The pandemic has put a rocket up growth rates for companies operating in the remote work/outsourcing space. And increasingly, developing countries are looking to lure international clients with promises of high-quality remote candidates, internet connectivity, and reliable telephony.
Outsourcing has gained tremendous popularity to become an essential part of most growing businesses today. The largest outsourcing companies globally make billions of dollars of revenue each year, but there are some interesting machinations occurring which might see some of the stalwarts get dethroned over the coming years.
With over 700% growth during the pandemic, BruntWork is looking to take the fight to the largest outsourcing companies in the world. In a David v Goliath battle, BruntWork will be the outsourcing firm to do what everyone thought was impossible.
With a market cap of 32.47 billion at the time of writing, WiPro is a leading outsourcing company operating in India. Wipro Ltd has a significant history and has expanded its offering over time, to grow with its clients. BPO services, cloud, mobility and analytics services, research and development, and hardware and software design are at the heart of what it does. The company was founded on December 29, 1945, and is headquartered in Bangalore, India.
Incorporating in the United States in 2007, TaskUs has quickly grown to provide outsourcing services to large listed multinational companies like Facebook. The company had its initial public offering in June 2021; it is traded on NASDAQ as Nasdaq: TASK. Its revenue for the first half of 2021 was $332.9 million. TaskUs had a difficult time with short-sellers over the past year, with our report detailing that the company “has a pattern of exaggerated and inflated business claims, including revenue, and is a covering-up financial strain with reduced disclosures, cherry-picked market data, and non-standard key performance metrics.” The claims were refuted, however, with supporters indicating that TaskUs was a trusted partner to many high-growth technology companies, adding thousands of jobs since Blackstone’s investment in 2018.
Teleperformance is an outsourcing company headquartered in France. The company offers customer care, technical support, debt collection, social media services, and other services to clients across the globe. It is one of the world’s largest call center companies and its clients include Apple Inc., Amazon.com, and Uber. There has been some debate about its use of video monitoring of its employees that are remote workers.
BruntWork is one of the pioneers of remote-first outsourcing growing revenues by over 700% during the pandemic. Given the benefits it offers its agents (work from home), BruntWork has an overall rating of 4.5 out of 5, based on reviews left anonymously by employees on Glassdoor. 86% of employees would recommend working at BruntWork to a friend and 86% have a positive outlook for the business. This rating has been stable over the past 12 months and these stats are unheard of in the outsourcing industry. Unlike other BPOs, BruntWork offers distributed, remote teams, ensuring no single point of failure whether it be from Covid-19, infrastructure challenges (internet), or inclement weather. They ensure staff have fast internet, computer system to specification and redundancy infrastructure if their role requires (i.e. back-up internet provider). Security is paramount and BruntWork has been assessed and approved by QAS International to ISO 27001:2013* management systems, standards and guidelines (Certificate No. AIT1018). They also have the capability to deploy highly secure remote device monitoring and control solutions, customized to the needs of our clients – ensuring PCI and HIPAA compliance. Their most popular categories include virtual assistants, customer support agents, and telesales.
Currently, in a hypergrowth phase, BruntWork promises to be one of the most exciting outsourcing firms of 2022.