Offshore BPO is rocking everywhere
There are a lot of disparities in the populations across various parts of the world with the developed nations mostly having less population especially in the western world. In contrast to this, lesser developed countries have a high population especially countries in Asia. This has created the essence of offshore BPO where a company operating in a certain countries hires another company based in a different country to provide it with labor and the services it needs. Some of the key areas where outsourcing is well developed include IT, finance, administration, payroll management, customer services and so on.
The main reason why a company will prefer offshore BPO is the aspect of cheap labor. Some countries like India and China have huge populations and thus cheap labor. This fact has pushed many companies especially those of American origin to outsource in this countries. This does not work alone, some these countries have a well developed trade associations which have worked well to ensure that their countries are competitive and preferred to provide outsourced businesses.
The shift to telemarketing has also been a force behind the increased offshore outsourcing as it is easy to sell from any destination. This together with the development of IT and third party companies in technology especially in mobile devices has boosted it further. By 2003 offshore BPO was expected to hit over 1.6 billion dollar from the 1.3 in the previous year. This is an indication that the business is actually booming.
India is the biggest beneficiary of offshore outsourcing with a market share of almost 60% of the entire world volume. Recently however, there have been several new comers like Malaysia, Philippines and Sri Lanka. There is a projection for the further growth of offshore sourcing though most of the outsourcing companies which have over 1000 employees have there headquarters in the US
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