ITES / BPO
The Indian ITeS-BPO industry continues to report phenomenal growth. Further, riding on the boom, its contribution to the service sector and eventually to the country's GDP is on the rise. The industry has come a long way, from just offering traditional outsourced data entry work, to providing high end knowledge services to global clients. Its contribution to the total global back office work is around 2 per cent of the global spending on BPO. This represents tremendous growth opportunities for the industry players.
A trend of offshoring IT services to developing countries started way back in 1980s mainly with low end software work. In fact, the Indian ITeS-BPO Industry is growing at a rapid pace and is increasingly consolidating its position as one of the favourite outsourcing destinations in the world.
BPO is a broad term referring to outsourcing in all fields. A BPO differentiates itself by either putting in new technology or applying existing technology in a new way to improve a process.
Business Process Outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that in turn owns administers and manages the selected process based on defined and measurable performance criteria. Business Process Outsourcing (BPO) is one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry.