The Indian BPM industry is estimated to now account for over 37 percent share in global sourcing and is witnessing a 1.7X revenue growth.
Industry body Nasscom said India continues to be the largest BPM (business process management) base in the world, generating close to $32.5 billion in revenue with an employee strength of 1.2 million.
The Indian BPM industry is estimated to now account for over 37 percent share in global sourcing and is witnessing a 1.7X revenue growth. This is set to grow from $154 billion to a projected $167 billion in FY18, an increase of almost 8 percent, Nasscom said in a statement.
"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. Upskilling for digital, acquiring competencies through acquisitions or partnerships, building platforms and products, and leveraging centers of excellence in new technologies are some of the key priorities of companies in the BPM industry," Nasscom Vice-Chairman and WNS CEO Keshav R Murugesh said.
Nasscom, which hosted its BPM Strategy Summit 2018 in Bengaluru, highlighted that the industry is taking advantage of emerging technologies such as Robotic process automation (RPA), artificial intelligence (AI), digital communications, Internet of Things (IoT), cognitive computing and more, to improve profitability, collaboration and competitiveness.