With over 17,000 firms and an employee strength of 1.2 million, the business process management (BPM) industry in India is the largest in the world, generating revenue close to $32.5 billion a year, the National Association of Software and Services Companies (Nasscom) said on Thursday.
The Indian BPM industry now has more than a 37 per cent share in global sourcing, the IT industry's apex body said at the inaugural day of the two-day BPM Strategy Summit 2018 here.
The focus for the industry is now on intelligent operations - process and domain expertise combined with digital technology, it said.
"As digital technologies reshape businesses, this industry with its foundation in domain and process expertise, is increasingly innovating to emerge as the hub for digital solutions," said Nasscom Vice Chairman Keshav R. Murugesh.
"Upskilling for digital, acquiring competencies through acquisitions or partnerships, building platforms and products, and leveraging centres of excellence in new technologies are some of the key priorities of companies in the BPM industry," Murugesh said.
The summit highlighted how businesses are taking advantage of emerging technologies such as RPA (robotic process automation), AI (Artificial Intelligence), digital communications, IoT (Internet of Things), cognitive computing and more, to improve profitability, collaboration and competitiveness.
Adoption of technologies like Blockchain and AI in the industry have shown how security, speed, and operational efficiencies can be enhanced, Nasscom said.
--IANS
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