Indian Outsourcing BPO Services to India is one of the popular business practices in today's competitive environment. The Indian BPO industry is constantly growing.
Outsourcing BPO to India - The Cost Savings
Bob Beauchamp, BMC Software President and CEO talked about the backlash in the US where an economic rebound had not created jobs. Addressing the Product and Embedded Software Summit in Bangalore he said that there may be a backlash, "But as studies have indicated that for every one dollar invested in India, the value derived by the US economy is between $12-14." He termed outsourcing to India as "irreversible" and said it was a "must have" to improve the Indian and global economy.
Outsourcing BPO to India - Creates Jobs
It seems contradictory to say that the migration of jobs from one country to another actually creates jobs in the former. However, that can ultimately be the case. According to the NASSCOM report, the BFSI sector have saved $6 billion in the last few years and due to these savings have added 125,000 new jobs in this period thus preventing layoffs.
BPO to India - The Value Addition
The report gives a striking example of the success of the automobile industry in the US due to outsourcing. Today, this industry is the largest in the world and two of the biggest automobile companies are American. The industry has the same number of professionals it did in 1994 as it did in 1974, which is 900,000. Over this same period sales and services in this sector grew 20% from 2 million to 2.4 million. Outsourcing gave this industry a competitive edge and opened up opportunities in terms of investing in new equipment and re-engineering processes.
The Long Term Benefits
Amidst the mounting furor against outsourcing one has to examine things more objectively. In the short term, cost benefits and value addition may not be apparent because of the initial investment involved in training and infrastructure. Also outcries against migration of jobs seem to cement the argument. However, as the NASSCOM report shows, the long term benefits are very powerful. Not only does outsourcing BPO to India allow global companies to avail of some of the best talent and expertise at competitive rates, but it also allows the company to actually save several jobs, which it might have had to lay off otherwise.
Benefits of BPO Outsourcing to SCMS:
Committed and responsive
Availability of state-of-the-art infrastructure
Efficient marketing and consistent support
Meticulous process handling
Multi-channel approach reducing significant cost input
Leveraging bulk volume competently
Reduction in operational inefficiency
Customer Interaction Services - The customer care segment ranks third occupying 28% of the pie. A customer care center is a service center with adequate telecom facilities, trained consultants, access to requisite databases, Internet and other online information support infrastructure to provide information and support to customers. Such centers are used for a number of customer-related functions like marketing, selling, information dispensing, advice, technical support etc.
Medical Transcription Services - Medical transcription accounts for 2% of the total Indian outsourcing services. Medical transcription was one of the first offshore BPO services to be launched from India. This service involves the transcribing of medical records from audio format or dictated by doctors or other healthcare into either a hard copy or electronic format.
