Indian BPM services to hit $100B in 10 years — NASSCOM
The higher demand for Business Process Management (BPM) services could boost India’s IT services industry to reach $100 billion in the next ten years, said technology industry body NASSCOM.
According to a report by NASSCOM in collaboration with HFS Research, the country’s BPM industry is estimated to have grown by 14% year-on-year in FY2022 and accounted for nearly 40% of global sourcing spend. Its revenues is totaled at $44 billion in the same period.
NASSCOM VP Industry Initiative KS Viswanathan said that the demand is led by a requirement to support core enterprise solutions, which are increasingly being outsourced due to cost control measures by global clients.”
Viswanathan added that the emphasis on cost optimization and return on investment is also changing the traditional business models in the BPM sector.
“The interim, by 2027-28 our goal is to be a $72-$75 billion industry,” he stated.
The report also revealed that India’s BPM segment is moving up the value chain from live customer interface services to integrated technology-led business operations.
“Companies are also looking out for models where the BPM service provider will manage the end-to-end transaction processing across onsite, nearshore, and offshore solutions. And finally, there are the outcome-based models for a specific set of efforts and quality of work,” Viswanathan noted.
