Top BPO Benchmark Survey Results

2017 Benchmarking Survey of Top BPOs - Second Annual Survey

Find out the full story from results of the interviews with 50 top Business Processing Outsource (BPO) executives on how their companies manage new complexities in document processing in the ever-expanding outsourcing landscape. The survey, underwritten by Parascript, was conducted by Lead to Market Research via phone interviews. Research revealed that 80 percent of those surveyed are turning to automation to remain competitive. “In response to industry growth and pressures to address increased document complexity, BPO leaders are looking to provide new service offerings with the most efficient high volume transaction processing,” said Mark Gallagher, Vice President of Sales at Parascript. Study result highlights include:
    • Top priorities for BPOs in 2018 for document processing include 40 percent focused on increasing revenue through new customer acquisition and 32 percent increasing revenue from new service offerings.
    • 79 percent of BPOs are under pressure to lower the price of existing services from their current customers
    • 64% of BPOs surveyed are considering artificial intelligence to enhance their data capture
The study also covers topics such as data accuracy and current automation capabilities. Survey respondents offered a US-centric view with survey participants—vice presidents, directors and managers—from companies of over $500 million to billions in revenue. Every aspect of the document processing workflow can be significantly impacted by automation: document preparation, document organization/classification, data extraction, data validation and quality assurance. Even today, two of the of the biggest hurdles to delivering faster results with higher accuracy are manual sorting and reliance on too many one-off, complex labor-intensive processes. Today, BPOs have the opportunity to consolidate on a core group of technologies and leverage advanced data extraction.