Business experts confirm that Business-process outsourcing is getting redefined and will expand rapidly over the next five to seven years outpacing growth in technology services. These days’ companies are looking to outsource a wide range of services including human resources and accounting. In order to meet this demand, outsourcing companies are rushing to build up their expertise. Several companies have taken the acquisition route while others are opting to develop these services internally, says one of the veterans.
Talking about the recession, experts believe that the global economic meltdown largely depend on customer’s economic cycle. Some of the clients have been severely affected by the economy while there are hopes that they will recover very soon. Outsourcing volumes will increase gradually as customers come out of the downturn in the economic cycle. However, on the other hand, looking at the business in totality shows that the business has not shrunk, they opine. Companies continue to look forward in outsourcing services in industries like banking, financial services and insurance sectors. Also technology, telecom and manufacturing have their share in the bread as well. In addition, clients are interested in focusing on their very core businesses and they seek specialised providers. Most of the Indian BPO companies focus on existing sectors and later on expanding to adjacent areas.
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