Globally, considerable growth is being projected for the business process outsourcing (BPO) segment of the wider outsourcing market – by as much as 8% year-on-year. Kirk Laughlin of Nearshore Americas discusses, among other things: how the Caribbean outsourcing industry fared in 2020; the segments the region ought to focus on in trying to move up the value chain; and key trends that are emerging and are likely to shape the industry for years to come.

 

This episode is also available in Apple iTunes, Google Play Music and on Stitcher!

During 2020, economies worldwide, including those in the Caribbean, experienced a considerable decline, due to the global pandemic, COVID-19. In the Caribbean region, the tourism, which is bedrock of almost all economies, has been adversely affected, resulting to job losses, and the loss of a major source of revenue to not only that industry, but also to the support services providers and governments.

However, one of the industries that has been surprisingly resilient in the region is offshore outsourcing.  Earlier and prolonged lockdowns experienced in many of the popular outsourcing locations globally, resulted in business being relocated into Latin America and the Caribbean, and that trend is likely to continue into the foreseeable future. Further, and with the tourism and hospitality industries unlikely to return to pre-COVID-19 levels, optimistically until at least 2022, Caribbean countries may be justified in increasing their focus and intensifying their efforts to develop, or expand, their outsourcing industries.

Hence, in our penultimate episode for 2020, we are taking stock of the Caribbean offshore outsourcing space. We will be discussing trends in the industry, along with strategies that Caribbean countries could consider employing to better position themselves for the future.

 

Introducing our guest

Kirk Laughlin

Kirk Laughlin is the founder and Managing Director of Nearshore Americas, a well-regarded and influential online publication that focusses on knowledge services in the Americas. He founded Nearshore Americas in 2009, after working as a business journalist and media executive in the United States and Asia.

Kirk has extensive knowledge of the nearshore industry, having interviewed and consulted with thousands of brand leaders, government officials and sources in more than 20 countries in the region. Kirk has also participated as an expert speaker and moderator at dozens of forums in Latin America, North America and the Caribbean. He has been interviewed and quoted in several notable publications including The Financial Times, BCC News, Miami Herald and the Globe and Mail.

Kirk spearheaded the launch of Nearshore Nexus in 2010, the nearshore industry’s annual conference held in New York City. Kirk remains deeply committed to the core mission of Nearshore Americas, which is to increase awareness and engagement with Latin America and Caribbean partners and ecosystems.

 

Insights into our conversation

Being able to pick the brain of one of the experts of the outsourcing space in Latin America and the Caribbean was a real treat. Kirk and Nearshore Americas were already on the ground when many Caribbean countries were in the process of developing and executing their strategies, which has resulted in the success that is being enjoyed today. However, and in being based in North America, whilst also having sight of what is occurring in Latin America, in particular, Kirk is able to share tremendous insights and perspectives on, among other things, how the industry is evolving globally, and the implications for the countries in the Americas. To that end, below are a few of the questions posed during the course of our conversation:

  1. How has the Caribbean and Latin American outsourcing industry fared this year?
  2. Is still a good idea for Caribbean countries to build their investment promotion strategies to attract call centres primarily?
  3. Is it a good idea for Caribbean countries to want to go up the value chain and deliver higher-value services?
  4. Why do you think Caribbean countries have not made any meaningful inroads in their effort to move up the value chain, especially in areas, such as Finance and Accounting and shared services?
  5. Are there segments you would suggest Caribbean countries should focus on?
  6. What types of skills do you think will be required in the region to serve the outsourcing sector over the next 5 to 7 years?
  7. What might the future of outsourcing look like?

 

We would love to hear from you!

Do leave us a comment either here beneath this article, or on our Facebook or LinkedIn pages, or via Twitter, @ICTPulse.

 

Select links

Below are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:

 

 

Image credits: Gerd Altmann (Pixabay); Wikimedia Commons; K. Laughlin

Music credit: Ray Holman