Following the results of a BPO research study in conjunction with Everest Group and LSE’s Outsourcing Unit, Accenture is encouraging BPOs to modernise their mindset towards industry demands, in order to reap greater business value from their relationships.

The research showed that the most successful BPOs demonstrated 8 key practices of management: a holistic approach to relationship management, a cooperative approach to governance, change management a priority, placing emphasis on benefits beyond cost reduction, targeting strategic business outcomes, domain expertise and analytics, aligning the organisation with the outsourced processes and taking full advantage of technology as an enabler.

Mike Salvino, Group Chief Executive, BPO, at Accenture said “this study clearly shows that the industry mindset needs to change for organisations to capture the full business value of BPO, where engagements are measured by business outcomes and improving clients’ business performance rather than just cost reduction (…) by adopting the behaviours and practices associated with high performance BPO, organisations can capture significantly greater business value and build new competitive strengths, ranging from accelerated speed to market, enhanced innovation and stronger customer loyalty to savvier talent management, and top-line growth.”