Information Technology Enabled Services (ITES) is one of the fastest growing industries in India, making the country a global leader in outsourcing. With cost advantages, utilization improvements, and superior competencies, India has emerged as a “land of options,” “land of opportunities,” and “land of flexibility” for clients from overseas. Among the verticals of ITES, Business Process Outsourcing (BPO) has contributed significantly to India’s growth.
BPO is one of the significant verticals of ITES, and it has contributed immensely to India’s growth. BPO in India started around the mid-90s, and since then, it has grown by leaps and bounds, making India the most favored destination for companies worldwide, surpassing its competitors like Australia, China, Philippines, and Ireland.
The primary reason for India’s success in the BPO industry is cost-effective human resource cost and India’s huge talent pool of skilled, English-speaking professionals. According to research conducted by the National Association of Software Services and Companies (NASSCOM), India’s BPO industry’s quality orientation, 24/7 services, unique geographic location, and investor-friendly tax structure have all contributed to making it a popular and profitable market for investors.
The most important advantages of BPO:
Productivity Improvement
By outsourcing a considerable chunk of the business to a service provider, the top management of the company can focus on core operational areas, leading to better employee productivity and informed business decisions. India’s leadership in the outsourcing business has allowed parent companies to focus on their core operations and has provided hassle-free space to grow and think in the right direction.
Optimum Utilization of Resources
India’s skilled workforce and adoption of sophisticated technologies lead to the optimum utilization of resources and improved productivity, resulting in a better market position and a competitive advantage.
Reduction in Cost
India offers cost-saving options for investors worldwide. The country not only helps in reducing costs but also increases productivity and raises revenue significantly. This is possible through process improvements, re-engineering, and the use of technologies that reduce administrative and other costs.
Catering to Changing Customer Demands
India’s flexibility in accommodating any demand set by investors provides the management with flexible services to meet customer requirements, support company acquisitions, and joint ventures. This gives India an added advantage among its competitors.
Sophisticated Technology at Lower Cost
India’s growth in the ITES industry has made it a leading contributor to outsourcing. With a tech-savvy and updated youth, outsourcing to India offers a true advantage in keeping up with the latest innovations and solutions. India has the resources, expertise, and desire to continuously update their technological solutions, making it a valuable asset to investors.
Make Non-disclosure Agreement and Conduct Training
Make a non-disclosure agreement with the outsourcing partner to ensure that all data is kept confidential and secure. Ask them to conduct data security training for team members to ensure that they are aware of the security measures that need to be taken when it comes to data sharing.
As the technology market is evolving rapidly, it is difficult to keep pace with the latest innovations and solutions. India stands out as a solution for all with its updated skills and technology. Outsourcing to India, which has the resources, expertise, and desire to continuously update its technological solutions, offers a true advantage.
