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Home » Articles » 2023 Outsourcing Review: 55,610 full-time jobs worth $1.7 billion

2023 Outsourcing Review: 55,610 full-time jobs worth $1.7 billion

The outsourcing industry experienced a significant growth in 2023 and is expected to thrive even more in 2024 as the demand for efficient and effective business processes continue to increase. ‌ ‌ ‌ ‌

2023: Remarkable outsourcing growth

The outsourcing industry experienced significant expansion in 2023, driven by the global recovery from COVID, increased acceptance of remote work, and staff shortages

We anticipate this growth will continue in 2024 as businesses pursue cost-reduction strategies measures in response to potential economic downturn.

Visitors to outsourcing

The Outsource Accelerator platform has shown consistent growth in 2023. The website recorded 6,267.450 page views (up 23.79%) from 2,581,988 unique visitors (up 63.84%) which yielded 20,954 inbound inquiries (up 42.23%).

The platform generated 1,817 phone consultations, 1,787 toolkit downloads, and 16,763 quotation requests. Collectively, the quotation requests generated role requests for 55,610 full-time jobs with an estimated value of $1,668,300,000*

*Conservative client value calculation: take the lowest end of their role request numbers, multiply by conservative top-line revenue of $1,250/role/month, multiplied by 24 months (conservative team lifetime value & duration)

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Promotion of outsourcing

Outsource Accelerator has invested heavily in the promotion of the global outsourcing industry. In 2023, the platform spent $1,690,257.07 on paid advertising and $428,258.03 on content production. It sent 29,336,784 emails, published 4,414 articles, 51 podcast episodes and 179 YouTube videos.

Overall, total platform spend of $2.12m generated $1.67b of outsourcing inquiries. We estimate closure rates of 3%-6% which means that every $1 invested generates $24-$47 value for the outsourcing industry. This means a conservative value of $50m-$100m for the year.

2023 Number of Staff Required

 

Inquiry action Quotation, Book a Call, Download Toolkit

 

Company sector analysis (source of inquiry)

 

2023 Inquiry Value (from quotation request) Per month & cumulative

 

Channel Analysis Paid versus Organic inbound traffic

 

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Target country inquiry analysis (source of inquiry)

2024 growth curve

We expect to expand 2x-4x across 2024. The platform is hitting a stride, advertising and content grows significantly, and the industry is aided by strong trends toward remote and outsourcing services. This will reflect in website traffic and outsourcing inquiries.

Introducing OA500: The Global Outsourcing Firm Index

Outsource Accelerator monitors the outsourcing industry and has developed a ranking system for all outsourcing firms globally. Our research team has spent the last 12 months collecting the necessary data (measuring over 20 publicly available metadata points), analyzing, and publishing the findings.

All firms within the OA directory shall be ranked in order – from #1 to #2,532 – based on the results of our analysis. We are about to publish our findings, and would like to give you the opportunity to amend or verify the publicly available metrics that we have for your company.

Read the OA500 methodology white paper here.

Outsource Accelerator will be announcing the inaugural OA500 in February 2024. The OA500 is a prestigious index of the top 500 outsourcing firms globally. We expect this first, objective index of the top 500 outsourcing firms to become a vital metric for the industry moving forward.

To ensure the most accurate representation of each firm, we encourage all BPOs to claim – or list – their company page now.

Stay tuned. Email us, if you want to know more.

December 2023 outsourcing performance

Outsourcing inquiries and web traffic typically slows down when heading to the festive season, and then bounces back at the start of the new year, but despite the holiday festivities, the volume of inquiries remained stable. To cap off the month, the platform generated 1,607 inbound inquiries. While this is lower by 1.89% compared with November, this is higher by 10.14% compared with December 2022. Meanwhile, the site generated 608,491 page views (-14.24%) from 202,491 unique visitors (-13.41%) in December.

The inquiries came from 68 countries, representing 28 different sectors. Out of the 1,607 inbound inquiries, there were 1,323 outsourcing quotation requests representing an estimated 3,379* full-time staff with an estimated outsourcing value of $101,370,000*. See all statistics in the Source Partner dashboard.

*Conservative client value calculation: take the lowest end of their role request numbers, multiply by conservative top-line revenue of $1,250/role/month, multiplied by 24 months (conservative team lifetime value & duration)

Key metrics for December 2023

Total outsourcing inquiry value – December 2023

Notable inquiries

Quality analysis

Outsource Accelerator analyses the data form all inquiries monitoring them for quality. The platform now assesses lead quality on a range of validation, quality and engagement metrics.

Source Partner v3.0 is now live!

The new Source Partner dashboard is now live! The v3.0 release is a complete rebuild and offers unrivalled tools to help outsourcing firms attract new clients, and make more sales. It offers:

➤ Powerful business intelligence tools to identify outsourcing client prospects.
➤ Get introduced to hot inbound outsourcing inquiries.
➤ Powerful analytics and business intelligence tools to assist the sales process.

The most powerful outsourcing platform

The Source Partner platform is the world’s most powerful outsourcing marketing platform, business intelligence tool, and community. Join us in this journey. Early birds catch the worm!

We are about to offer a one-off launch deal to get you all onboarded. Stay tuned for this.

List or claim your company page today – and get access to the SP dashboard. It’s free.

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About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO).

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between world-leading outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 2,300+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

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