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As of 2012, around 2.8 million people work in outsourcing sector. [1] Annual revenues are around $11 billion, [1] around 1% of GDP. Around 2.5 million people graduate in India every year. Wages are rising by 10–15 percent as a result of skill shortage. [1] As of 2021, revenue of Indian BPO industry was estimated at US$ 38 billion. [2]
India, China and the Philippines are major powerhouses in the industry. In 2017, in India the BPO industry generated US$30 billion in revenue according to the National Industry Association. [33] The BPO industry is a small segment of the total outsourcing industry in India. The BPO industry workforce in India is expected to shrink by 14% in 2021.
It is expected that all 1,400 employees will transfer with the business. [11] In September 2012, Infosys BPM acquired US-based Marsh BPO for an undisclosed amount to expand its group life insurance activities. Marsh BPO, based in Des Moines, Iowa, has 87 employees and serves seven insurers and covers more than 600,000 insured lives.
The information technology (I.T.) industry in India comprises information technology services and business process outsourcing. [1] The share of the IT-BPM sector in the GDP of India is 7.4% in FY 2022. [2] [3] The IT and BPM industries' revenue is estimated at US$ 245 billion in FY 2023.
The BPO outsourcing contract for managing software application and computer networks for Airtel is now estimated to be worth over $2.5 billion. [7] The two present good examples of on-demand outsourcing. Both business organizations benefited by acquiring the necessary equipment and labour from the partner company.
NASSCOM's membership includes organizations engaged in software development, software services, and IT-enabled or BPO services. The organization's core focus has been on ensuring high service quality standards and upholding intellectual property rights within the Indian software and BPO industries.
Image source: The Motley Fool. Telefonaktiebolaget Lm Ericsson (publ) (NASDAQ: ERIC) Q4 2024 Earnings Call Jan 24, 2025, 3:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers
We also found that BPO also breaks into three elements: Process Management and Measurement – measures that include aspects of the process like output quality, cycle time, process cost and variability compared to the traditional accounting measures. Process Jobs – "product development process owner" rather than "research manager".