The Asia outsourcing market has been a major global player in the BPO scenario. The BPO industry in Asia is growing wealthy at a rapid pace when compared to other markets. According to Brookings, the independent and trusted think tank, Asia will become home to 64% of the middle class population on the global map by the year 2030. Recent years have witnessed the emergence of several regions in Asia in the worldwide outsourcing scenario.
The vast amount of human resources in addition to marked difference in labor costs in comparison to the West has made Asia the preferred destination of many companies. These are the visible benefits that the Asia outsourcing market has to offer. Business tasks can be completed at a lower price with better quality. For instance, when work is outsourced to Indian shores, the savings in revenue are about 60%.
Many companies have therefore set up their base in the Asia outsourcing market as a strategic location. There have been long-term players in the BPO industry who had realized the potential of this region far back.
For instance, Accenture completed 20 years of offshoring operations in the Asia Pacific region, in 2011. This company has been successful in tapping the vast potential offered by this region and has been able to set up a stable infrastructure for the smooth conduct of business operations.
Accenture has delivery centers in countries such as Malaysia, India, China, and the Philippines.
Battle for Asian grounds
In the Echelon Ignite event held at Sydney recently, several startups from Australia pitched their products to gain a place at the main event to be held on June 4, 2013. This event is a one-day affair that showcases technological and business services and products. The theme was set as “Understanding and Creating opportunities in Southeast Asia.” In this event, premier content from experienced and prominent business heads were featured. These players had successfully navigated the Asian outsourcing market to build up successful ventures.
The leading participants included, Jungle Ventures, Builk Asia, e27, Pollanizer, and Capital Ventures. Prominent tech startups based in Australia had the opportunity to showcase their novel business models and innovative technological tools, while vying for a place alongside some of Asia’s pioneering startups at the main Echelon event. The competition witnessed in this event was only a tip of the iceberg with respect to the battle for tapping into unexplored prospects in the Asian outsourcing market.
The BPO industry has set a firm foothold on the Asian continent. However, more avenues need to be explored in this realm, for the Asian outsourcing market to realize its full potential. Hindsight has led many investors to start taking steps in this direction, so that the untapped reserves of this offshoring sector can be brought to light and utilized to their full extent.