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Sample essay topic, essay writing: Environment Analysis Of The Bpo Industry In India - 2474 words
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.. ce, there are 22 processes in HR and 33 processes in finance and accounting. Comprehensive BPO prefers global deals, which are typically 7-10 years in length, and are generally over $100 million a year. These providers will buy client assets and will take on hundreds and sometimes thousands of client staff. Comprehensive providers strive to make interrelated processes more effective, so they aim to reduce the total cost of a function by introducing best practices - such as requiring direct deposit of payroll or increasing the HR-to-employee ratio from 1:50 to 1:300.
They are accountable for cost savings as well as outcomes for an entire function, so clients pay for outcomes, not inputs. Comprehensive providers shoulder 70 percent of the operational risk of the in-scope processes because they are responsible for the information technology, transactions, and administrative elements of those processes. Furthermore, they invest significant amounts of capital in the relationship, and they absorb most client personnel. The risk to clients is that comprehensive BPO is new - it's only been around for two-three years - so providers are less mature, their processes less proven, and most have very few reference-able accounts.Different Types of Services Being Offered By BPO's1. Customer Support Services Our customer service offerings create a virtual customer service center to manage customer concerns and queries through multiple channels including voice, e-mail and chat on a 24/7 and 365 days basis. Service Example: Customers calling to check on their order status, customers calling to check for information on products and services, customers calling to verify their account status, customers calling to check their reservation status etc
2. Technical Support Services Our technical support offerings include round-the-clock technical support and problem resolution for OEM customers and computer hardware, software, peripherals and Internet infrastructure manufacturing companies. These include installation and product support, up & running support, troubleshooting and Usage support. Service Example: Customers calling to resolve a problem with their home PC, customers calling to understand how to dial up to their ISP, customers calling with a problem with their software or hardware. 3.
Telemarketing Services Our telesales and telemarketing outsourcing services target interaction with potential customers for 'prospecting' like either for generating interest in products and services, or to up-sell / promote and cross sell to an existing customer base or to complete the sales process online. Service Example: Outbound calling to sell wireless services for a telecom provider, outbound calling to retail households to sell leisure holidays, outbound calling to existing customers to sell a new rate card for a mobile service provider or outbound calling to sell credit or debit cards etc. 4. Employee IT Help-desk Services Our employee IT help-desk services provide technical problem resolution and support for corporate employees. Service Example: of this service include level 1 and 2 multi-channel support across a wide range of shrink wrapped and LOB applications, system problem resolutions related to desktop, notebooks, OS, connectivity etc., office productivity tools support including browsers and mail, new service requests, IT operational issues, product usage queries, routing specific requests to designated contacts and remote diagnostics etc.
5. Insurance Processing Our insurance processing services provide specialized solutions to the insurance sector and support critical business processes applicable to the industry right from new business acquisition to policy maintenance to claims processing. Service Example: New Business / Promotion: Inbound/outbound sales, Initial Setup, Case Management, Underwriting, Risk assessment, Policy issuance etc. Policy Maintenance / Management: Record Changes like Name, Beneficiary, Nominee, Address; Collateral verification, Surrender Audits Accounts Receivable, Accounting, Claim Overpayment, Customer care service via voice/email etc. 6. Data Entry Services / Data Processing Services Service Example: o Data entry from Paper/Books with highest accuracy and fast turn around time (TAT) o Data entry from Image file in any format o Business Transaction Data entry like sales / purchase / payroll.
o Data entry of E-Books / Electronic Books o Data Entry: Yellow Pages / White Pages Keying o Data Entry and compilation from Web site o Data Capture / Collection o Business Card Data Entry into any Format o Data Entry from hardcopy/Printed Material into text or required format o Data Entry into Software Program and application o Receipt and Bill Data Entry o Catalog Data Entry. o Data Entry for Mailing List/Mailing Label. o Manu scripting typing in to word o Taped Transcription in to word. o Copy, Paste, Editing, Sorting, Indexing Data into required format etc.7. Data Conversion Services Service Example: o Conversion of data across various databases on different platforms o Data Conversion via Input / Output for various media.
o Data Conversion for databases, word processors, spreadsheets, and many other standard and custom-made software packages as per requirement. o Conversion from Page maker to PDF format. o Conversion from Ms-Word to HTML format o Conversion from Text to Word Perfect. o Conversion from Text to Word to HTML and Acrobat o Convert Raw Data into required MS Office formats. o Text to PDF and PDF to Word / Text / Doc o Data Compilation in PDF from Several Sources.
o E-Book Conversion etc. 8. Scanning, OCR with Editing & Indexing Services Service Example: o High speed Image-Scanning and Data capture services o High speed large volume scanning o OCR Data From Scanned page / image o Scan & OCR paper Book in to CD. o ADOBE PDF Conversion Services. o Conversion from paper or e-file to various formats9.
Book Keeping and Accounting Services Service Example: o General Ledger o Accounts Receivables and Accounts Payable o Financial Statements o Bank Reconciliation o Assets / Equipment Ledgers etc. 10. Form Processing Services: Service Example: o Insurance claim form o Medical Form / Medical billing o Online Form Processing o Payroll Processing etc. 11. Internet / Online / Web Research Service Example:o Internet Search, Product Research, Market Research, Survey, Analysis. o Web and Mailing list research etc. Pros & cons of outsourcingThird Party Service Providers (TPSPs) o Usually TPSP already has expertise and experience with other clients in similar business lines.
o Very competitive pricing / flexibility to assess various TPSPs o No infrastructural / capital investment. o Payback period very less (usually between 6 months to a year). o Flexibility to source multiple TPSPs. o Flexibility to scale up and down business relationship. o Can exit from one relationship and move to another.
o Retains decision-making, therefore relationship with TPSP is clear (fee-based, quality-based); no staff backlash. o As TPSP works towards a profit there is more business commitment. o Customized solutions ensure data security and safety.Advantages o Focus on core business issues. o Benefit from best-of-breed solutions. o Better quality at lower costs.
o Better process maturity, resource flexibility and economies of scale. o Flexibility in deploying new technology. o Quick wins with outsourcing.Disadvantages o Burden of excess capacity or challenge of insufficient capacity is done away with. o High unit personnel cost. o Tight business margins.
o Not enough financial muscle to sustain very tight payback periods.Captive centers o Build expertise from scratch by redeploying resources. Latter option more expensive. o Unit costs higher. o High capital investment. o Payback usually between 3 and 5 years.
o Committed to bringing in economies of scale, hence the need to establish a sufficiently large center. o Committed resources reduces such flexibility, else training costs could shoot through the roof. o No exit possible without incurring high costs. o May or may not retain decision-making. Possibility of backlash from senior management personnel.
o Captive units are usually cost centers. o Long-term strategy looks for establishing centers to first move work as-is, and save costs first.Advantages o Securing data is less complicated. o Capture margins that would otherwise go a TPSP. o Decision making authority contained within the organization. o Tighter management controlDisadvantages o Expensive specialist skill in host countries.
o Compliance and legal restrictions. o Unavailability of skilled manpower due to market stagnation. o Requires considerable effort in terms of management's time and attention to establishComparing India with other BPO Destinations (Why India?)The abundant skilled manpower has made India a target destination for multinationals to back end their operations in India. India ranks high in areas such as qualifications, capabilities, quality of work, linguistic capabilities and work ethics, and thus is ahead of competitors such as China, Philippines, Ireland, Australia, and Canada etc. Indian companies have unique capabilities and systems to set, measure and monitor quality targets. In specific BPO categories, Indian centers have achieved higher productivity levels-for example, the number of transactions per hour for back office processing, than their Western counterparts.
Also, India is able to offer a 24x7 service and reduction in turnaround times by leveraging time zone differences. India's unique geographic positioning makes this possible. Many state governments in India are offering incentives and infrastructure to set up IT enabled services. About 100,000 engineers graduate from India every year. Many of these engineers are employed with call centers for troubleshooting and providing technical support at salaries that are dramatically lower compared to the pay scales in the US. The average monthly salary in India is $400-700 compared to $2,700-2,800 in the US.BPO India China Russia Canada IrelandGovernment Support H L L M HLabor Pool H L L M LInfrastructure M M L H HEducational System H H H H HCost Advantage H H H M LQuality H L L H HCultural Compatibility M L L H HTime/distance Advantage H H M L LEnglish Proficiency H L L H HH = High M = Medium L = Low Source: neoITAdvantage India.1 Feature: Maximize companies' return of investment.
Choosing India would reduce the software development costs, which will drop to less than $7 per hour per employee.Benefit: The company will be able to spend savings on obtaining clients and growing your business.2 Feature: No start up costs, additional fees or taxes. The monthly fee is everything the company will be paying.Benefit: When hiring from US companies would erase all recruitment costs and other costs involved when setting up new offices.3 Feature: The hard-working IT professionals and coaching managers will make sure that the companies visions come true.Benefit: Outsourcing work would let the company relax as the BPO's help the companies business grow.4 Feature: Flexibility.Benefit: As IT outsourcing needs change the BPO change with the company.5 Feature: BPOs are fast. They have an extensive database of competent candidates, which they query when there is an inquiry from the company.Benefit: BPOs can employ a person with a matching profile within days. 6 Feature: There are no 'minimum number of months'-contracts in most BPOsBenefit: Some BPOs state that the MNC can simply stop paying when they no longer need the services.7 Feature: BPOs services are suitable for both one-man operations and big companies.Benefit: The BPO will stand by as the outsourcing company grows.8 Feature: The company can always reach the on-site managers via phone, email or messenger.Benefit: Communicating with the BPO is easy!9 Feature: BPO adjust to the companies needs.Benefit: The BPOs dedicated employee works according to the company's schedule. There are no extra fees for night shifts.10 Feature: Stability and trustworthiness.
Most BPOs are a profitable and debt free company and are in this business for the long run.Benefit: The BPOs respect the company's projects and want to see they succeed. Most BPOs will never say yes to an assignment just to get the money. The companies can be confident that the BPO will deliver what they promise.Indian Market size estimates of BPOO Nasscom has estimated that the Indian ITES industry will gross over $5.7 billion by 2005 (based on a conservative year-on-year growth of 65 percent by Nasscom). O Nasscom-McKinsey: In 1999 they estimated by 2008 it will be $17 billion but it has been revised to $21-24 billion by 2008. Indian can capture 25% of global BPO offshore market and 12% of the market for other services such as animation, content development and design services.O Gartner: $1 billion (2002), $1.2 billion (2003). $13.8 billion by 2007.
Gartner does not incorporate animation, medical or other (legal) transcription services, GIS, market research, data search, research and development, network consultancy and other non-business processes in its estimates on the ITES market size and potential. Revenue Year 2002 2003 2004 2005 2006 2007 CAGROffshore BPO Revenue 1,322 1,825 3,017 6,439 12,563 24,230 78.91Indian BPO Revenue 912 1,205 1,961 3,928 7,412 13,811 69.35Total BPO Market 110,167 121,687 131,171 143,090 157,033 173,070 9.45CAGR in % 2002-07 Figures in $ million Source: Gartner Dataquest (May 2003) HR BPO Last Financial YearHR outsourcing forecasts by process in Asia Pacific (In $ million)Payroll services 761.20Benefits administration 535.65Education and training 555.99Recruiting and staffing 347.98Personnel administration 167.16Other HR functions 191.97Total 2,560.00Source: GartnerIndia Vs U.S. BPO operating costsUS$ Cost per FTE(Full Time Employee) United States India India as % of US costsPersonnel 42,927 6,179 14%G&A Expense 8,571 1,000 12%Telecom 1,500 2,328 155%Property Rentals 2,600 847 33%Depreciation 3,000 1,500 50%TOTAL EXPENSES 58,598 11,854 20%Source: Industry Sources, Merill Lynch 2003 (From the Nasscom Strategic Review 2003)BPO Service India - SWOT AnalysisStrengths O Highly skilled, English-speaking workforce. O Cheaper workforce than their Western counterparts. According to Nasscom, The wage difference is as high as 70-80 percent when compared to their Western counterparts. O Lower attrition rates than in the West.
O Dedicated workforce aiming at making a long-term career in the field. O Round-the-clock advantage for Western companies due to the huge time difference. O Lower response time with efficient and effective service. O Government Support Weaknesses O Recent months have seen a rise in the level of attrition rates among ITES workers who are quitting their jobs to pursue higher studies. Of late workers have shown a tendency not to pursue ITES as a full-time career. O The cost of telecom and network infrastructure is much higher in India than in the US.
O Cultural differencesO Poor globalization skillsOpportunities O To work closely with associations like Nasscom to portray India as the most favored ITES destination in the world. O Indian ITES companies should work closely with Western governments and assuage their concerns and issues. O India can be branded as a quality ITES destination rather than a low-cost destination. Threats O The anti-outsourcing legislation in the US state of New Jersey. Three more states in the United States are planning legislation against outsourcing Connecticut, Missouri and Wisconsin. O Workers in British Telecom have protested against outsourcing of work to Indian BPO companies.
O Other ITES destinations such as China, Philippines and South Africa could have an edge on the cost factor. Countries that are serious competitor(s) to India? Philippines boasts of strong skills in finance and accounting. The other countries India is competing with are Mexico, Canada and Ireland. In terms of cost, Philippines and Malaysia are competitive with India. However, India's main competitors in the BPO space produce a fraction of the graduates that India does. Cost of Education in CitiesCountry USP LimitationPhilippines Understands the US market; voice work; low attrition More expensive than India; small talent pool Canada, Ireland, Australia Understands the US market; high-end skills High costs South Africa Time zone similar to Europe; 25% cost saving, good for niche work Skill shortage China Low costs Quality of English not good Russia Technology skills Poor infrastructure; corruption; language Czech Republic, Hungary European language skills Small talent pool; high costs Mexico Immediate neighbor of US, 30% cheaper than US; Spanish skills Good only for low-end jobs.
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