Oct 12, 2017 03:16 PM IST | Source: Moneycontrol.com

Business process management sector to increase to $50-55 billion by 2025: Nasscom

The summit highlighted the dramatic technological shift in the BPM industry towards digital strategy, which is witnessing an ever-increasing adoption of robotic process automation, advanced analytics and digital assistance.

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The information technology services body has said that it expects revenues for India’s business process management sector to increase to USD 50-55 billion by 2025, and that digital streams will account for 60-70 percent of the BPM (business process management) service providers’ revenue in the same time frame.

At the inauguration of its BPM Strategy Summit in Bengaluru, the National Association of Software and Services Companies (Nasscom) said the Indian BPM industry has more than 35 percent share in global sourcing and 38 percent in the employable graduate pool, and is witnessing a revenue growth of 1.7 times annually.

“The BPM industry is going from strength-to-strength, embracing the change as it emphasises its customer experience, service, and innovation and setting the trends across the globe. In this era of changing expectations, hybrid growth driven by higher order thinking and digital assistance will drive dynamic shifts towards new geographies, verticals and markets,” said Raman Roy, Chairman, Nasscom.

The summit highlighted the dramatic technological shift in the BPM industry towards digital strategy, which is witnessing an ever-increasing adoption of robotic process automation, advanced analytics and digital assistance.With the advent of new pricing models and increasing demand for unique skills in analytics, domain-knowledge and emerging technology, the BPM industry is being helped by strategic acquisitions, partnerships, and collaborations.

Nasscom said there has been an over 60 percent increase in revenue per full-time equivalent, or the numbers of hours worked by a full-time employee, for analytics in the last three years. Further, new investments have gone up three times since 2014, with focus on building new products, capabilities and setting up a Digital Centre of Excellence.

There are currently over 2000 bots operational for various client services, Nasscom said.

“With customer experience becoming mission critical for companies, they are investing heavily in new technologies enabling AI, automation, big data analytics in a secured fashion. We hope this trend will continue in the coming years and will set new benchmarks for the domain, positioning India as an undisputed BPM destination,” said Rohit Kapoor, Chair, Nasscom BPM Council.

The Nasscom BPM Council also highlighted its priorities for the industry, which include positioning India as the destination of choice for global firms to deliver transformation value and the BPM sector as a world-class industry of choice for aspiring professionals.

The industry also wants to capitalise on data science and artificial intelligence as the next growth trajectory and provide high-value services, reskill the existing workforce to be positioned relevantly for future work in the areas of RPA, automation, AI, digital, and so on.