India has a huge base for BPO services wherein according to IT research firm IDC India, apart from overseas BPO market the domestic BPO market will grow at a CAGR of 33.3% and will earn revenues of $6.82 billion by 2013. The current revenue mapped two years ago was $1.62. The expansion of BPP market is being seen as a sign for huge generation of employment opportunities for youths. The process which started early in the last decade of the last century is now paying huge dividend to Indian IT and BPO companies.
Despite the fact that there has been one of the deadliest recession in the USA, Indian BPO companies were able to fetch business from their clients located in the USA. One reason can be sited for Indian BPO companies receiving business from their clients in the USA and that is that companies knew that they can save some money only if they outsource their work to Indian BPO companies which do the same work for just a fraction of the cost. Cost-efficiency is a major attraction that corporate bodies in the USA outsource their secondary and tertiary work to Indian BPO firms.
According to the National Association of Software Services and Companies (NASSCOM) India has been able to become a leader in BPO services for the reason that all the firms involved in it are client oriented and have been able to offer round-the-clock services based on the country’s unique geographic location. Moreover, a pool of talented English speaking professionals helps the country in training and getting targeted results. Not to forget the government of India has numerous pro-market policies which helps BPO firms mold the situation for their advantage.
Some key areas in BPOs such as Process Re-engineering Consulting, Technical Staffing, Build Operate Transfer, IT Architecture & Technology, Program Management, IT Infrastructure, Quality Consulting Services, etc. are being done professionally and with ample sophistication which not only help clients located abroad garner benefit from cost-cutting but also leverage on the resources available in India. Some other BPO services in India such as Customer Support, Technical Support, Telemarketing, Insurance Processing, etc. enhances the financial health of clients companies in the USA and UK.
Some internet based business outsourcing work such as Data Processing, Internet / Online / Web Research, etc. can be done using internet technology by Indian professionals. The work not only reduces the cost of operation of the firms located in the USA and UK but also helps them getting the expertise and skills of Indian professionals who are not below standards in any way from their western counterparts.
India’s BPO companies cater to a significant portion of customer care services in the form of Customer Interaction Services including of Call Center, Pre & Post sales Support, Collection & Mortgage, Telemarketing, Help Desk, etc. amongst others. Talented Indian professionals working in Back Office Services offer services such as Digital Content Management, Form Processing, Hotel Reservation Processing, MIS Reporting, etc.