Indian BPO Industry capable of managing Highly Specialized Assignments and providing complete solution to Knowledge based Services. This involves relevant domain expertise and skilled manpower with High Value infrastructure.
The Indian BPO scenario has grown from transcribing and data entry to rule set based processing where agents are allowing to decision making and trouble shooting based on rules set by the customer and vendors. Hence there is expansion in areas where companies are require expert knowledge services. Some of them are legal services, pharmaceutical marketing, research, analytics for oil companies and many more. In some of the knowledge based services, the agents predict how the preferences of credit card user, their behaviour in investment decision using a database. This will also provide data for market research and analysis or mortage processing.
Each of the mentioned services itself presents a market opportunity of 6-8 billion a year. Market generates a revenue of $17 billion from the global Knowledge Process Outsourcing by 2010. A basic pyramid represents the Indian BPO/KPO area verses value.
Level 1: At the very basic level, the data entry, conversion including medical transcription is categorized.
Level 2: Second level areas are data is analyzed by judgments based on rules set by customer. For example in travel ticketing, a customer may have the choice of upgrading class. Here agents also get upgraded from data entry to web support and basic customer interaction.
Level 3: This level involves more decision and discretion given to the agent. For example, to decide if an loan application is to be cleared or the credit card limit is to be raised. It includes basic problem solving strategies.
Level 4: Direct Customer Interaction is involved here. Sorting out new software queries, collection of delinquent payments from credit card customers.
Level 5: The top level, requires specialization in the respective areas, like IP laws, legal issues on credit card delinquency, scientific and engineering, data base analysis.
There are many challenges ahead, with the BPO l dscape. As the complexity increases there is a need to graduate from simple voice based services to more complex tasks. For example in the Financial sector, asset management, mortgage services will need special knowledge and training. In such cases companies require relevant domain expertise and skilled manpower with respect to specific tasks. India has vast talent pool, there are way many graduates are available. It is an uphill task to train these fresh graduates to undertake a range of activities. Risk in terms of vendors handling sensitive data and competitive client information is enhanced. As the lax in IT laws should make it more easier for the clients take quick decisions on sending sophisiticated work to India. Another aspect is the additional investment to execute processes. There in need for additional investment to provide sophisticated hardware and software. This enables us to analyse the market models and simulation. The key to success in the BPO companies lies in being able to hire the right people for the right job. this also provides a opportunity for the HR groups.