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A global consultancy firm asserts that Indian IT companies, which is bagging multi million-dollar offshoring deals every day, has fail to capitalize the huge global offshoring market.
The study conducted by the Everest Research Institute, called "Business Process Outsourcing": indicates that offshoring of business functions like finance and accounting, customer service and human resources to Indian suppliers is becoming increasingly mainstream.
The survey covered Indian IT firms with revenues of over $100 million or more than 10,000 employees, which included EXL, Firstsource, Genpact, HCL, IBM Daksh, Infosys, TCS, TransWorks and Wipro.
"Were starting to see buyers engage in large, multi-process, global deals with Indian suppliers based on the strong capabilities that these suppliers are developing in different areas," said Sheetal Bahl, research director, Everest Research Institute, the research arm of the Everest Group.
"While North American companies currently contribute the largest amount to offshore BPO, the market is still hopeful leaving significant opportunity for near-term growth," Sheetal said in a statement.
The study also noted that Indian outsourcing suppliers are developing capabilities to move beyond the low-cost provider model and become end-to-end process owners.
It also said that to continue to deliver strategic value and become end-to-end process owners, suppliers would need to make significant investments in people, processes and technologies
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