Business process outsourcingis a common practice in several sectors. It has resulted in businesses taking the advantage of the expertise of the third party along with cutting various operational expenses. Business process outsourcing is a new of doing business where businesses entrust some of the business operations with a third party who is better in handling these operations and allows the business to focus on other core areas of business that require their immediate attention. Many MNCs outsource their work to a different country that can provide the required service at a much low cost. This is an effective way for these MNCs to grow and expand their operations in several locations.
Among various countries, India is the most preferred location for various businesses. It is the biggest market for outsourcing sought by many well-known and reputed brands. By outsourcing to India, many businesses have significant improvement in their service. The earlier reduced cost was the sole reason for many businesses to opt for India for the outsourcing of business operations but slowly and steadily many businesses realized the abundance of talent in India which can help their businesses to rise to big heights.
There has been intense competition among many countries for the spot of outsourcing hub but India has been able to maintain its position in the top 3 countries for the last many years. This shows the importance of India in the outsourcing market and thus it is expected that there is nothing that is going to change India’s standing in this industry. India has been able to offer to a large number of English-speaking skilled workforce and that too at much low cost which no other country can match. India indeed is leading various businesses towards growth and development. The most common outsourced services in India include:
- One area of business where no country has standing with India is the IT sector. This is the number one attraction of many businesses in India. This sector is the fastest-growing sector all around the globe and thus shows why the Indian outsourcing market is expanding at such a fast pace. In fact, around 75 percent of the world’s digital talent lives in India. Today every business needs IT to help to sustain its business operations and such help is provided By India through an immense talent workforce. IT is needed by the business for many purposes; some of the essential areas of work include Technical Support, Website, and App development, and software development. This work required the right and skilled employees along with quality infrastructure with the right equipment that India is known to have expertise in. The quality of service provided by Indian companies in this area is remarkable as they are in this line of work for many decades.
- The other important area of outsourcing in India is KPO (Knowledge Processing Outsourcing). It deals with information-related business work. Under this, the essential work includes R&D, Data Analysis and Interpretation, and Financial research. These are high-performing tasks that cannot be done until and unless there are complete clarity and understanding of the nature of business. These tasks must be left in the hands of experts who know how to work with a large volume of data effectively and efficiently. Hence it is wise to outsource this area of work to specialist such as India who has the required advanced knowledge for dealing in such type of stuff.
- Back-office support is integral for all types of business, especially in social media time. Social media presence everywhere makes this work more important as you need to provide your customers with secure and safe platforms. There are various back-office supports that businesses look to outsource to India. These include content moderation, document verification, and fraud detection and protection. These processes do not remain constant as they change with any new technological change and hence it is not manageable for businesses to undertake these services. So it essential to leave such tasks to experts such as India.
- Customer service is crucial for any business as it is what can make or break any company. Without adequate customer care service, no business has a chance of surviving in the long run. But it is the daunting task of taking care of customer needs. To counter this issue, it is recommended to outsource these services to the right company which can handles all the customer’s need on time thus helping the business in building a strong customer base. The outsourcing to a third party will lead to uninterrupted customer care 24×7. Thus it is the best way of maximizing customer satisfaction.
These are the important areas where India is chosen as an outsourcing destination by many businesses all around the globe. India is an attractive location for providing these services. The various advantages of choosing India as an outsourcing hub over any other country are mentioned as below:
- Infrastructure: India has the entire required infrastructure when it comes to IT, telecom services, etc. The places like Bangalore, Gurgaon, etc. are known for advanced and innovative infrastructure. Also, the cellular networks are properly developed in India which allows for easy and smooth communication that is integral for all businesses.
- Government Policies: India’s government is taking several measures so that there is the ease of doing business in India. They are implementing various policies and strategies that help in strengthening the IT system and infrastructure in India. Also, various tax relaxations are provided thus encouraging businesses around the globe to outsource their business operations to India.
- Talent: India is known to have the finest talent pool of employees which can benefit various types of businesses. Each year this pool of talent is enhanced with fresh graduates. Thus India provides an unlimited supply of talented workforce through its business process outsourcing companies.
- Language: India is known to have proficiency in English which makes it easier for many businesses to work with India. As the language barrier is not there, this leads to the smooth flow of communication leading India as an attractive destination for many businesses.
These are advantages that India offers as an outsourcing hub. Hence this shows why India is gaining importance in the industry of outsourcing.
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