The research firms expect robust growth in the BPO industry with more and more companies reaping the benefits of BPO all over the world. According to Nassocm Mckinsey predictions the BPO market will show the steady growth rate and clock in a revenue.

According to a new report from IDC, this market (comprising 9 business functions of human resources, procurement, finance & accounting, customer care, logistics, engineering/R&D, sales & marketing, facilities operations & management, and training) will increase to $682.5 billion in 2008, with a compound annual growth rate (CAGR) of 11%.

At the same time, Companies’ expectations and demands of BPO 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.

It is estimated by BPO leader ( Genpact 2006 ) that BPO can save at least 30-40% for your budget including the implementation costs.

The BPO market is really made up of many individual markets, each with its own nuances, unique opportunities and challenges. For service providers looking to play in BPO it is imperative to examine each function independently, analyze its characteristics, match the buyer needs and expectations within each function with their own strengths and capabilities, and make strategic decisions on where to focus.

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