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Earnings from backoffice outsourcing in the country will rise fivefold to USD50 billion by 2012 despite a possible recession in the United States, industry group Nasscom said in a report.Business process outsourcing into the country has recorded 35 per cent annual growth over the last five years, hitting revenues of about USD11 billion, with the bulk coming from exports, Nasscom said in a joint study with consulting firm Everest.
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The outsourcing market in Asia Pacific grew substantially in 2007, fuelled primarily by increased demand from corporations based in India, say the latest TPI Index from sourcing advisory firm TPI. Outsourcing in Asia Pacific saw its second consecutive year of strong growth and showed an increase in demand across all measures. Although the number of contracts signed in 2007 grew by just 4 per cent, their total contract value increased 30 per cent year over year from $9.9bn to $12.8bn and annualised revenues showed a 13 per cent increase, nearly double that of the global average. Asia Pacific was the only geography to show an increase across all of these measures.
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Faced with the threat of a US slowdown impacting Indian BPO and KPO industries, India should seek opening up of European markets for its services and take up the issue with French President, Nicolas Sarkozy during his visit to India, the ASSOCHAM has recommended. In a paper on Indias Stance on French President Visit, the industry chamber has also suggested that in its dialogue with French delegation, headed by Sarkozy, India should attempt to increase the investment flow from French companies and bilateral trade, which is currently at low level of USD4 billion and negotiate over the visa issues.
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As Indian ITeS players spread their wings and open global centres, Sri Lanka is fast emerging as a favourite destination for many vendors. Big BPO players including third party vendors and captives are now discovering the benefits of opening shop in the island country. While WNS and the captive player HDPI offshore captive of HSBC set up their centres in Sri Lanka way back in 2004, others are moving there by and by. So far, HDPI is the largest captive BPO in the country with around 2,500 seats and 2,000 employees. While WNS, has around 350 employees.
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Infosys BPO, the outsourcing arm of the second largest software company Infosys, has set up a new unit for its foray in the domestic business process outsourcing BPO business in 2008. Currently, the company doesnb t have any Indian clients. Infosys BPO expects to get the business from three key verticals government, banking and global Indian Companies in the Indian market. In banking, Infosys is already serving some Indian clients through its core banking solution, Finacle. Infosys BPO would try to leverage on that opportunity, said the companys chairman and managing director Amitabh Chaudhry.
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Infosys BPO, a subsidiary of Infosys Technologies, on Wednesday said the company was on the growth path and was hoping to bag at least four outsourcing deals between USD 50 million and USD 150 million each within the next six months. We hope to clinch these deals spread across various sectors, including telecom and banking. We have recently signed deals worth USD 5 to 7 million, Infosys BPO Chief Executive Officer and Managing Director, Amitabh Chaudhry said here.
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2008 will be the year that knowledge process outsourcing. The outsourcing of high value add functions takes massive strides in the UK, the National Outsourcing Association NOA has forecast as part of its annual trends survey.The outsourcers group reckons that knowledge process outsourcing, which covers areas like research and development, will benefit from increasing levels of trust in business process outsourcing.
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It was touted as the first deal of its kind in the Indian BPO industry but just three months after Citibank sold its BPO arm to Genpact for USD630 million, the bank may eventually back away from the deal.It is learnt that Citibank is rethinking its decision to sell its BPO operations. The primary concern revolves around the impact on core banking operations such as customer service which are handled by the BPO arm.
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Six months after bagging a seven year, USD 250 million contract from Royal Philips Electronics, Infosys BPO is bullish on increased business coming its way from the Dutch firm. The company is also looking at expanding the scope of its service offering.
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Contech BPO Services Pvt Ltd, an Ahmedabad based BPO company, has announced plans to expand its back office operations in music and other niche areas, saying it is set to digitise music from the West. Rajan Vasa, Managing Director and CEO, told presspersons that in the US, the size of music market is between USD 20 billion and USD 30 billion per annum and hundreds of thousands of songs in the inventory of various American music companies remain to be digitised. Of these, only about 20,000 have been digitised so far.
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Raman Roys Quatrro BPO Solutions is scouting for acquisitions in USA, Canada, the UK and Australia. It has started due diligence of some of the acquisition targets ranging from US Dollar 20 to 150 million. So far, we have spent a minuscule portion of the US Dollar 300 million we have for acquisitions. Inorganic growth is a key component of our strategy, said Quatrro MD Raman Roy.
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Aside from Wipro, more Indian companies are expected to set up operations in the Philippines to counter rising costs in India.Software company Wipro earlier announced it recently opened a customer service site in Cebu City, looking to employ 900 workers in the province.
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While the BPOs are reaching out to tier 3 and tier 4 cities to reduce their operation cost, on Monday, the industry received an invitation from Jammu and Kashmir government to start their operations.
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Large format Indian retailers and domestic telecom service providers are increasing their spend on market research and analytical work. It was disclosed by Palanivel Kuppusamy, Executive Chairman, Dexterity Group, a Chennai based KPO firm in the Market Research space, who has recently done some pilot projects for the state owned telecom major BSNL on defaulting customers and impact of large retail stores on nearby mom and pop shop owners and other business establishments.
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Indian software services exporter Wipro Ltd has opened a business process outsourcing facility in the Philippines as it expands overseas to cut costs.New Yorklisted Wipro said the new centre in Cebu would hire more than 900 employees and would focus on customer service support, technical support, human resource and financial and accounting services.
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The subprime mortgage crisis and the weakening of the US Dollar have rendered several rude shocks to the outsourcing industry in 2007. Indian companies were especially hit as the Rupee appreciated by 10.9 percent in the last 12 months 14.2 percent in the last 15 months against the US Dollar. Investors, analysts and the media have been speculating about the impact of margin pressures, risk of business loss in the US, further Rupee appreciation coupled with domestic inflation, etc. This will continue through 2008, as we watch the US slowdown play out, much depends on the extent of the slowdown will it become a full blown recession.
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Dun and Bradstreet, the worlds leading provider of global business information, knowledge and insight, today, released its study on Indias Top ITeS and BPO Companies 2007. The study covers 71 per cent of the total Indian ITeS and BPO employee base of more than half a million people as per the NASSCOM estimate. The top 10 ITeS BPO companies as per the study employ around 40 per cent of the total employee base of respondent companies.
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Spanco Telesystems and Solutions Ltd, one of the leading Telecom System Integration companies in India,announced its foray into domestic BPO services. The new venture, Spanco BPO has set up twoflagship customer support centres in Gurgaon and Mumbai to provide back office and contact centre services to domestic clients. These will encompass customers across diverse segments including Financial Services, Insurance, Telecom, Entertainment, Retail and Hospitality sectors in India.
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