Understanding the Future and Scope of BPO Industry in India
Business process outsourcing is an important aspect of IT enables services and in the past few years Indian has become a major hub for offering BPO services at affordable rates. The growth of the BPO services in India has been ensured by numerous factors, with the most critical among them being economy of scale, business risk mitigation, and cost advantage and utilization improvement. All these have made India a preferred choice for many USA, UK and other European organizations, seeking a cheap and quality oriented service for a wide range of business processes within their organization. This has consequently led to the BPO sector becoming a key player in the nation’s economic growth.
With the number of global organizations willing to outsource their business processes to India, the BPO sector is growing by leaps and bounds every year. In fact, a majority of entrepreneurs planning a new business setup in India are opting for the BPO sector which has proven highly profitable and growth oriented for the past several years. The easy availability of skilled professionals having a good command over English is a major behind this continued phenomenal success of companies offering BPO services to overseas clients. Their end, the foreign organizations are attracted to Indian companies due to the cheap labor costs they offer as well as the dedication and integrity of the employees in general. So even though BPO professionals are considered to be amongst the best paid people across various sectors, they in fact earn only a fraction of what the international organizations would have to pay to the local staff.
There are a wide range of BPO services that are offered by Indian companies based on the specific needs of the clients. Contrary to what many people believe, BPO services in India are not restricted only to offering customer care and technical support services to international organizations. Rather, many BPO companies in India specialize in providing services for other business processes including Insurance processing, data conversion, IT help-desk, telemarketing and even online research. In addition, in terms of account outsourcing India tops the lists of countries that international organizations choose for hiring such services. Most Indian companies use the latest software and technology to offer the best services to their clients irrespective of which business process they are working on.
Another misconception that people tend to have about the BPO industry is that this sector offers only limited career opportunities. However this is entirely untrue as the BPO sector is the fastest growing sector in Indian economy and requires thousands of new professionals every year to meet the demands of the growing number of international clients. In fact, companies offering services of business process outsourcing in India are responsible of catering to 56% of the world’s total outsourcing needs. That is how the industry is responsible for providing jobs to more than 1.6 million people and with its tremendous annual growth rate, the industry is all set to create several thousand more job opportunities in the coming years.
With the number of global organizations willing to outsource their business processes to India, the BPO sector is growing by leaps and bounds every year. In fact, a majority of entrepreneurs planning a new business setup in India are opting for the BPO sector which has proven highly profitable and growth oriented for the past several years. The easy availability of skilled professionals having a good command over English is a major behind this continued phenomenal success of companies offering BPO services to overseas clients. Their end, the foreign organizations are attracted to Indian companies due to the cheap labor costs they offer as well as the dedication and integrity of the employees in general. So even though BPO professionals are considered to be amongst the best paid people across various sectors, they in fact earn only a fraction of what the international organizations would have to pay to the local staff.
There are a wide range of BPO services that are offered by Indian companies based on the specific needs of the clients. Contrary to what many people believe, BPO services in India are not restricted only to offering customer care and technical support services to international organizations. Rather, many BPO companies in India specialize in providing services for other business processes including Insurance processing, data conversion, IT help-desk, telemarketing and even online research. In addition, in terms of account outsourcing India tops the lists of countries that international organizations choose for hiring such services. Most Indian companies use the latest software and technology to offer the best services to their clients irrespective of which business process they are working on.
Another misconception that people tend to have about the BPO industry is that this sector offers only limited career opportunities. However this is entirely untrue as the BPO sector is the fastest growing sector in Indian economy and requires thousands of new professionals every year to meet the demands of the growing number of international clients. In fact, companies offering services of business process outsourcing in India are responsible of catering to 56% of the world’s total outsourcing needs. That is how the industry is responsible for providing jobs to more than 1.6 million people and with its tremendous annual growth rate, the industry is all set to create several thousand more job opportunities in the coming years.