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.