The Budding Business Process Outsourcing in Sri Lanka
Sri Lanka may not be at the top of countries involved in business process outsourcing but it is increasingly becoming preferred. Having learnt from India’s success in this area it is slowly opening up to many foreign companies which are opening their operations in this country. Business process outsourcing in Sri Lanka has been favored by fact that the country has opened an outsourcing trade association geared at helping it become a leading center for this business.
For much success to be realize however, the country need to focus in attracting some of the powerful vendors. Like India, business process outsourcing in Sri Lanka has much potential as the country has all the attributes which has made India quite successful. The country has already captured some of the leading vendors like WNS and RR Donnelley, it stand a chance of bettering its connections with other vendors though its potential is still much overshadowed by India’s which has already grown to full potential
Sri Lanka has the advantage using India’s central hub to accommodate many vendors who would be looking for multiple locations to invest in. Sri Lanka has invested so much in finance and accounting thus it is becoming a favorite choice for many vendors who are operating in this area. Though Sri Lanka has a small population of about 20 million citizens, it produces about 50,000 qualified accountants annually who cannot be consumed locally thus the need to develop business process outsourcing.
For business process outsourcing in Sri Lanka to succeed there should be an emphasis on English language as well as high literacy levels and much compliance to the western legal system as it is the home of most influential vendors. In addition to this, Sri Lanka could meanwhile use the facilities in India to better its appeal to foreigners.
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