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Bluerock Guide to Indian Offshore BPO Vendors
Business Process Outsourcing (BPO), the act of giving a third-party the responsibility of running what would otherwise be an internal process or service, has been around for a fair number of years now. Insurance companies, in particular, have been incredibly astute in outsourcing responsibility for operating processes, e.g. running closed books of business. Retail and investment banks have also outsourced activities such as loan processing, inbound and outbound call centres, and custody operations.
However, it is only really over the last few years that the outsourcing of process activities to third-party suppliers based in other countries, known as offshoring, has really come into its own. According to Gartner, Inc. (May 2004), expenditure on offshore BPO is expected to reach $3 billion in 2004, a 65 percent increase from the 2003 total of $1.3 billion. Offshore BPO activity is expected to represent 2.3 percent of the total BPO market by 2004.
The current offshore location of choice for BPO is undoubtedly India, driven by a low labour cost base coupled with a large, well educated, English-speaking workforce. Although BPO is available from other offshore locations, this edition of the Bluerock Indian Offshore BPO Vendor Guide focuses on the Indian marketplace, as for most organisations considering BPO, it is the first port of call when drawing up supplier shortlists.
As part of the recent Indian BPO Vendor Survey undertaken by Bluerock Consulting, a number of Indian BPO vendors were asked to provide information relating to their own organisation's offerings, as well as their views on where they see the Indian BPO market both today and in the future. The results of this survey are captured within the Bluerock Guide to Indian Offshore BPO Vendors.
What was remarkable from the vendors' responses was the consistency of message. Whilst all of the vendors who responded to the Survey reported the Indian BPO market as being particularly buoyant at present, the market is not without its challenges, not least the ability to consistently deliver high class services using a transitory workforce. Also of concern to the vendors was any potential public backlash arising from redundancies and job losses as roles are exported abroad. However, this should be balanced against a view that the Indian BPO market will continue to grow, lead by the offshoring of insurance and retail banking processes.
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The purpose of the Guide is to provide a consolidated source of information on many of the largest players in the market using information sourced directly from the individual vendors. The purpose of the Guide is not for Bluerock Consulting to recommend one Indian BPO vendor over another. Any such recommendation can only be achieved with a thorough understanding of an individual organisation's objectives and existing capabilities.
Further information, such as case study material provided by some of the vendors, is available by request from our department. Similarly, please feel free to contact us if you would like to discuss the contents of the Guide, or any of the services offered by Bluerock Consulting.
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