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A report by the International Data Corporation (IDC) "First There was Offshoring, now there is Homeshoring" reveals a rise in "homeshoring" among call center and business process outsourcing providers located in Asia Pacific countries.
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It is a given fact that Indian BPO bazaar is rocking. However, multinationals like Apple, PowerGen and Belair had to shut shops in the country. Market analysts assessing the situation that caused these MNCs to quit shops from what is easily one of world's fastest growing BPO markets, are putting it as a case of miscalculation.
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Market research firm Datamonitor PLC predicts that offshore outsourcing by financial services firms will double over the next four years as these companies turn over larger and more strategic parts of their operations to offshore providers.
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One more step was taken by the Indian BPO industry recently as the first India-based business process-outsourcing (BPO) firm was listed on New York Stock Exchange (NYSE). On July 26, Neeraj Bhargava, group CEO of WNS Global Services launched the trading of the WNS scrip on NYSE, ushering in a new era for the Indian BPO industry.
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Indian design is no longer just ethnic; in fact it is now more global than ethnic. Latest news from the offshore outsourcing world indicates that India is fast emerging as a new age design hub for global consumer electronics manufacturers and FMCG giants.
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The pharmaceutical and life sciences industries are flushed with quality IT services, with eight companies that have a specialist life science/pharmaceutical focus being featured in the top 20 of the first-ever listing of the world's top outsourcing service providers.
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Indian BPOs are in a buoyant mood after bagging some of the biggest contracts in IT/ ITES outsourcing. And anyone daring so much as to suggest imminent doom for the industry will be immediately silenced.
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As offshore outsourcing become fashionable even to fortune 500 giants, it is no surprise that outsourcing companies are making a kill. Not to mention, expanding like crazy. And expansion plans are taking some of them far, with countries like Romania, Brazil, China, Singapore, Vietnam, exotic African locations all figuring in the list.
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In today's world of customised services, Cambridge University Press (CUP), the world's oldest publishing house, coming up with an offer of customised course for BPO aspirants is hardly surprising. And India with its booming BPO business is the ideal place to launch it.
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Singapore is consolidating its place in the outsourcing world. The country's efforts to further consolidate its position as a centre for high-end operations had received a shot in the arm when Credit Suisse, the Swiss bank, announced in May that it was to expand its back room operations in Singapore by taking on 900 staff.
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WNS (Holdings) Limited a top multinational BPO in India, is all set to launch its IPO, providing investors a chance to place their bets on India's booming service industry. WNS (Holdings) Limited, Mumbai, plans to offer 10,428,708 American Depositary Shares representing an equal number of ordinary shares at $18 to $20 per ADS through underwriters led by Morgan Stanley. The proposed New York Stock Exchange Symbol is WNS.
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If people thought they could come to India, open an office, hire people to run it, run it for a while; then just shut it down and go the way they came without settling neither the employee dues nor giving any explanation for not paying the same; they thought wrong.
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With the tax sops for IT-BPO sector slated for withdrawal by 2009, concern is being stirred regarding the impact of this move. A slew of tax exemptions, duty exemptions on import of equipment and on earnings, exemptions for technology parks etc. are to be taken away.
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Recurring frauds are causing untimely headache for Indian Business Process Outsourcing industry all set to cross the $8-8.5 billion mark by the end of current financial year. At a time when Nasscom is boasting about the 27-30 per cent growth rate of the industry, a report by US based research firm Forrester has highlighted the security concerns involved in the process of offshore outsourcing to India.
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Experts warn that BPO employees who work night shifts continuously will have to pay a high price for their fast life. New studies indicate that ageing would be faster, if sleep is deprived continuously over a long period.
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According to figures released by sourcing advisory firm TPI, the market share of Indian service providers, whose market share has risen to 5.2 percent of the total value of contracts signed so far this year - up from less than 3 percent in 2005 and just over 1 percent in 2004. The figures confirm the fact that Indian service providers have bagged the biggest outsourcing deals this year.
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A study done by Chicago based consulting firm Diamond Cluster International, predicts that the IT outsourcing boom is over in India. It says that labour shortage is sure to sound the death knell for Indian companies, as IT and BPO service hubs around the country such as Bangalore, Chennai, and Hyderabad find it increasingly difficult to recruit enough English-speaking workforce.
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Following the 7/11ttacks the IT companies in and around Mumbai have adopted stringent security measures to neutralise or minimise potential risks. This is particularly true in the case of companies located in the IT hub of Pune, where nearly 200 software firms have offices.
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Offshore outsourcing is an intricate process by all means. It can be a success only if both the parties involved stay committed to keep their end of the bargain. Proper communication and mutual understanding is also needed to ensure success of a deal. And deals generally thrive in firms with a clear-cut outsourcing strategy.
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As attrition rates climb, BPOs are finding new ways to hold back much-valued manpower. And Internal Job Promotion (IJP) rates high, in every company's attrition prevention strategy. IPJ will mean better package, higher designation and perks, all packed in one promotion.
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Call center executives from offshore locations sometimes betray their native accents despite intensive training given to acquire customer accents and culture. And there are customers who dislike the very fact that their calls are attended from some offshore location. Further communication problems make matters worse.
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It seems Knowledge Process Outsourcing (KPO) is going to be the next big thing to hit the Indian outsourcing sector. Experts point out that factors like cost savings, operational efficiencies, access to highly talented workforce and improved quality are attracting many a foreign firm to outsource high-end specialised jobs in the knowledge process category to India.
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SMEs in the BPO sector are exploring a new business model to stay afloat in a market dominated by biggies. Small and medium players here are now acquiring loss making or stagnant companies in the UK and the US, who can't contain their costs or who want back office presence in India.
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In Bangalore last week, local police arrested Nadeem Kashmiri bringing back to fore data privacy and potential security breaches in back office transactions. An employee of HSBC Electronic Data Processing Private Ltd---a Bangalore-based captive business process outsourcing outfit of Europe's biggest bank, HSBC
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Local firms engaged in information technology and business process outsourcing are embarking on a precision campaign to tap Western Europe's fast growing markets, which makes up a fifth of the global market that is projected to reach $310 billion in revenue over the next three years.
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New methods of outsourcing are today redefining the way of working. One such way is co sourcing which is an investment relationship marked by shared objectives shared risks and shared rewards between two companies, one of which is a service provider.
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The strong growth that Indian BPO exports have experienced over the past two fiscal years will slow down in the coming year, according to the annual report released by Indian trade group Nasscom.
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Indian BPO professionals' salary in 2010 will be 15% of their US counterparts. India is expected to maintain its edge over its global counterparts in the outsourced IT Services (ITO) and business process outsourcing (BPO) sectors.
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Call centre operators in Singapore command at least three times more in wages than their counterparts in India, a news report said on Monday.
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The low cost BPOs in Asia and the Middle East are threatening the existence of Canadian call-centers, which though producing high quality work could never match the lower production rates offered by the former.
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Lesser-known Chines towns like Xi'an (pronounced Shian) are trying hard to attract foreign companies to use their business process outsourcing (BPO) services. And Xi'an is not alone in its efforts; places such as Dalian, Nanjing and Shen Zhen all have software parks.
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