Document and payment processing specialist BancTec has invested a lot of resources in the past few years increasing its footprint in the business process outsourcing (BPO) market. But according to Michael J. Alfonsi, BancTec’s managing director of financial transaction processing services & finance transformation solutions, the BPO market has not grown as fast as many people had expected. From a recent article entitled, “Rethinking Document Outsourcing and Co-sourcing:” “One would think the economic downturn would have accelerated the growth in BPO, but it did not. The prevailing view on the reason why is that for many BPO adopters, the so-called low-hanging fruit has already been picked, and the next level of outsourcing, which involves full functions, got stalled as capital was being conserved during the downturn.”
As a solution to this, Alfonsi is suggesting BPO providers expand their business into the area of co-sourcing. “BPO is no longer an either/or proposition, and companies now can have both/and,” he says. “Both/and is a graduated solution in which basic tasks go to the outsourcer, but both the outsourcer and the client discover the right point at which the analytics or the expertise – the very productivity – is optimized for the partners.”
For more details on how to create a successful co-sourcing strategy, check out Alfonsi’s full article.