BPO summit in India to focus on attrition, merger issues
Saturday, 29 May 2004, 19:30 IST
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NEW DELHI: A two-day IT summit, to be held in Bangalore next month, will deliberate on crucial issues like high attrition rate and growing merger and acquisition deals in the fast growing business process outsourcing (BPO) industry. The sixth ITES-BPO Summit 2004, organised by the National Association of Software and Service companies (Nasscom) June 9-10, will also provide a networking platform for Indian companies. "The purpose is to discuss the challenges that BPO industry is facing these days," said Sangeeta Gupta, vice president of Nasscom, India's premier IT industry umbrella group. "All important issues concerning the BPO industry like attrition, recruitment, training, information security, infrastructure, real estate and telecom will be discussed in the summit," Gupta told IANS. Indian ITES-BPO industry has a high attrition rate of 30-35 percent. Experts warn if the companies fail to check the spiralling turnout rate it will badly affect the growth of the booming industry. According to Nasscom, the event will bring together ITES-BPO industry captains, venture capitalists, customers, analysts and government officials. "The conference will also focus on operational excellence and strategies for the industry to sustain and further improve its competitiveness in the global economy," said Gupta. Over 200 companies are currently operating in the ITES-BPO segment in India and the number is growing every year. The industry, which has helped India emerge as an electronic housekeeper to global firms like GE, British Airways, and Citibank is expected to grow seven fold by the end of 2008 generating revenue of $21 billion, up from $3.5 billion now. During the fiscal 2003-04, the ITES-BPO segment is estimated to have achieved a 54 percent growth in revenues as compared to the previous year. "Multinational corporations and third-party BPO leaders will address the issue of mergers and acquisitions and how they are transforming and bringing maturity to the ITES-BPO industry," said Gupta. "Information security, one of the most important issues for the Indian ITES-BPO sector, will also receive attention." Prominent speakers at the summit will include representatives from Mckinsey, Cisco Systems, EXL Service, Wipro Spectramind, Daksh-eServices, and ICICI OneSource, said the IT industry lobby group. "This summit is designed to provide in-depth, action-oriented information on key technologies and essential strategies required for making organisations productive and efficient," said Gupta. A human resource workshop will be conducted on the sidelines of the summit, addressing issues in communication, training, recruitment, and attrition management. International and local experts are likely to address the workshop.
Source: IANS
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