NASSCOM BPM Strategy Summit 2016 begins
Focusing on the evolution of the Indian Business Process Management (BPM) sector and the role of new technologies in creating a strategic roadmap for the future, the National Association of Software and Services Companies (NASSCOM) today kick-started the two-day NASSCOM BPM Strategy Summit 2016 in Bangalore. Growing at a CAGR of over 8%, the BPM industry clocked a total revenue of USD 28 billion during FY2016. With a share of over 25% of the total IT-BPM exports, the industry added 49,000 employees to its workforce, at a rate of 4.7%, taking the total no. of employees to 1,086,000.
Speaking about the wave of change, R Chandrashekhar, President, NASSCOM said, “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. The next wave of growth for the industry will come from increasing demand for technologies like advanced analytics, social media, mobility and other new technologies, driving demand for specialised 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.”
NASSCOM also discussed the preliminary recommendations of its Consumer Interest Protection Task Force (CIPTF) in dealing with reputational risk. These recommendations will be shared with the Government and other relevant agencies in greater detail.
The Indian BPM industry is a leader in the outsourcing business with revenues of US $28 billion, this leadership position is built by providing high quality services as-well-as confidence to overseas clients that data of their customers would be safe and secure in India. The recommendations and action points put forth by NASSCOM Consumer Interest Protection Task Force, will help create a more secure ecosystem for the industry, enabling it to focus on growing from strength to strength. For the BPM industry to grow to USD 50 bn by 2020, the BPM Council has taken certain focused initiatives to enable this progress. The BPM Council has focused on rebranding and repositioning the industry from the supply and demand side respectively. In addition to this, the Council is working on building a Centre of Excellence on data sciences and capacity development for emerging players and skill and talent.