THE BPO INDUSTRY IN INDIA
In India, Business Process Outsourcing (BPO) is the fastest-growing segment of the ITES (Information Technology Enabled Services) industry. Factors such as economy of scale, business risk mitigation, cost advantage, utilization improvement, and superior competency have all lead to the growth of the Indian BPO industry. Business process outsourcing in India, which started around the mid-90s, has now grown by leaps and bounds.
India is now the world’s favored market for BPO companies, among other competitors, such as Australia, China, the Philippines, and Ireland. The BPO boom in India is credited to cheap labor costs and India’s huge talent pool of skilled, English-speaking professionals. Research by the National Association of Software Services and Companies (NASSCOM) has revealed that quality orientation among leading BPO companies, 24/7 services, India’s unique geographic location and the investor-friendly tax structure in India have all made the BPO industry in India very popular.
BPO companies offer varied services, such as,
customer support, technical support, telemarketing, IT help desk services, insurance processing, data processing, forms processing, bookkeeping and internet / online / web research.