High Time to Renovate!
Date: Monday , July 05, 2010
The BPO industry got India the tag ‘back office of the world’. But now Indian players have to strive hard to retain the status as they have to compete with the newer destinations like Philippines, China, Vietnam, and Mauritius. While India's business process outsourcing (BPO) industry is forecasted to increase its revenue this fiscal by 15 to 16 percent, there are serious challenges to achieve the grand goal of $50 billion exports revenue by 2020. The domestic market seems to be a silver lining and it opens the doors for new hopes for the Indian BPO players. But, to win the game it is high time for Indian BPO players to think about the right model and fresh management in order to redirect further growth.
As the domestic BPO market is following the same curve as that of BPO export market to move up the value chain, the challenge for these players will be acquiring the right talent with domain expertise, especially in the rural areas. Moreover, they have to compromise on the pricing and also will have to find their own solutions for infrastructure as there are frequent blackouts in rural India.
In the coming years, opportunities will not only be in back office augmentation, but they will extend to processes through which enterprises will be able to reap the benefits. Though the concept of BPO in prisons and rural areas has already been implemented, it will be difficult to crack the mindset of the customers to gain the buyer’s confidence. It’s high time for all the BPO players to think about a strong business model that will work in the domestic market. Let us wait and see, and not count the chickens before they hatch!
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