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Thursday, July 08, 2010

Utilising high BPO prospects

BUSINESS process outsourcing (BPO) is a form of outsourcing that involves the contracting of the operations and responsibilities of a specific business function (or processes) to a third-party service provider. Originally, this was associated with large manufacturing firms particularly some multinationals that outsourced sizeable segments of their supply chain. In the contemporary context, it is primarily used to refer to the outsourcing of services that can be done through the use of Information technology (IT). That's why some people call it as ITES (Information Technology Enabled Services).

International investment consultancy firm Mckinsey forecasted that, by 2010, the global BPO business will amount US$180 billion. India will be in prime position. China, the Philippines, and Malaysia will follow India. If Bangladesh fixes up a target of grabbing 1.0% of the total market share, then it can experience a large boost to its foreign exchange earnings. This sector is very much lucrative compared to other sectors as all the earnings from this service will be retained within the country. more


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