Emerging Tech Trends in Bosnia and Herzegovina’s BPO Sector

Bosnia and Herzegovina (BiH) is a model for outsourcing innovation in the Western Balkans. The country is strategically located and has a well-educated workforce, with growing emphasis being placed on STEM subjects.

Therefore, it has a competitive advantage as it increasingly caters to Western European investors and startups through its technological advances. In this article, we explore some emerging technologies to come out of the country, with the BPO sector growing at a compound annual growth rate (CAGR) of 4.81%.

In addition, it is anticipated to be valued at $37.11 million this year alone with the figure rising to $44.78 million by 2028.

Let’s get started.

Emerging BPO trends trends in BiH

Technology is all around us and tech adoption is rising fast. But what is the situation like in BiH? According to sources, the IT industry is the fastest growing one in Bosnia and Herzegovina. And if you are wondering which tech sectors are making a grand entrance on the scene, the answers may surprise you. Here are a few BPO tech trends in BiH worth considering.

  1. Artificial intelligence (AI)

Artificial intelligence (AI) comes in many different forms. There is generative AI that produces text. There is AI that can create visuals and videos. And there is AI that can perform data analysis, help with customer service through chatbots, and so much more. Tech companies in BiH are quickly adopting AI as a means to provide an exceptional customer service, process data faster, and offer software solutions with a competitive edge. 

  1. Blockchain

If you’ve heard of cryptocurrencies such as Bitcoin, you would no doubt have heard about blockchain. This is a connected technology that acts as a “public ledger” where every transaction is recorded in a system and it is impossible to change. This lends data and transactions to greater levels of security. And some organizations in BiH are leveraging this technology to help their foreign customers.

  1. Internet of Things (IoT)

The Internet of Things (IoT) is a series of connected, internet-driven devices that aim to streamline processes, whether at a production plant, in a tourism and hospitality environment, or in IT. IoT has not left BiH untouched and several key players are making a strong statement about how it can be used to positively impact organizations.

  1. Machine learning

With machine learning, machines are taught to “think” and reason almost like a human, based on training that involves vast volumes of data. Machine learning is infiltrating many aspects of doing business and IT startups in BiH that leverage this technology can gain a competitive edge in their niche by offering software products based on data-driven insights.

The reasons behind BiH’s tech growth

Bosnia and Herzegovinia is experiencing rapid tech adoption and the BPO sector is no different. With the growth in global demand, BiH has emerged as a key player in the region. Here are a few reasons why:

  • A strong educational system with a focus on STEM subjects
  • The country has a highly skilled workforce
  • The workforce has multilingual capabilities
  • The IT and BPO sectors offer competitive pricing and low labor costs
  • A favorable tax environment
  • It is strategically located geographically
  • It has a cultural affinity with Western Europe
  • The BPO sector has received government recognition and support
  • Tax incentives
  • A dedicated agency has been established to promote investment in the sector

Market trends

In terms of the BPO sector in BiH, it has experienced significant growth over the past few years. In particular, services such as IT and software development are showing strong performance. All this is backed by a talented pool of IT professionals, making it an in-demand location for quality software development services.

Challenges

Apart from its multiple advantages, BiH still faces certain challenges in terms of becoming a tech and BPO leader in the region. Among some of these challenges include:

  • Comparatively small geographical size
  • Underdeveloped infrastructure
  • Challenges in setting up operations, especially in remote areas
  • Political and economic circumstances

Conclusion

If you are looking for a BPO partner in BiH or you simply want to stay ahead of the curve with the latest BPO tech trends, you’ve come to the right place. StorsenDigital is the ideal partner to help you on your BPO journey, connecting you to the right tech partners to help you save costs and reap all the benefits of strategic outsourcing to help your business thrive on the international stage. All you have to do is reach out to us at StorsenDigital to explore cutting-edge solutions tailored to your business needs.

Published: April 14, 2024

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StorsenDigital is a leading company that specializes in sourcing the best outsourcing talents in Europe. With the rise of remote work and digital transformation, skilled professionals are in high demand, and StorsenDigital is at the forefront of managing the supply and demand of these talents.
StorsenDigital is a leading company that specializes in sourcing the best outsourcing talents in Europe. With the rise of remote work and digital transformation, skilled professionals are in high demand, and StorsenDigital is at the forefront of managing the supply and demand of these talents.