Understand Potential Market With Bpo Services

Business Process Outsourcing or BPO has become the latest buzz

. It is rapidly healing the Indian economy from the scars created due to the global economic recession. With the recoverys slower rate, software companies are coming up with innovative means to increase their revenues. The latest statistics illustrate the bright picture of Indian BPO industry, which has been growing in leaps and bounds at the rate of 70% per year. In fact, the BPO enterprise is estimated to be a whopping $600 billion industry employing over 100,000 people, as per Mckinseys report. The industry is gradually strengthening its grip on the Indian markets, making it thus, a perfect lucrative destination for outsourcing.

With Indians quite fluent in the Queens English, the country has turned into a major outsourcing hub. Several foreign airlines and banks have too set up their business process operations in Indiaall happening simply because of the following reasons:

Cost factor advantage

Economy of scale

Business risk mitigation

Superior Competency

Utilization Improvement

The BPO industry caters to a broad range of services, eventually helping companies of varied stature focus on their core business apart from minimizing costs. The BPO services range from making sales calls, managing client enquiries like mortgage loans, to follow ups on credit card collections etc.all these are effectively executed which in turn reduces the manpower and training.

BPOs are usually sub-divided into two categories: Technology and Business Process. Further, they are also referred as Back Office Outsourcing and Front Office Outsourcing respectively. As far as back office outsourcing is concerned, it comprises of internal business functions like billing or purchasing. On the other hand, front office outsourcing lists customer related services as marketing and technical support.

Nowadays, reputed clients worldwide are accessing innumerable BPO services merely for their fast, reliable and accurate characteristics.

Some of the known BPO services feature the following:

Data Entry Analysis: Acquiring data from multiple sources and databases, and to produce a final report with necessary information.

Customer Support Services: Resolves all customer related queries via email, phone or chat.

Technical Support Services: Offers round-the-clock assistance and handy solutions for to a clients varied technical requirements, which includes computer hardware, software, peripherals and Internet infrastructure manufacturing companies. These furthermore include installation and product support, up & running support, troubleshooting and Usage support.

Telemarketing Services: Also known as outbound calling attempt, this determines potential customers where it help generates interest in products and services or cross selling.

Insurance Processing: Provides specialized solution to the insurance sector and support critical business processes applicable to the industry which varies from new business acquisition to policy maintenance to claims processing.

by: Sunil Kumar

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