BPO market to hit $682.5 bn in ’08

It also contains information about the key growth areas and opportunities to expect in each BPO market for 2004 and beyond.

IDC’s research points to a BPO market that is exciting, brimming with opportunities, and yet, complex and challenging. “There is a definite surge in interest for BPO in today’s economic climate,” said Romala Ravi, programme manager, BPO services.

“At the same time, companies’ expectations and demands of business process outsourcing providers have escalated, and the lens through which BPO engagements are being evaluated has become much more sharply focused. Though the rewards are potentially substantial, the path to success in the BPO market will be fraught with challenges, necessitating focus and long-term commitment on the part of bpo providers,” Ravi said.

The BPO market is really made up of many individual markets, each with its own nuances, unique opportunities and challenges. For the service providers, who are looking to play in bpo, there is no fast track or silver bullet to this market, and focus is critical, the IDC report says.

Making a play as a bpo provider entails risks and takes time, resources, and patience, it says. — (PTI)