Technology is getting advanced with the changing times thereby, inclining more businesses towards information technology and business process outsourcing. Despite, the slow recovery of the global economy, these industries are on a high. The recession that hit the floor a couple of years ago, has greatly affected most industries other than that of the BPO and the IT. The sudden economic downfall caused most of the businesses to reduce their operational costs, as a result of which they narrowed down their level of recruitment. They began to get their work done by the call center employees instead of hiring employees for their organization. The call center services turned out to be very cost-effective to them.
This is how the demand for BPO solutions began to increase, and gradually reached to the current status. The revenues generated from the exports of the global call center industry, have amounted to about fifty billion dollar in the present year i.e. 2010. The United States rules the markets that are in need of BPO exports, thereby, bringing in the highest profit to the call center industry. Recent studies suggest that the export revenues are about to grow by thirteen to fifteen percent, thereby reaching an amount of fifty seven billion dollars.
The annual performance report of NASSCOM, has indicated that the domestic BPO market is about to grow by twelve percent and hit a revenue collection of sixty six thousand and two hundred core rupees. In the next year, the growth will increase by fifteen to seventeen percent, thereby amounting to 76,100 – 77,500 crore rupees. Another report on the industry suggests that, the call center job vacancies, both direct and indirect, will exceed 23 and 82 lakhs respectively. The industry is expanding at a rapid pace in the tier II towns and cities, with a sizeable population entering into the call center firms.
The initiation of remote call center has contributed to the revenue generation of the BPO firms. The flexibility of working from home has caused many people to join the call center agencies, thereby, equipping them with abundant human resources. The availability of cheap and skilled labor is motivating the industry in serving more powerful and competent clients. Consequently, the outsourcing firms are experiencing a rapid increase in the generation of their revenues. The call center agencies are catering to a multiple industrial sectors, many of which entrust them with highly complicated tasks. But no matter how complex an operation might be, the call center executives solve them magically.
The market of both the domestic and global BPO industries is experiencing rapid growth in terms of their export revenues. They are constantly re-inventing themselves by enhancing their utilization rates and cost effectiveness. They are formulating new business models that will help in improving their profit margins in the long run. The call center agencies have made great contributions in recuperating the business from the economic slowdown. In the days to come, it is expected that the industry will experience significant growth in its business sales.
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