The business Service Sector is increasing yearly, and BPO has seen an increase in the last years too. Statista shows the countries revenue from Eastern Europe in the Business Process Outsourcing segment will reach US$2.28bn in 2022. Annually, the revenue is expected to grow with 15.60%.
The Eastern European region includes countries like Romania, Bulgaria, the Czech Republic, Hungary, Moldova, Poland, Slovakia, and Ukraine. Serbia, the largest country in the Western Balkans, is also a good destination for outsourcing.
For a company to grow and rely on a partner, it has to outsource its services to a country that can provide the best solutions and align with the company profile and values. Choosing a specific country can be difficult, and you may consider outsourcing after considering factors such as the political climate, economic stability, and citizens’ level of education.
What are the benefits of outsourcing operations to companies in Eastern Europe?
Skilled Talent Pool
Eastern Europe has a large and highly skilled talent pool, multilingual speakers, and tech-savvy individuals. Students here learn multiple languages, and most already speak English moderately to a high level. Spanish, Italian, German, and French are also spoken in this area.
Because English is widely spoken in these countries, you can find a partner who provides professional services at a lower cost and with fewer language barriers.
People are also trained in technology and have a strong interest in it. It is advantageous for your company to outsource IT operations or customer support that requires technical knowledge to Eastern Europe.
A large pool of multilingual and hardworking employees is available to bring quality to any contact center. Eastern Europe has a lower pay range than other regions, but contact center employees earn more than the average salary in that country.
Wages in this region may be slightly higher than in Asia, but cultural similarities between US and West European companies help to meet the needs. Nonetheless, wages in this region are significantly lower than in Northern or Western Europe. When we compare salaries in Romania and Serbia to wages in Germany and Switzerland, we can see that the disparity is significant.
Managing in-house operations is more expensive than outsourcing those operations to a BPO firm. Outsourcing to Eastern Europe can save you up to 40% on salary, benefits, taxes, and administration. Even if the pay is lower, the work quality is not.
Romania, for example, has competitive offerings, making it an extremely appealing destination for Business Process Outsourcing.
Promising business environment
Eastern Europe has a favorable business climate because it is a reliable and appealing outsourcing destination. The BPO market in Eastern Europe is expanding and becoming more dynamic. Tech talent, multilingual speakers, financial attractiveness, and the business environment are just a few of the factors that contribute to it being a great place to outsource.
Eastern Europe is easily accessible for travel and communication due to its location and time zones. Clients can travel to their partners in a matter of hours. They also have the fastest internet speed in the world, which creates a fast-working environment, benefits, and speeds up processes.
GDPR is strictly followed and respected because most of these countries are members of the EU. Compliance with this regulation affects the entire organization, so you can be confident that all data will be held and managed safely and securely.
Furthermore, you can be confident that Eastern Europe is a great place to outsource because some of the world’s largest corporations have chosen to outsource here.
There may be a cultural difference when working with a European or an Asian country. Of course, you know better who you want to work with based on your business needs and your clients but keep in mind that the business etiquette of Eastern Europe countries can be compared to that of the United States and Western Europe. This happens because Western culture has influenced these countries in the last decades.
Cultural similarities make it easier for end customers to collaborate more efficiently with agents. This alignment aids in streamlining workflow, improving vendor management, and reducing costly misunderstandings.
Eastern Europe has emerged as one of the world’s top BPO destinations. Thanks to its experts and business know-how, it may soon become the driving force in the BPO market.