Business Process Outsourcing in Bangladesheicrasoft
The country has the potential to create over 200,000 direct and 50,000 indirect jobs and earn about $5 billion annually through Business Process Outsourcing (BPO) – a way of doing business through a third party. Some 30,000 freelancers in the country are now working through micro sourcing platforms like freelancer, oDesk, e-Lancer and Guru.
This industry could have a great economic impact. Almost 70 per cent of the earnings go away for paying salary alone in the US companies. So they are increasingly becoming interested in BPO deals.
BPO helps increase a company’s flexibility and achieve growth targets avoiding various bottlenecks and ensures cost reduction. Giant companies of developed countries are increasingly making business functions through offshore outsourcing in the developing countries. At present India earns US$ 50 billion and generates two million jobs. Sri Lanka and the Philippines are also doing sizeable business creating big size local employment. This outsourcing business started back in 2008 and it is still in infancy in Bangladesh. The cost of wages is much cheaper in Bangladesh than in many other Asian countries. Average wage is $30 an hour in the European countries while in India and Philippines it is $20 and $15 respectively, which is only $8 in Bangladesh.
Traditionally, Bangladeshi workforce has quick learning ability and is well known for strong abilities in mathematical and logical analysis. Bangladeshi students regularly come out as winners in a number of programming and mathematical competitions globally. Despite having so much potential, the country is still lagging behind due to the lack of a speedy and uninterrupted Internet service and other ICT-related infrastructures. The authorities concerned should take steps to develop world class ICT-relevant IT and communication infrastructures. But as of rule, the business leadership should come from the private sector and the state should be the facilitator only.
Source : Andalib Rahman at Banani, Dhaka