Outsourcing of business responsibilities to a service provider from an external company has emerged as a global trend. India is a major player in providing back office services to big companies mainly from the USA. The sudden growth of outsourcing operations opened up more than a million direct and indirect job opportunities in BPO industry. The governmental policies in India have been liberated for the inflow of foreign exchange. The major crisis of unemployment faced by the country can be resolved by the growing mass of IT BPO industries.
The contribution of BPO industries to the economy of India has increased considerably over the past few years. Call centre units can be easily set up for the functioning of non-core operations of an external company. The intense competition in the IT sector has led many companies to depend on outsourcing for survival. The advantages of outsourcing are mainly low cost, risk management, specialization, advanced technology and maximum utilization of local resources. It also leads to the generation of a pool of opportunities in BPO industry.
Services and opportunities in BPO industry
Business Process Outsourcing covers major areas like Reengineering Consultation, IT Architecture, Technical Recruitment, Insurance Claim Processing, Telemarketing, Technical support, Operational Transfer, Online Data Processing, Online research and IT substructure. The National Association of Software Services and Companies – NASSCOM claims that India holds a top position in providing BPO services.
More than a thousand IT graduates pass out every year. Providing career opportunities to the fresher’s could be a major issue. Opportunities in BPO industry are enormous such that that all young and dynamic IT graduates have the potential of acquiring jobs in outsourcing companies.
The benefit is by providing quality products with an emphasis on skill and cost effectiveness. Business Process Outsourcing buyers are concerned with the transparency in services. Intense training programs are conducted for the acquired human resources in order to provide consistent services to the clients. Pay scales are huge compared to similar companies from the IT sector.
Moreover, permanent job opportunities in BPO industry cannot be guaranteed. A study reveals that a massive growth can be expected in the ITES-BPO (Information Technology Enabled Service – Business Process Outsourcing) industry.
Outsourcing has been extended to services in industries like healthcare, retail, mortgage, banking, telecommunication, travel and hospitality. The services rendered are more customized to meet the specific requirements of the clients. Client companies can channelize their focus on core competent tasks by outsourcing lower degree operations.
Proper tapping of opportunities in BPO industries is essential because of high level competition that exists among outsourcing companies.