Summary
This report discusses the concept of BPO , its entry in the Indian markets , its reasons for doing so, its present and projected growth, the competition given to the Indian BPO industry by the developing BPO demand in China and also discussing the BPO industry and its growth in China and the major catalyzing factors taking the BPO to the Chinese markets.
BPO industry in Indian is fuelled and propagated by the youth and it is the presence of this youth that this particular industry has been able to penetrate the Indian market and attain the spectacular lightning fast growth that it has
The demand for BPO industry came as a majority from students who wanted to bear their own expenses or get some more “fun” money. This seemingly innocent demand by the youth has given birth to an industry so massive that yet in its cradle, the BPO industry has become a colossal giant, loosely organized, yet powerful, and matter of fact so big that its contribution towards the Indian GDP is a 2.5% and growing by 10% per annum.
While the majority of the force in a BPO is constituted by the youth, suffice it to say that it is governed by the iron fist competitive matured market players deeply seated in the worlds IT market.
BPO – Business Process Outsourcing – An Introduction
Business process outsourcing (BPO) is a broad term referring to outsourcing in all fields. A BPO differentiates itself by either putting in new technology or applying existing technology in a new way to improve a process.
Business Process Outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that in turn owns administers and manages the selected process based on defined and measurable performance criteria. Business Process Outsourcing (BPO) is one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry.
Few of the motivation factors as to why BPO is gaining ground are: