'Indian BPO space still largely untapped'

New Delhi, May 9: Indian Business Process Outsourcing (BPO) suppliers have achieved a significant mass but the space is still largely untapped, a global consulting firm has observed.

Everest Research Institute (ERI), dealing in sourcing and offshoring advisory services, suggests that Fortune 2000 companies should actively consider offshoring their business process on a larger scale to unlock additional value.

In a study 'Business Process Outsourcing -- Indian Supplier Landscape' has identified 11 Indian BPO suppliers that are establishing themselves as global players through cost efficiency and process and industry expertise.

''While North American companies currently contribute the largest amount to offshore BPO, the market is still nascent leaving significant opportunity for near term growth,'' ERI Research Director Sheetal Bahl said.

The study evaluated BPOs headquartered in India or those with majority of its workforce in the country, generating revenues worth over 100 million dollars with a headcount of more than 10,000.

It highlighted that suppliers need to continue making ''significant'' investments in people, processes, and technologies to continue to deliver strategic value.

The growth of the suppliers is expected to be driven by a mix of different offerings such as finance and accounting outsourcing, vertical-specific offering, and knowledge process outsourcing.

UNI