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As of 2021, revenue of Indian BPO industry was estimated at US$ 38 billion. [2] Government of India has launched India BPO Promotion Scheme (IBPS) as part of Digital India initiative to encourage job creation in Tier-2 and Tier-3 cities. [3] [4] India's BPO Industry handles 56% of the world's business process outsourcing.
The BPO industry in the Philippines generated $26.7 billion in revenues in 2020, [212] while around 700 thousand medium and high skill jobs would be created by 2022. [ 213 ] In 2015, official statistics put the size of the total outsourcing industry in China, including not only the BPO industry but also IT outsourcing services, at $130.9 billion.
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
Banking business process outsourcing or banking BPO is a highly specialized sourcing strategy employed by banks and lending institutions to facilitate the business acquisition and account servicing activities linked with the customer lending lifecycle.
Sykes Enterprises, Inc. (stylized as SYKES) was an American multinational business process outsourcing provider headquartered in Tampa, Florida.The company provided business process outsourcing (BPO) services, IT consulting, and IT-enabled services, such as technical support and customer service.
Airline and hospitality BPO: India $5.1m 400 [54] [55] Aviation Software Development Consultancy India (ASDC) March 2004 IT services India $3.1m 180 Phoenix Global Solutions May 2004 Insurance consulting and BPO India $130m 400 [56] [57] Swedish Indian IT Resources AB (SITAR) May 2005 IT services Sweden $4.8m n/a [58] [59] Pearl Group: October 2005
The U.S. Department of Defense will consider granting honorable discharges to more than 30,000 gay and bisexual veterans who were barred from serving in the military because of their sexual ...
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. Marsh BPO will be absorbed in McCamish Systems. [12] [13]