BPO TRAINING INSTITUTES IN KERALA

 If you don’t know what BPO stands for, it’s Business Process Outsourcing. If you do know what it stands for, you probably still have questions about how it’s different from a call center, and how they can be used together to create the best business process possible. To answer these questions, we need to look at what makes each of these entities different and how they can be combined to create the best business processes possible. Let’s start with the basics: What does BPO stand for?

Overview

Call centers are usually large-scale operations that provide sales and customer support services for companies. But there’s another type of business process outsourcing (BPO) service that may be more suitable for small businesses. Let’s find out more about what it means to outsource your business processes, how much your company can save, and whether or not you qualify.

The market – Trends and size

The worldwide outsourcing market, which includes business process outsourcing (BPO), call centers, back-office processing and IT services, is estimated to grow at more than 10 percent annually through 2014. By then, according to Forrester Research, a market research firm based in Cambridge, Mass., global revenues will top $370 billion. The U.S.

Historical overview

As service-oriented industries began to expand, so did the demand for business process outsourcing. At its core, business process outsourcing (BPO) refers to outsourcing a company’s non-core business processes to another company. Companies are able to focus on their core activities while enabling other companies, also known as service providers or process providers, to carry out these non-core functions. The entire industry is referred to as BPO.

Key characteristics

The benefits of outsourcing your business processes to a third-party company are clear, but often companies struggle to find qualified vendors to manage their non-core processes. However, knowing what makes Business Process Outsourcing (BPO) services unique can be confusing. Let’s take a look at what distinguishes outsourced business process management (BPM) services from general call centers.

What do you need to start?

Setting up your own business is easier than you might think. But before you take that first leap into entrepreneurship, take some time to identify what you’ll need to get started. From office space to computers, start-up costs vary-and sometimes range into six figures. Here are several things to keep in mind before you head down that entrepreneurial path

How does one get into this industry?

There are two main approaches you can take to get into an industry like business process outsourcing (BPO). The first is to build your own company. The second option is to get in as an employee at one of these companies, starting at ground level. Both paths have their advantages and disadvantages, so let’s start with what going solo entails.

HISTORY

Amex

In the second half of the 1980s, American Express consolidated its JAPAC (Japan and Asia Pacific) back office operations into Gurgaon region. This centre (called the Financial Resource Centre East or FRC-E)was headed by an Expat Harry Robertson, a veteran American Express employee with Raman Roy reporting to him, Raman Roy later on quit Amex to join GE and later on started his own enterprise called Spectramind which got later on merged with Wipro and then later on started Quatrro BPO.

 

General Electric

In the 1990s Jack Welch was influenced by K.P. Singh, (a Delhi-based realtor) to look at Gurgaon in the NCR region as a base for back office operations. Pramod Bhasin, the India head of G.E. hired Raman Roy and several of his management from American Express to start this enterprise called GECIS (GE Capital International Services). Raman for the first time tried out voice operations out of India. The operations in India were the Beta site for the GE Six sigma enterprise, as well. The results made GE ramp up their Indian presence and look at other locations.

In 2004 GECIS was spun off as a separate legal entity by GE, called Genpact. GE has retained a 40% stake and sold a 60% stake for $500 million to two equity companies, Oak Hill Capital Partners and General Atlantic Partners.

Until G.E. most of the work was being done by "captives"- a term used for in house work being done for the parent organisation. In 2000 Raman Roy and some team members from GECIS quit, and with VC funding from Chrysalis Capital, started Spectramind. At the same time, an organisation called Efunds started in Mumbai and Gurgaon, vCustomer in New Delhi and Daksh in Gurgaon. One of the current big BPO firms, EXL Services, started in April 1999, and in 2012 hit $442.9 million in revenues.Third party BPOs

However, recently, most of the Indian BPOs, even smaller and mid-sized ones, are setting up their onshore presence in the markets they serve. Most of the large players are improving the outsourced business processes by leveraging on their years of experience, and now some are offering more than just plain vanilla BPO processes. KPO, transformation and Consulting opportunities are gaining favour among large third party BPO providers like Genpact, Infosys BPM, WNS and EXL Services.