The boom of business process outsourcing actually started in the 1990’s when the rules were bent which led the way to access foreign software and hardware.
When outsourcing did begin?
In the mid 1990’s GE first started an outsourcing venture located in Gurgaon. Thereafter other well-known companies like American Express and British Airways started doing outsourcing business which was followed by a pool of other companies.
The progress in technological fields led to the emergence of outsourcing demand. India is the biggest diverse country which has the right attributes to excel in the field of outsourcing. Thanks to globalization, a number of countries were then able to utilize their strengths, and mostly the developing countries got a chance to get their work done at minimum cost which was a great profitable business solution for them.
The Indian government finally realized the potential of fruitful economic boost, started easing the rules and regulations so that the Indian companies could start outsourcing in India without facing much trouble. With the government aid and high number of investors the business process outsourcing saw a massive growth.
Why India became an outsourcing hub?
The IT and BPO sector plays a crucial role in boosting up India’s economy. With the strength of proficient worker and high quality work at affordable prices, it is able to attract huge outsourcing clients from foreign investors. As per NASSCOM, “While India’s low-cost talent pool has helped its businesses grow, global incumbents have also recognized India’s inherent advantage and have mastered this capability by offshoring more work out of India.”
Huge manpower-India alone consist of one billion people, and amongst them at least 1 or 2 million people are associated with the BPO industry. As the BPO sector doesn’t really need much of academic attainments in the initial stage, students, mostly after college are joining BPO for fast growth and earning a fat pay packet every month. Quality service- Indian workforce is given professional training and hence the quality of work they produce are quite perfect. Most of the foreign companies are pouring in their capital on outsourcing from India as BPO companies in India deliver quality work with utmost perfection which is required. Because in other words it is IT enabled services. 24X7 service- Indian BPO also provide 24 hours support. Rotational shifts and abundant work force make it possible to change shifts and provide assistance in different hours of a day. Low wages- The main reason why India has become the hub of outsourcing is because of the low wages. India offers a competitive rate than the other countries, hence it has become a more favorable outsourcing cialisfrance24.comdestination for most of the international companies.