Demand for Business Process Solutions at an All-time High!
In a Press Release that appears today on PRWeb, Paper Alternative Solutions announced record growth and hiring, as a direct result of the demand for business process solutions. Business process solutions include document processing services and paperless technologies, such as ECM and Artificial Intelligence that help businesses and organizations streamline operations.
Business Processes as a Service (BPaaS) Defined
Gartner defines BPaaS as "the delivery of business process outsourcing (BPO) services that are sourced from the cloud and constructed for multitenancy. Services are often automated, and where human process actors are required, there is no overtly dedicated labor pool per client."
The diagram below identifies the types of BPO that lend themselves well to BPaaS:
What Do these BPO - BPaaS Solutions Have in Common?
First and foremost, the Cloud has made them possible! Cloud services have evolved to become an integral part of all IT strategies. As organizations have become more comfortable with Cloud-SaaS technology, they have begun to focus more on the service providers themselves. By paying more attention to the service provided, the level of service, and how it fits the organizations' goals, the BPO provider has become as important as the security and pricing of the platform.
Secondly, competition has made them necessary! Greater competition and growing consumer power have eroded traditional product- and service-based differentiation. Customer experience is the new competitive advantage. BPaaS is a sustainable source of customer-service competitive differentiation. The faster and more securely that organizations can serve customers, process paperwork, and conduct business, the greater their competitive advantage and the lower their costs.
The third important consideration is the corporate bottom line: All the solutions listed in the diagram above are considered to be "back-office" operations. Back-office operations are: (1) necessary to the operation of the company; (2) costly to maintain; and, (3) contribute nothing to profitability. That's why these operations are ripe for change.
Strategic Adoption of Business Process Solutions
Not every company requires every business process solution. But business leaders need to understand how the introduction of innovative change in strategic centers of operation can drive their company forward. IT leaders should understand cloud platform BPO trends and support their exploitation for competitive advantage and increased profitability.