BPO is a segment of
outsourcing, which consists of subcontracting the business processes of an
organization to a third-party vendor that has expertise in required domains. It
is an effective strategy of delegating one or more business activities to
external companies (vendors), which, in turn, administer and manage the selected
activity, based on defined and measurable performance criteria. It helps client
firms to increase their operational efficiency, concentrate on their core
competencies, reduce time to market, obtain access to fresh talent and
experience along with latest technologies, and build an organization with an
economical cost structure in the long run.
Analysts forecast
the Global BPO
market will grow at a CAGR of 5.63 percent over the period 2013-2018.
T he Report
recognizes the following companies as the key players in the Global BPO Market
: Accenture Plc, Capgemini S.A., Genpact Ltd., IBM Corp., Tata Consultancy
Services Ltd., 3i Infotech Ltd., Aditya Birla Nuvo Ltd., Aegis Ltd., Aon plc,
Cognizant Technology Solutions Corp., Convergys Corp., EXLService Holdings
Inc., Firstsource Solutions Ltd.,HCLTechnologies Ltd., Hewlett-Packard Co.,
Hinduja Global Solutions, Infosys Ltd., Intelenet Global Services, NCO
Financial Systems Inc., Wipro Ltd. , WNS (Holdings) Ltd., Xerox Corp.
Cloud technology is
revolutionizing the mode of outsourcing business processes. With its usage, BPO
clients can have instant access to applications on demand and eliminate the
need to invest in IT infrastructure. Though many BPO clients are still
hesitant regarding its usage because of concerns of data security, return on
investment, high initial investment, high cost of upgrades, maintenance, and
acquiring a new project, several clients are increasingly adopting this
technology in view of its disruptive levels of productivity improvement and
business enablement. Some of the advantages associated with adopting a
cloud-based BPO service are cost reduction, reliability, scalability, and
agility.
Covered in this Report
The Global BPO
market can be segmented on the basis of BPO applications into the following:
CRM, F&A, HR and Others that include procurement, and engineering and
R&D BPO functions. The report also discusses in detail the market spending
across end-user segments and covers the spending across key geographical
regions in the market.
Global BPO Market
2014-2018, has been prepared based on an in-depth market analysis with inputs
from industry experts. The report also covers the Global BPO market landscape
and its growth prospects in the coming years and also includes a discussion of
the key vendors operating in this market.
According to the
report, cost-effectiveness of outsourcing certain capital and labor intensive
operations is one of the major factors driving the growth of the market. These
firms are increasingly outsourcing their back office functions that require
more infrastructure, capital investment, and human resources. Outsourcing these
functions enable the firms to improve efficiency of operations and cut costs
though labor arbitrage.
Further, the report
states that the future of the Global BPO market is, however, constrained by
certain factors; the most important among them being the rising attrition
rates. BPO jobs are mainly taken up on a temporary or part-time basis and hence
the turnover rates of employees are very high.
Key Regions
- Americas
- EMEA
- APAC
Key Vendors
- Accenture Plc
- Capgemini S.A.
- Genpact Ltd.
- IBM Corp.
- Tata Consultancy Services Ltd.
