Indian BPO potential still untapped, says study
May 8, 2007 - 6:35:15 PM
New Delhi, May 8 - Indian IT companies, which are bagging multi-million-dollar deals every other day, have not yet fully tapped the huge global offshoring market, a global consultancy firm said here Tuesday.
The study called 'Business Process Outsourcing: Indian Supplier Landscape', conducted by the Everest Research Institute, also indicates that offshoring of business functions like finance and accounting, customer service and human resources to Indian suppliers is becoming increasingly mainstream.
The survey covered Indian IT firms with revenues of over $100 million or more than 10,000 employees, which included EXL, Firstsource, Genpact, HCL, IBM Daksh, Infosys, TCS, TransWorks and Wipro.
'We're starting to see buyers engage in large, multi-process, global deals with Indian suppliers based on the strong capabilities that these suppliers are developing in different areas,' said Sheetal Bahl, research director, Everest Research Institute, the research arm of the Everest Group.
'While North American companies currently contribute the largest amount to offshore BPO, the market is still nascent leaving significant opportunity for near-term growth,' Bahl said in a statement.
The study also noted that Indian BPO suppliers are developing capabilities to move beyond the low-cost provider model and become end-to-end process owners.
It also said that to continue to deliver strategic value and become end-to-end process owners, suppliers will need to make significant investments in people, processes and technologies.
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