August 30, 2011: Many Indian firms are focusing on improving their business in the U S and U K near shore market, where they are finding immense opportunities and scope for business. Indian firms are finding entering into near shore market more feasible.
WNS limited, a NYSE listed company which is into providing business solutions for more than 200 clients across the world is planning to make quick measures to catch up growth in the market.
WNS is into business solutions for travel, insurance, banking and financing and etc are not showing any satisfactory performance in the market. Mr. Keshav Murugesh, the CEO of company is planning to take measures to regain the lost market position in the past few years. The company is planning to put up new Near-shore units in the U S very soon. The CEO of the company said that, they are trying to concentrate more on organic growth. Earlier the company was one among the best BPO in India but at present the position has slipped a bit. WNS is planning to look at margins globally. According to him there are areas such as analytics and finance & accounting which are doing good business.
More Indian players are concentrating on investing in the Near-shore market of U S and U K. It is because of the scope prevailing in doing business over there. Indian players have immense experience in Business Process Outsourcing and at the present scenario concentrating more on near shore market will decrease the indirect costs and the attrition rate. Attrition is again one of the major threats faced by Indian Business Process Outsourcing (BPO) firms. Here is India young graduates are not looking forward to stick on to BPO companies.
Other benefits are that the employees will find it more comfortable to work in the same time zone, thus shift work can be avoided. Similar culture will also encourage the employees to stick on the job as they don’t have to face the difficulties of cultural problems. Mature quality model, digital process, globalize operation, reduced complexity and optimized cost are other benefits.
Outsourcing to India is about to witness many unexpected trends in the near future. There is an expectation of public sector companies to depend more on outsourcing for their day to day transactions to be done. And moreover the BPO firms are getting well equipped to deliver quality and technologically advanced services. In the long run Business Process Outsourcing sector is about to grow at a higher pace.