Comprehensive insights into the opportunities presented by BPO as well as an ideal path forward for leveraging such opportunities for the developing nation is considered. The article provides a detailed overview of the market opportunity, potential benefits to developing nations, key selection drivers, conducting self-assessments and, the final development of an Investment Promotion Strategy.
Business Process Outsourcing or BPO as it is commonly called is the process of either contracting operations and responsibilities of specific core business functions or processes to a third-party service provider or reorganizing it within a shared services facility in a low cost geography. This includes outsourcing of business processes and functions such as customer service, technical support, accounts management, payroll processing, among others. Over the years, as a number of clients have realized benefits of BPO and as the service provider market has matured, this industry has evolved from providing simple voice based support to transaction based services and now increasingly decision support or knowledge based services. Global BPO Industry presents a huge opportunity for developing nations. The global market size for BPO services has been estimated to be over USD 115 bn in 2008. The industry has grown significantly over the last few years and is expected to reach USD 181 billion by 2012, growing at a strong and steady rate of over 11% per annum.
Click download to read more.