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BPO operations in India kick started with voice based transactions. However, the industry is now doing exceptional complex work, including analyzing investment portfolios, advising credit card companies on collection strategies, securities market research, supply chain inventory optimization and budgetary planning for its clients. The industry is developing future-ready solutions by developing in-depth capabilities across verticals and creating customer impact through service delivery excellence. It has successfully been able to position itself as a partner to customers and has changed the way service is being delivered to create a broader impact on clients.
Therefore, we now feel that is important to recognize and communicate that the industry is no longer only about outsourcing and has moved up the value chain extensively. Witnessing the industry’s exceptional performance, NASSCOM now wants to replace the acronym BPO that the world has come to associate with India over the past decade, with Business Processing Management (BPM). We firmly believe that BPM is more appropriate an acronym for the industry's current maturity level as it has gone up the value chain, managing entire businesses processes of clients and not just outsourcing them.
Post the NASSCOM BPO Strategy Summit 2012 where we first unveiled the moving to BPM strategy of the industry; we have received immensely positive response from key stakeholders on our rebranding attempt and have therefore stepped up our efforts to communicate the same to all in the eco-system. The tremendous growth that Indian companies showcased during the economic downturn and their rapid transformation from business process outsourcer to business process manager are the two most vital factors which have helped India maintain its leadership position in the global sourcing market and we believe it is important to communicate the same.
We seek your support to establish the BPM brand and continue to use it in all your tools of communication used internally and externally to support us in our endeavor of rebranding the BPO industry. If we continue working in the same momentum, we can collectively deliver enduring growth to the sector and emerge as an empowered BPM industry of India.