Analysis & Outlook
India Business Process Management Industry 2013 – BPO Industry rebranding
NASSCOM, IT Industry Body in ...
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India Business Process Management Industry 2013 – BPO Industry rebranding

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NASSCOM is trying to rebrand Indian BPO Industry to Business Process Management Industry.

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India Business Process Management Industry 2013 – BPO Industry rebranding

  1. 1. Analysis & Outlook India Business Process Management Industry 2013 – BPO Industry rebranding NASSCOM, IT Industry Body in India is working to rebrand the Indian Business Process Outsourcing Industry to Business Process Management Industry which is a difficult task as it still needs to convince clients, job aspirants and other stakeholders. The BPO is often associated with low-end work night shift based typical call centres selling credit cards and insurance policies to foreigners.India's BPO services industry accounts for 38 per cent of the global market.But Indian BPO industry has moved away from this low end work to high end work involving analytics, MIS, Knowledge process outsourcing, legal process outsourcing, Healthcare and medical related work. This has led to the rebranding exercise by NASSCOM for creating a stronger image for Indian BPO Industry that will improve its identity as a full-service value provider that specializes in providing performance-based services. India's BPM industry directly employs about 1.1 million people and this figure will touch 1.8 million by 2020. The sector is expected to grow to USD 50 billion by 2020 from USD 20.8 billion in 2012-13 fiscal at a compounded annual growth rate of 13 per cent, according to NASSCOM. Global BPM sourcing market is currently valued at about USD 150 billion and India is expected to capture major share of this industry and Indian IT-BPO players are well equipped, as they have built the necessary technological expertise in Business Process as a Service (BPaaS), automation, IT-BPM interplay, etc. India’s BPM industry has changed its pricing models wherein it offers tailored pricing models like outcome based pricing model, according to client requirements, according to NASSCOM President Som Mittal.Already, the industry had moved to a non-linear trajectory. "The industry's growth from $18 bn to $20 bn was non-linear as people addition was far less compared to the normal course," according to Raman Roy, founder of BPM firm Quattro and who is regarded as one of the pioneers of India's BPO industry.Domain specialists in sectors like healthcare and retail will be the growth drivers for India's business process outsourcing (BPO) services industry, according to industry body NASSCOM. Nasscom president Som Mittal said the association was launching an outreach program that engages with various influencers, including academia and parents, about career options in the BPM industry. Indian BPO Industry has been developing transformational outsourcing models that are more integrated with IT technologies and delivering clients huge value benefits and are also impacting the business outcomes of their clients. Higher end work in the areas of analytics, market research, MIS, customer relationship management, social media marketing, etc. and highly specialized work related to LPO, Healthcare outsourcing is also being outsourced to Indian vendors like Genpact, WNS, TCS BPO, Infosys BPO, HCL BPO, etc. Mergers and Acquisitions are also increasing as the Indian BPO players are looking to acquire new skills and technologies and offer them to clients that will not only increase their revenues but also increase their profitability. They are also establishing near shore development centers in Mexico, Brazil, etc and also in eastern European countries like Poland, etc. Indian BPO Industry has transformed into BPM Industry and looking to continue its growth trajectory. Rajesh Prabhakar Analyst Bio @ http://itbizcharts.blogspot.com/

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