NASSCOM, IT Industry
Body in India is working to rebrand the Indian Business Process Outsourcing
Industry to Business Process Management Industry which is a difficult task as
it still needs to convince clients, job aspirants and other stakeholders. The
BPO is often associated with low-end work night shift based typical call
centres selling credit cards and insurance policies to foreigners. India's BPO services industry accounts for 38 per cent of
the global market.But Indian BPO industry has moved away
from this low end work to high end work involving analytics, MIS, Knowledge
process outsourcing, legal process outsourcing, Healthcare and medical related
work. This has led to the rebranding exercise by NASSCOM for creating a stronger image for Indian BPO Industry that will
improve its identity as a full-service value provider that specializes in
providing performance-based services. India's
BPM industry directly employs about 1.1 million people and this figure will
touch 1.8 million by 2020. The sector is expected to grow to USD 50 billion by
2020 from USD 20.8 billion in 2012-13 fiscal at a compounded annual growth rate
of 13 per cent, according to NASSCOM.
Global BPM sourcing market is currently valued at about USD 150 billion and
India is expected to capture major share of this industry and Indian IT-BPO
players are well equipped, as they have built the necessary technological
expertise in Business Process as a Service (BPaaS), automation, IT-BPM
interplay, etc. India’s BPM industry has changed its pricing models wherein it
offers tailored pricing models like outcome based pricing model, according to
client requirements, according to NASSCOM President Som Mittal. Already,
the industry had moved to a non-linear trajectory. "The industry's growth
from $18 bn to $20 bn was non-linear as people addition was far less compared
to the normal course," according to Raman Roy, founder of BPM firm Quattro
and who is regarded as one of the pioneers of India's BPO industry. Domain specialists in sectors like healthcare and retail
will be the growth drivers for India's business process outsourcing (BPO)
services industry, according to industry body NASSCOM.
Nasscom president Som Mittal said the association was launching an outreach
program that engages with various influencers, including academia and parents,
about career options in the BPM industry.
Indian BPO Industry has
been developing transformational outsourcing models that are more integrated
with IT technologies and delivering clients huge value benefits and are also
impacting the business outcomes of their clients. Higher end work in the areas
of analytics, market research, MIS, customer relationship management, social
media marketing, etc. and highly specialized work related to LPO, Healthcare
outsourcing is also being outsourced to Indian vendors like Genpact, WNS, TCS
BPO, Infosys BPO, HCL BPO, etc. Mergers and Acquisitions are also increasing as
the Indian BPO players are looking to acquire new skills and technologies and
offer them to clients that will not only increase their revenues but also
increase their profitability. They are also establishing near shore development
centers in Mexico, Brazil, etc and also in eastern European countries like
Poland, etc. Indian BPO Industry has transformed into BPM Industry and looking
to continue its growth trajectory.
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