BPM industry sets a goal of $50 bn in revenues by 2020
The Indian BPM industry has grown leaps and bounds in the last decade. The value proposition of the industry has moved to value beyond cost and today the industry is providing end to end, business transformation and platform-based solutions. The industry has adopted a truly global delivery model and has grown in strength to strength not only in voice processes but also in analytics -based solution, supply chain management and proving business transformation services.
The BPM industry has set a vision of delivering $50 billion in revenues by 2020, says National Association of Software and Services Companies (Nasscom). Interestingly, the total IT exports from India in 2009 was $50 billion and within a span of one decade, the BPM Industry has matured to assume a prominent role in the total growth of IT Industry in the country.
As yet another step towards achieving the industry vision, Nasscom announced the launch of the Business Process Management Council and Keshav Murugesh, Group CEO, WNS Global Services was appointed as the chairman.
The BPM Council envisions re-branding of the entire industry to connote the true value and impactful business outcomes it delivers for global clientele. It will work towards enabling India to lead as a preferred global BPM destination.
India is already the hub for various vertical domains including customer interaction services, F&A practice, risk and procurement analytics, healthcare analytics and predictive analytics. The country houses over 200 shared services companies that provide cutting-edge solutions. Many of the global corporations are now leveraging the India centres to manage the end-to-end customer process and manage the customer experience.
At the launch, the NASSCOM BPM Council highlighted that the immediate key focus area would be to boost the current BPM landscape and position India as a global and competitive BPM destination. The BPM Council will build a foundation around three core areas that will lay emphasis on strengthening the current BPM ecosystem, build centres of excellence and position India as a preferred destination for BPM services and solutions.
“In the past year, the BPM Council undertook several initiatives, among which, re-branding the industry was the most notable highlights. As we move forward, Nasscom is confident that the BPM Council along with a large number of industry leaders and Keshav at the helm will drive more such initiatives and bring success to the industry. We have also got a team of experiential entrepreneurs who along with Keshav are committed towards building a $45-50 Billion BPM industry by 2020,” says Som Mittal, President, NASSCOM.
“The BPM industry has the potential to become one of the best career choices for youngsters in India and the world. The world needs to know of the transformation that has occurred within the industry and recognize the far-reaching effects it has had on our country and other global economies,” says Murgugesh.
As per the Nasscom–Mckinsey Perspectives 2020 report, the Indian BPM market is expected to reach $50 billion by 2020, driven by an increase in global consumer spends. India has been a frontrunner in the outsourcing industry. What started out as the BPO industry—delivering simple, mostly voice-based processes to global businesses is today a far more mature and sophisticated industry that delivers high-end solutions for managing key aspects of businesses. Transformation in the kind of services and value delivered to global clients today are powered by a number of factors such as higher emphasis on developing domain expertise, availability of highly skilled talent and enhanced use of cloud and mobility technologies. According to the present landscape, the total BPM Export from India is $18 billion. BPM growth has been driven by several factors—the primary ones being accelerated deployment of the platform-based delivery models and building capabilities to deliver business transformation services.
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