BPOs A Popular Career Choice Today!

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Business Process Outsourcing (BPO) has become a popular career choice among today’s youth! As a matter of fact, you would find more than a million people employed in this sector at present worldwide. From where did this fad start? Why people are vying BPO for a prospective career?Business Process Outsourcing generally involves transferring some of your work to another company for a payment. Its roots can be traced back to the 1980s when some companies started outsourcing their payrolls tasks to third parties. Later on, employee management benefits were also added to the list and BPO sector started taking a shape. Currently, it has become common ground for call centre operations, accounting, finance and administrative functions customer service related activities and human resources related activities.Mostly, companies outsource those operations which come under the ‘non-core’ category. These activities when outsourced make the companies free to invest their time, money and surplus labor into more fruitful activities, which help in making the business more productive and efficient.This can be cited as one of the main reasons for the upsurge in the business process outsourcing sector in offshore countries like India, Malaysia, China and Russia. Low cost of labor and high ratio of English speaking professionals have made India and other mentioned countries a popular choice for outsourcing.

The high demand has resulted into creation of jobs in the BPO sector all over the world. The BPO industry, in order to fill in the huge demand has created attractive pay packages and state of the art infrastructure to lure the younger crowd. Easy money and lavish lifestyle with minimal technical qualification have made working in a call center a ‘cool place’.If one looks at the current trends, it’s not just the job sector that has been on a rise in BPO industry. It’s also BPO franchise which has found favor amongst entrepreneurs and investors round the world. By becoming BPO franchisees, one gets a established business franchise model which gives immense scope for business growth and development in today’s world.

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The Rise And Shine Of BPO Industry In India

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Bpo India

BPO industry can be defined through this-a booming industry that offers state of the art infrastructure, immense job opportunities and cool pay packages. Since mid 1990s, India has in fact become a leader in providing Information Technology Enabled Services [ITES]. This can be considered as the foundation for Business Process Outsourcing service4s in India.

According to NASSCOM, the current size of BPO sector in India is $11 billion and is expected to grow by fivefold and reach $50 billion by year 2012. Almost 2.5 per cent of India’s GDP comes from the BPO sector. It has a spillover effect on rise in export earnings and employment for nearly 2 million people round the country.

More and more international companies are vying India for outsourcing as a Indian call centers present customer gratification which instantly leads to higher rate of customer retention. This leads to immensely improved productivity and ultimately results in huge profits. Add to it the state of the art infrastructure and highly qualitative training methods which are designed exclusively to meet customer needs. All these have made India a popular and quite cheap destination for BPO services round the world.

Indian BPOs have also undergone a change to accommodate the international needs of their clients. In fact they afford quite an innovative mixed package of services for their clientele in the form of outsourcing services like sales, credit management, verification services, market research. BPO is not limited to just voice only. It has now extended to include other management services like human resources, finance, accounting, animation, multimedia, legal transcription and various other industry specific services.

Opportunities For BPO Hubs And Organizations In India

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 Around the world, businesses and companies are facing greater complexity in terms of increasing cost pressures, strict regulatory compliances and rising customer demands in terms of the quality of products and services. In the current economic environment, the companies are pushing towards greater austerity measures for cost control, where outsourcing seems to be a logical option.

In today’s competitive environment, outsourcing services to India is one of the popular business practices. It not only offers benefits in terms of cost reduction, but also in terms of increased productivity and quality of services. Multiple sourcing models and improving & widening range of options in terms of locations in India can enable companies to leverage capabilities and global arbitrage opportunities.

Outsourcing BPO to India allow global companies with various advantages such as availability of talent at a lower cost, affordable real estate, government support and a better quality of life. The cost savings of running a business in India comes in the form of huge labor pool of good quality English speakers who can easily handle customer support for the companies.

Over the years, the Indian BPO industry has grown from offering non-core activities. However, there is a huge market that is yet untapped. The level of the opportunity in hand can be gauged from the fact that  the Indian BPO industry provides direct employment to about 880,000 people, according to Nasscom Strategic Review for 2012. In the future, the industry is expected to generate more employment and increasing share of revenues for the companies.

Bpo Companies Looking Forward To Small Cities To Maintain Growth

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Bpo India

The stimulating growth rates of the BPO industry in India, in the past decade, seem to have evaporated due to rising infrastructure & operational cost in big cities, global slowdown and competition from other developing countries. In order to sustain decent levels of growth, it is imperative for it to start looking at other avenues in the country.

The best option available for BPO companies in this scenario is to move towards to Tier II and Tier III cities. According to reports, a number of BPO companies are opening centers in small cities to reduce operational expenditures. These smaller cities offer various advantages such as availability of talent at a lower cost, affordable real estate, lower attrition, local government support and a better quality of life.

Having lots of benefits, moving to smaller cities is not an easy task as it seems. The balancing act is required on the part of the companies who want to leverage the advantages of Tier II and Tier III cities without hampering their quality of work. BPO companies recognize the need for venturing in Tier II and Tier III cities but found hurdles in the form of lack of infrastructure and right manpower.

Setting a similar platform, the BPO Association of India (BAI) and World BPO Forum have joined hands to address the issues faced by the BPO industry in Tier II and Tier III cities. For this, BAI organize 26 BPO conferences across India in 26 different cities.

Bpo The Emerging Business Leader In India

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Bpo India

 

What do you think about when you hear the term ‘BPO Industry in India? A booming industry that offers state of the art infrastructure, immense job opportunities and cool pay packages. India has become a global leader in providing Information Technology Enabled Services [ITES] since the mid 1990s. This can be considered as the foundation for Business Process Outsourcing (BPO) service4s in India.

As BPO industry expanded in India, so did the wide range of service providing companies. Data processing, customer support, telemarketing, insurance processing etc. are some of the services that are on offer by BPO services. India in fact is the current hot shot country with its native English speaking people and low cost of labor. The boom of internet and globalization is another reason for the popularity of Business Process Outsourcing in India as it automatically translates into high demand of IT services.

According to NASSCOM, the current size of BPO sector in India is $11 billion and is expected to grow by fivefold and reach $50 billion by year 2012. Almost 2.5 per cent of India’s GDP comes from the BPO sector. It has a spill over effect on rise in export earnings and employment for nearly 2 million people round the country.

More and more international companies are vying India for outsourcing as a Indian call centers present customer gratification which instantly leads to higher rate of customer retention. This leads to immensely improved productivity and ultimately results in huge profits. Add to it the state of the art infrastructure and highly qualitative training methods which are designed exclusively to meet customer needs. All these have made India a popular and quite cheap destination for BPO services round the world.

Stairs To Build A Dreaming Career In BPO/IT Sector

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Bpo India

Around the world, businesses and companies are facing greater complexity in terms of increasing cost pressures, strict regulatory compliances and rising customer demands in terms of the quality of products and services. In the current economic environment, the companies are pushing towards greater austerity measures for cost control, where outsourcing seems to be a logical option.

In today’s competitive environment, outsourcing services to India is one of the popular business practices. It not only offers benefits in terms of cost reduction, but also in terms of increased productivity and quality of services. Multiple sourcing models and improving & widening range of options in terms of locations in India can enable companies to leverage capabilities and global arbitrage opportunities

It has been found that in the last 20 years business process outsourcing services have created an outstanding impression by efficiently catering to diverse industries including retail, healthcare, telecommunications, technology, travel, insurance, mortgage, banking and finance, and hospitality.

Despite the recession, BPO services have remained popular. This is proof of the cost-effectiveness and reliability of these services. People with good command over the English language have now started looking at BPO jobs as long-term career options. No doubt, BPO companies offer fast-track career advancement opportunities. The industry is expected to generate about three billion jobs by the end of 2012. The salary scale of employees is also rising yearly by 10-15 percent.

Bpo Companies Must Conquer Over Barriers In Small Towns

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Bpo India

Growing at a steady pace, the BPO industry in India has crossed the $15 billion mark. The stimulating growth rates of the past decade seem to have evaporated due to rising infrastructure & operational cost in big cities, global slowdown and competition from other developing countries. But, in order to sustain decent levels of growth, it is imperative for the BPO industry in the country to start looking at other avenues.

The best option available for BPO companies in this scenario is to move towards to Tier II and Tier III cities. Though expanding beyond the tier I cities has been around, a few industry players are already experimenting with the model. According to reports, a number of BPO companies are opening centers in small cities to reduce operational expenditures. These smaller cities offer various advantages such as availability of talent at a lower cost, affordable real estate, local government support and a better quality of life.Apart from definite cost benefit, shift to smaller cities is also due to the fact that these centers experience lower attrition, thus reducing the cost of hiring and training. The attrition rate even in the BPO sector among large companies is around 30-40 per cent.Having lots of benefits, moving to smaller cities is not an easy task as it seems. There are a lot of dependencies on infrastructure and connectivity for a business to set up.

The balancing act is required on the part of the companies who want to leverage the advantages of Tier II and Tier III cities without hampering their quality of work. BPO companies recognize the need for venturing in Tier II and Tier III cities but found hurdles in the form of lack of infrastructure and right manpower.

Setting a similar platform, the BPO Association of India (BAI) and World BPO Forum have joined hands to address the issues faced by the BPO industry in Tier II and Tier III cities and to organize 26 BPO conferences across India in 26 different cities. Babu Lal Jain, chairman WICS & president, World BPO Forum said that BPO players in India can reduce their operational expenses by as much as 25-30% by moving to tier 2 and tier 3 cities. However, there is a need to deal with the talent crunch first, as growth is related to human resources and the industry can only move to places where the resources are available.