In some current years, India has been able to occupy the better place in BPO or business process outsourcing. The immeasurable success rate happens to be because of the reality that there you find the readiness of resources needed in this domain. For just about the last twenty years, BPO is all set to cater to a lot of industries which include hospitality, telecommunication, finance, healthcare, mortgage, banking, retail, insurance, and a lot more. Right from outbound sales call canter to call centres in Delhi, and much more you can discover here.
Indians happen to be well- read,and the number of graduates in commerce and technology is impressive. It makes one more factor for the mushroom growth of call centre services in the country. The geographical location and demographics also suit India because most of the population happens to be under thirty. Since outsourcing is becoming a high trend in India, the largest question that comes to the mind of every person is: what precisely is in store for the outsourcing industry in the coming decade or two. With the altering dynamics relating to the global business, things will be changing for outsourcing also.
Recent trends that may result in influencing the outsourcing industry
The outsourcing witnessed the unimaginable growth subsequent tothe global recession,and there happen to be some trends that will offer a deep insight into the future in India.
The pricing structures may become stable up to a great degree with buyers looking for standardised solutions. It implies that business process outsourcing in India is needed to prove themselves through efficient and effective performance in place of pricing.
As opposed to the common belief that shared and common services being a peril, they happen to be in actuality being accepted with open-arms with the transforming times. That is why it boosts up output, minimises errors and brings down costs.
With the continued price-hike in oil, companies are needed to take full advantage of this technology and retain outsourcing work in order to reap more revenue.
The swiftly growing industry needs growth in infrastructure also. Nevertheless, it happens to be a domain where India lags behind, and this concern requires being dealt with to do well in the competition.
Companies tend to be spreading out to tier II cities wherein they shall be in the capacity to cash on the cheap labour costs.
Even if India has set up itself by way of a world leader within BPO, in the coming future, there will be challenges posed by other South –Asian countries.
See the difference between BPO and KPO
Outsourcing of peripheral or routine business functions tends to be in trend. This means contracting with the some other that is the third –party, in relations to operations and also responsibilities relating to the business process. BPO has received great significance by offering services linked to technical support, customer support, human resources etc. Where as KPO or knowledge processing outsourcing happens to be a subset of business process outsourcing. KPO takes in outsourcing of core functions that can or cannot offer cost advantages to the parent company,however, certainly assists in value addition. This is the difference between BPO and KPO.