IT AND BPM TO BECOME DIGITAL COUSINS IN SERVICE SECTOR

The BPM industry has now truly entered unchartered territory. Production capacity is being replaced by thinking capacity,  In the world of digital twins, IT and BPM services would form the digital cousins.

Today’s digital world never gives a chance to stop gossiping about it. Proving it yet another time the smart algorithms, bots, and AI tools have made their way into organizations. Among and across many automated services orchestration tools have the strongest ability to analyze the nature of the work and its available capacity before coming to the final decision of passing it on to either a human or to a machine. There is also a chance of passing the work packets between the machines and humans seamlessly.

There is also voice recognition software which supervises and monitors the type and the quality of an interaction between the humans and the external world giving it a chance of escalating matters and intervening in real time.

It is difficult to discuss on topics such as productivity gains, industrial bots, along with the associated price tags and lack of local support in countries like India, because they are less likely to affect mass replacement of blue-collar human talent. 

However, the services sector, with its largely higher cost talent pool, is a different ball game altogether, especially the BPM industry. The G2000 clientele, that outsourcing companies address, are perfectly amenable to experimenting with intelligent automation. The BPM industry has now truly entered unchartered territory. 

Now, the Production capacity is being replaced by thinking capacity, which can be discussed as Rule-based work is making way for judgment based activity. To create better experience for end clients, the epicenter is moving away from efficiency of operations to effectiveness of outcome which thus gives a chance of having less and fewer interventions - the call center, since long ago had morphed into a multi-channel contact center, is now intelligent enough to toggle the interaction with live customers across multiple channels, 

Thus, Outsourcing service providers, the largely used technology for workflow management, would have to inject strong elements of digital interaction, robotics, platforms, and analytics, into their offerings. Companies proficient in lift and shift models of yore would have to develop institutional muscle around consulting and process re-engineering. Business models are changing to foster deeper relationships with end clients — value sharing arrangements, co-creation of IPs and development of the solution.

 The way of undergoing business is undergoing a sea change. In the manufacturing world, concepts like rapid prototyping are being replaced by digital twins. The double entry system of bookkeeping is being replaced by blockchain technologies, which is essentially a triple entry system of bookkeeping.

For decades, Indian IT and BPM industries have co-existed. In this fast digitalizing world technology platform driven outsourcing services are becoming the norm and industry and technology consulting skills are becoming critical differentiators. Analytical superiority and agility have become the difference between success and failure for end clients. 

In such a scenario of the world, the traditional barriers to convergence, between IT and BPM, would disintegrate at an increasing pace. In the world of digital twins, IT and BPM services would form the digital cousins, which are likely to join the forces to convey the true value that new age clients await.