Business processing outsourcing (BPO) is the world’s most raising business in the world. Which is now on the table of the analysists and the researchers around the world? BPO is the multifunctional business which has literally no bondage.
According to Forbes.com Inc,it is the most revenue earning resource sector in the modern business. In 2015, Forbes.com Inc, has released “World’s Biggest Public Companies” annual list who are engaging on BPO businesses. This list is based on four metrics :Sales, Profit, Assets and Market Values.And the top companies of that list are also the revenue holder in 2016 too.And most of the cases they gain their revenues which they made previously.The companies are Apple,JP Morgan Chase & Co.,Berkshire Hathaway,Gilead Sciences,Verizon Communications ,Citigroup,Alphabet (Google), Exxon Mobil,Bank of Americaetc.Like an example,JP Morgan Chase & Co. which has $24.4 billion the revenue on 2015 and it’s growing it’s revenue on 12% in 2016.Similarly the giants are who are in the list they also dominated the business with oil companies, Banks and others. Most of the enlisted companies are doing their outsourcing business from USA to India, Philippines,Malaysia,Chile,Indonesia,Bangladesh.Some other companies like Telstra who is the biggest investor in Philippines. Who set up their largest BPO plan in Philippines .From this sector Philippines gain their 10% annual GDP growth and India is also contributed like 2.5% of it’s annual GDP from BPO.In India the current registered BPO companies are around 333 and the top leading BPO companies like Aditya Birla Minacs Worldwide, HindujaGlobal,Exl Solutions Pvt.Ltd,Infosys BPO,Wipro BPO,Aegis Ltd,TCS BPO,Firstsource solutions etc. Who has the invaluable contribution in BPO business for India they provides million’s of vacancies and the pioneer’s are the introducer of the BPO business which is remarks highly on Call Center regarding this zone.The growth rate of BPO sector to Gross Domestic Product has risen from 1.2% to 5.4 %.This industry employees 2.8 million people directly and 0.7 million indirectly till now.The expected growth in BPO industry in 2015 may be 12-15%.ITeS industry is expected to triple from US $ 500 billion today to US $ 1.5 to 1.7 trillion till 2022.BPO is 2nd largest industry & it will provide 61000 new jobs and more (According to http://www.icsiindia.in).
Parallelly Malaysia is one of the unparallel economies in the Asia region. Malaysia is focusing to achieve a per capita GDP of US $1 trillion by 2030 .Indonesia’s GDP is forecast to grow at 5% a year over 2016-2020 via BPO.BPO businesses are not surrounded in the same products. But the most familiar word on BPO which is in our view comes first that is Call Center which biased on Telemarketing. Above all the estimate which is given that all related on telemarketing or the appropriate word is Telemarketing is one of the cores of BPO. The main purpose of BPO is too enduring the product through telemarketing because it is an offshore business.
Other hand BPO business can be the onshore business too. Onshore BPO is cost-effective, hassle-free and timeliness. Best places for all types of products and services.Which has strong professionals and latest business setup. Which can play the role in local markets? Manufacture and endorsing the product in the local market because this is the known pictures for the local so people can trust and keep the product.Like Teamer, Pen drive, Color’s pot, Car, local insurance company etchant thing which you can advertise through the Television you can do that via BPO too.
Last year the international restaurant like Costacochain partner with Pied de Cochonwhich has worldwide renowned business. Via Business Processing Outsourcing functions such as administration, finance and accounting and IT maintenance they are reducing their costs and grow their revenue .This partnership cut the companies administrative expenses substantially.By this BPO factor Costacocould understand their success .In fact the whole sector is starting to view outsourcing a stack of internal functions .
Main BPO techniques are to survey the market, analyze the demand, identify the objectives and problems, make own strategic plan, maintain daily updates on market ,engage with customer with 24/7 available services.
With those main points are the technical bone of BPO, through analysis and lead generation process you can present a valuable and reliable survey data on your table. This can show you where the money is.