GROUP CEO, WNS
Year 2013 is set to be another ground breaking year for BPO industry in India and globally. I foresee the BPO sector to grow at a steady pace. The outsourcing represents one of the highest potential for India’s economic growth and will continue to grow further to become larger than the IT business itself. Today outsourcing companies have created a niche for themselves, moving much ahead of simple voice based back office work to high-end knowledge and skill-based work. The industry today recruits chartered accountants like me; we recruit engineers, doctors and PhD holders, who hold the future of this business. The industry is no longer business process outsourcing, it has evolved into business process management (BPM).
There are following key points that need to be considered in foreseeing the growth of BPM industry:
Companies like WNS have looked at a larger canvas by going global, taking up global opportunities for revenue growth, optimising supply chain, client partner approach and investing in cutting edge analytics, are factors adding to the growth of the Indian BPO industry.
New emerging verticals like shipping & logistics, healthcare and retail will bring major business to Indian BPOs, owing to our current capability in analytics, finance & accounting, and research. Apart from these, Indian BPO players still have an edge above others due to the two old and basic factors—cost arbitrage and scale of resources, which will help India, reach the $9.5 billion mark smoothly.
Another key factor pushing growth of the Indian BPO industry is transformational outsourcing. This driver will change the way the world looks at outsourcing. Transformational outsourcing will open a new array of opportunities for both providers and clients, with a range of new service offerings, innovative and cost effective business models that will help clients’ attain optimum results beyond their expectations.
With this being the reality today, I expect to see the following unfold in 2013:
Using analytics as a revenue generator: Analysis is more important than ever, given today’s economy. We believe that analytics driven experimentation and performance improvement will be a key driver for businesses to be future ready. It’s hard to find trends manually. Technology can point out trends that the naked eye can’t see. Spotting these trends early is critical because then companies can make business decisions based on the trends currently shaping the market.
Vertical BPO: The vertical model of service delivery in BPO is a trend that will