The business process management (BPM) market has grown manifold over the last decade. The sector earned US$ 18 billion in revenue in 2012-13 and National Association of Software and Services Companies (Nasscom), the IT industry body in India, has set a goal of US$ 50 billion in revenue from the BPM sector by 2020.
Despite the overall sluggishness in the global economy, the BPM segment has been able to sustain its growth momentum. This trend can be expected to continue as companies From BPO to BPM look for more ways to streamline their processes and cut costs.
Nasscom has even started efforts to rebrand business process outsourcing to business process management. To drive this effort it has set up a Business Process Management (BPM) Council. This council is expected to create incubation labs in high value segments like financial and accounting and analytics and multi-channel customer service.
India already has over 200 shared services companies that provide cutting-edge solutions to the global market. The BPM Council can be expected to build a foundation with a view to strengthen the ecosystem of the sector by building centres of excellence and positioning India as a preferred destination for BPM services and solutions.
By adopting a global delivery model, the Indian BPM sector has registered a high growth not only in voice processes but also in analytics based solution, supply chain management and business transformation services. IT exports in 2009 was US$ 50 billion and the BPM segment is expected to reach a similar size is revenue by 2020.
Driven by factors like accelerated deployment of the platform-based delivery models and building capabilities to deliver business transformation services are the critical factors leading the growth of the Indian BPM sector. As the value proposition offered by Indian BPM companies has moved beyond cost, the sector can only be expected to gain a more dominant role in the global outsourcing market.