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.
The BPO industry is foraying into a new phase wherein customers are witnessing the initial benefits of the providers’ services. BPOs currently offer services on big data, business analytics, cloud delivery, mobility. Additionally, automated sub-process solutions with industry specific BPO services are among emerging trends in the sector.
This report: Global BPO Market 2014-2018 provides a detailed analysis of the market and focuses on the major players, recent developments and key drivers of the global BPO market.
The global BPO industry is surging ahead with rapid growth based on increased spending on BPO services by companies. Leading global companies are increasingly resorting to BPO as a tactical business strategy and technological advancements have led to market shifts. For example, in the call center BPO market and the mobile customer care, emerging delivery models like home based delivery agent along with on- demand contact center services are replacing traditional voice interactions.
BPOs are making news in areas such as HR, engineering design and R&D. Organizations have realized that outsourcing business services are proving to be more cost effective and efficient. This practice has gained prominence in the post recession environment which calls for procedures that help enterprises keep cost under control to maintain competitiveness in the market. By outsourcing the non-core processes, enterprises can spend their resources and time on building the business.
Small and medium sized businesses are slowly opening up to outsourcing. Vendors on the other hand are preparing to cater to the growing demand with low priced, customized and flexible business solutions.
The key players in the global BPO market include 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.
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