Business Process Outsourcing or BPO, as it is popularly known refers to the industry, is one of the fastest growing industries of the country and worldwide. BPO refers to outsourcing or contracting of certain responsibilities or operations of one business firm to a third party. This third party is referred to as the service provider to the business firm. Thus business process outsourcing is in reality the process of transferring services from one firm to an outside company by replacing the services to be enjoyed from the employees of that firm by those of an outside firm.
Originally, the concept of business process outsourcing was followed in only manufacturing firms around the world. But today, business process outsourcing is seen in the field of human resources, offshore & near shore services and finance & accounting services. Most business processing firms work in collaboration with information technology based firms and that is why the industry is often referred to as ITES – BPO (Information Technology Enabled Service – Business Process Outsourcing).
KPO (Knowledge Process Outsourcing) and LPO (Legal Process Outsourcing) are also segments of the business process outsourcing business in India.
Academic Qualifications for Working in Business Process Outsourcing Firms
The BPO firms do not stress on stringent academic qualifications or educational degrees from applicants. A minimum education of 10+2 is required with adequate working knowledge on computers. Fluency in English is also required if you wish to work in a BPO. Most business process outsourcing units work with clients from the US or the UK and English is the only way you can communicate with them. Confidence and a pleasing personality are added advantages for bagging the job.
Institutes Providing Training in Business Process Outsourcing
The size of the BPO industry in India and elsewhere has increased like no other. In order to ensure the best applicants in the leading BPO firms of the country, several institutes and coaching centers have started operating in different parts of the country to provide practical training to students who wish to pursue a career in business process outsourcing. The chief cities in India from where the maximum numbers of BPOs operate are New Delhi, Mumbai, Kolkata, Chennai, Bangalore, Pune, Hyderabad and Gurgaon.
A few popular centers for business process outsourcing training in India are:
- Webel Technology Limited – Kolkata
- Abode Knowledge Services – Hyderabad
- NIIT Planetworkz – New Delhi
- Fands Infonet – Pune
- Lawkim – Mumbai
- Merittrac – Bangalore
- Accentual – Gurgaon
Career Prospects in Business Process Outsourcing
According to a survey conducted at the beginning of this year, the business process outsourcing industry has generated total revenue of US $10.9 billion in the year 2010. Added to that is the US $30 billion from the IT industry and this figure puts India at the top of the ranking in the world BPO industry. India now has a total of 5 to 6 percent of shares of the BPO industry operating around the world. India has the best and most expansive BPO industry in Asia. Therefore this industry also generates a large number of jobs every year.
Some of the designations that you enjoy in order of your education qualifications and experience in a BPO sector are:
- Processing Executive
- Team Leader
- Senior Analyst
- Assistant Manager
- Deputy Manager
- Senior Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Vice President
Business Process Outsourcing jobs usually pay big. The salary package usually depends upon your shift timings, your academic qualifications and your total experience. The salary increases frequently and incentives are an integral part based on your performance.
The salaries of a beginner or a trainee will start from 15,000 per month and will henceforth go up to 1 lakh per month with the progress in designation. You can also choose to work extra shifts and earn incentives. The BPO industry also offers several benefits in the form of medical and transport benefits, traveling allowances and legal transcriptions. Growth in this sector is also very fast, thus the ability to earn the extra bucks is also possible in a very short time of your career.
Best BPOs in India
The National Association of Software and Services Companies (NASSCOM) lists TCS BPO, Wipro BPO, Genpact, Aegis Limited and WNS Global Services as the leading business process outsourcing firms in the year 2009 – 2010.