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A recent survey declares 70% growth in the Business Process
Outsourcing (BPO) industry in India on yearly basis. The
current market share is $1.6 billion. The Industry employs over
100,000 people all over the country. It is estimated that the
booming BPO industry will boost by 27% by 2008 resulting in an
increase of $17 billion in revenue and employment of a million
people.
The thriving Business Process Outsourcing is the
contracting of a specific business task, such as telemarketing,
payroll, HR etc. to a third-party service provider. BPO companies
can be categorized into two categories: Back office outsourcing
and internal business functions. Internal business functions
generally include billing or purchasing while front office
outsourcing deals with customer-related services such as marketing
or tech support. Offshore outsourcing is the outsourcing of
projects out of the country.
The back-office processing and customer interaction services are
the fastest and largest growing segments that contribute
significantly to the Indian BPO market. BPO’s in India has also
grounded itself in the sectors of content development, revenue
accounting, engineering and design, GIS, medical transcription and
entertainment through animation.
India’s ability to provide targeted results both in terms of
quality and quantity that too at reasonably low cost has made it
the first preference for companies to outsource their office work
whether related to back office, front office or customers in terms
of services and sales both.
A study by a leading research organization shows the reason why
Indian BPO’s has a winning edge over other countries:
• India has plenty of human resource fluent in English
• Economical services can be availed because of low labor cost.
• Country understands global needs and plans strategy accordingly.
• Quality is emphasized.
• Industry is receiving valuable support from the government of
the country.
• Availability of advance technology at par with western
countries.
• Human resource can adjust the various time zones. |
