Employees working at a tech company in India. (Money Sharma/AFP/Getty Images)
The Business Process Management industry in India aims to reach $50 billion in revenue by 2020, the industry officials said. – @siliconeer #siliconeer #IndiaBPM #DigitalIndia #MakeinIndia #TechIndia #NASSCOM #KeshavMurugesh #RChandrashekhar #Infosys #TataConsultancy #TCS #Cognizant #Google #Microsoft #Accenture
“We are looking at strong growth going forward and our target is to get to $50 billion in terms of revenue by 2020,” NASSCOM BPM Council Chairman Keshav Murugesh told reporters.
Speaking on the sidelines of NASSCOM BPM Summit 2016 in Bengaluru, Sept. 22, he said “What will drive growth and what is the kind of impact we are seeing, is strong focus on automation, digitization and new model to help service clients, moving away from traditional models to much more outcome and output based models.”
“We are seeing a lot more a focus on advanced analytics, robotics processed automation not only in new areas, but also in the traditional areas, and what is interesting is we are seeing that existing clients are also looking at spending in new areas, while new clients are imbibing the new models,” he added.
According to industry officials with 2,500 plus firms, BPM industry’s revenue in India in FY2016 was at $28 billion and the country’s share in global sourcing is about 38%.
Of the $28 billion revenue, $3.6 billion is domestic BPM revenue.
Stating that the M&A in the industry is taking place at this point in time, Murugesh said social media, mobility and other technologies are driving demand from customized services.
NASSCOM further said that with a share of over 25% of the total IT-BPM exports, the industry added 49,000 employees to its workforce during the year.
NASSCOM president R. Chandrashekhar said that automation, digitalized processes and new business models are enabling the BPM sector to take a step forward in adopting a more strategic role as compared to being just another outsourcing platform.
He said the next wave of growth for the industry would come from increasing demand of technologies like advanced analytics, social media, mobility and other new technologies, driving demand for specialized services.
“The BPM sector has always been a major contributor towards the growth and the industry today has a more strategic and intellectual role to play, gravitating towards global competitiveness,” he added.
During the summit, NASSCOM also discussed the preliminary recommendations of its Consumer Interest Protection Task Force in dealing with reputational risk, which will be shared with the government and other relevant agencies in greater detail.
The recommendations identify intervention points to address cases of tech fraud and enhance consumer interest protection like prevention via development of a common code of practice featuring standards security, privacy and ethical practices; detection and reporting by setting up an accessible whistle blowing mechanism to register complaints.
The last is investigation through an independent government investigation agency with the jurisdiction and power to co-ordinate between governmental agencies and departments, NASSCOM said.
It further said the council was working on building a center of excellence on data sciences and capacity development for emerging players, skill and talent.