Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
AI will erase outsourcing jobs, redefine skills and disrupt global giants within five years, predicts Vinod Khosla. The IT legend urges young people to become generalists: Adaptable thinkers who can learn quickly, connect dots across disciplines and shift careers as technologies evolve.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
India is the world's favoured market for BPO companies.
The Nasscom Governance and Ethics Committe on Tuesday released its recommendations aimed at further strengthening corporate governance practices in the Indian IT-BPO industry.
The booming ITES-BPO industry, faced with shortage of talent and high attrition, is trying to now attract under graduates.
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
'Because the same stupid questions are repeated year after year when an exam should provoke the students to think and not ask repetitive questions.' 'So, what do coaching institutes do? They teach students to memorise these questions and answers without understanding the subject.'
The Indian business process outsourcing (BPO) industry gave a thumbs-down to the US Call Centre and Consumer Protection Bill, terming it another "protectionist" measure by the country.
First step in reshaping the BPO sector's image is to focus on BPO professionals' needs.
Software body Nasscom expressed its disappointment over the budget as it has no fresh proposals for the USD 100 billion Indian IT-BPO sector even as the industry's request to exempt SEZ income from Minimum Alternative Tax has been ignored.
Here's what you need to know about the industry to chart a successful long-term career.
The industry is set for rapid growth with a large number of companies in India and from abroad seeking to outsource their hiring-related jobs to third-party vendors here in order to save costs as well as time.
Careers360 speaks to a few industry leaders about what it take to make it big in the BPO, LPO, KPO field.
Nasha Fitter answers questions on the BPO industry.
Buoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to grow 19 per cent in 2010-11 to $76 billion in revenues, software industry body Nasscom said.
To cement India's position as a preferred global outsourcing destination, the government on Wednesday liberalised guidelines for voice-based BPOs removing the distinction between domestic and international units as well as permitting interconnectivity between all types of OSP centres. Broadly, the rules would allow global companies, say an airline, with a voice-based centre in India to now serve global and domestic customers with common telecom resources, something that required dedicated, separate infrastructure previously. Moreover, the restrictions on data interconnectivity between any BPO (business process outsourcing) centre of the same company, a group company or any unrelated company has been done away with, allowing for massive flexibility in resource management for BPO operations.
The new rules are aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world.
Nasscom announced on Tuesday that it will soon introduce a `best practices' policy framework to streamline and standardise processes in the information technology-related services and business process outsourcing (ITeS-BPO) industry.
IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and that the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The statement comes in the backdrop of a report by Bank of America that said domestic software firms are set to slash 3 million jobs by 2022 as automation gains pace across industries, especially in the tech space. "With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. "The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
The biggest challenge facing the BPO industry today is addressing the data security and privacy governance of their clients, but most Indian companies have already embraced the processes required to deliver secure outsourcing services, according to a survey.
Nasscom, the information technology and BPO industry body, on Monday favoured a flexible work atmosphere for women engaged in raising their family to curb dropout rates and boost their numbers in mid-level and senior management positions in companies.
According to the author, the rationale behind job-switching is that a year or so at the mid-managerial level in some large BPO is supposed to be a ticket to the senior management level somewhere else in the industry.
The National Association of Software and Services Companies, the apex body of the IT-BPO industry in India, on Wednesday expressed shock at the disclosures made by Satyam Computer Services chairman B Ramalinga Raju.
WCH Training Solutions is organising a 10-day workshop on "Voice & Accent Training Skills" for professionals in the BPO industry.
Nasscom, the premier trade body of the Indian IT-BPO industry, on Wednesday said the aggregate revenues of the sector are expected to reach $60 billion by FY09.
"While $30 billion is the achievable target, 50 billion is the aspirational target", Nasscom President Som Mittal said on Tuesday while releasing the findings of a study on India's BPO industry conducted jointly with the Everest Group, a global strategy consulting group.
Even in the face of the ongoing US meltdown (see end of article for more details) the BPO industry provides some of the most lucrative job opportunities on the market today.
Accenture, one of the leaders in global management consulting, technology services and outsourcing company, on Wednesday launched a training academy, in collaboration with Xavier Labour Relations Institute, Jamshedpur.
From being seen as a fun place to work, BPOs are working hard to ensure stable career paths for their young employees.
Predicting that the Indian IT industry was likely to add two lakh employees this year, Nasscom president Kiran Karnik on Tuesday said the association was working on the image of BPO industry and would create a data base of people in the industry.
The software body, which represents the $100 billion Indian IT-BPO industry, has also appointed MindTree CEO Krishnakumar Natarajan as the vice chairman of the executive council.
A candidate with good communication skills, critical thinking and problem solving abilities will have a higher chance of being hired.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
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