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BPO to surpass IT outsourcing in 2012 |
| by In The News - 11/01/2008 |
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| "Business Process Experts and Analysts forecast that the Business Process Outsourcing would surpass IT Outsourcing in the next four years at the Senior Leader’s Forum held by BPIAI. The major players & experts gave their views about future of BP industry.." |
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Business Process Experts and Analysts forecast that the Business Process Outsourcing would surpass IT Outsourcing in the next four years at the Senior Leader’s Forum held by BPIAI. The major players and industry experts gave their views about the future of the BP industry in India and the strategy which should be adopted by the players in these times of Financial Crisis. The forum was headed by Mr. Samir Chopra, President - BPIAI and had enlighting talks from nine other industry players and experts.
Speaking at the forum, Mr. Sámi Chopra, President, BPIAI said “The current financial meltdown is probably the biggest financial crisis after the Great Depression in the US. It is a matter of concern for us. But there is no need for the BPO industry to panic. We should cooperate and collaborate amongst ourselves to address the problem. The effect of the crisis would fade away in the next few quarters. We have to look beyond that and formulate strategies for the long term.”
The forum addressed a number of issues related to the BPO sector. Mr. Praveen Senger, Head- Software and Services Industry Vertical Research, IDC India, talked about the future of the BPO Industry. He said that with a CAGR of 43% as compared to 25% of IT Outsourcing, the BP Outsourcing shall surpass it in 2012.
Rural BPOs were discussed in detail by Mr. Karthik Raman from Source for Change- an organization which set up one of India’s first rural BPOs in Rajasthan. He said that Rural BPOs are not just fulfilling a social cause but it would actually make money for the clients by addressing the huge market opportunity which lies in rural India.
Ms. Oshani Perera from the International Institute of Sustainable Development, Switzerland emphasized on the need of focusing on environment issues as they would be playing a major role in the future. They would be a business necessity rather than just a marketing collateral in the future.
Eminent names from the industry comprised the panelists for a detailed discussion at the leader’s forum. Mr. Vikram Beniwal from Baring Private Equity Partners discussed as to how the domestic BPO sector is coming up as an attractive investment option as compared to the International part of the business.
Mr. Manoj Malhotra, CEO Salient Business Solutions, emphasized that Quality is going to be the key to sustaining India’s competitive advantage as opposed to cost in the future. India needs to be seen as the player providing the best services rather than the cheapest services.
Mr. Leslie D’Monte, Associate Editor, Business Standard stressed on the importance of a sound Global Delivery Network for the Indian BPO Industry. He expressed his optimism for the Domestic BPO sector in India.
Mr. Deepak Wadhavan from KPMG underlined the fact that the industry scenario would change very soon. He said that currently 80% of the business comes to the top ten players. This is going to change as the domestic players are going to get stronger in the time to come.
Mr. K. V. Subramaniam. CFO, Oracle Financial Services BPO gave the concluding remarks. He said that outsourcing is not an option but a necessity for any business. So the despite the small hiccups like the current financial crisis, outsourcing industry will only grow stronger.
The forum witnessed a number of delegates from the management of the leading BPOs in India.
Courtesy: http://www.moneycontrol.com/
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