3D Hand Model Animation With A New Data-Driven Method The Outsourcing History of India

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The Outsourcing History of India

India’s outsourcing story is one of phenomenal growth in a very short span of time. The idea of ​​outsourcing has its roots in the theory of ‘competitive advantage’ propagated by Adam Smith in his book ‘The Wealth of Nations’ which was published in 1776. Over the years, the meaning of the term ‘outsourcing’ has undergone a sea- change. What started as the shift of manufacturing to countries providing cheap labor during the Industrial Revolution has taken on a new connotation in today’s scenario. In a world where IT has become the backbone of businesses around the world, outsourcing is the process through which a company hands over part of its work to another company, making it responsible for the design and implementation of the business process according to strict guidelines regarding requirements. and specifications from the external company. This process is beneficial to both the outsourcing company and the service provider, as it enables the contractor to reduce costs and increase quality in non-core areas of the business and utilize its expertise and competencies to the fullest. And now we can see the benefits for service companies in India as they mature, advance and build core capabilities beyond what would generally be possible outsourced.

Since globalization began in India during the early 1990s, successive Indian governments have pursued economic reform programs committed to liberalization and privatization. Until 1994, the Indian telecom sector was under direct government control and state-owned entities enjoyed a monopoly in the market. In 1994, the government announced a policy whereby the sector was liberalized and private participation was encouraged. The New Telecom Policy of 1999 brought further changes with the introduction of IP telephony and ended the state monopoly on international calling facilities. This brought a drastic reduction and this heralded the golden age for the ITES/BPO industry and brought in a host of inbound/outbound call centers and data processing centers. Although the IT industry in India has been around since the early 1980s, it was the early and mid-1990s that saw the emergence of outsourcing. One of the first outsourced services was medical transcription, but the outsourcing of business processes such as data processing, billing and customer support began in the late 1990s when MNCs established wholly owned subsidiaries that catered to the requirements of the external process of their parent companies. . Some of the earliest players in the Indian market were American Express, GE Capital and British Airways.

The ITES or BPO industry is a new and emerging sector in India and has been around for a little over five years. Despite its recent arrival on the Indian scene, the industry has grown phenomenally and has now become a very important part of the export-oriented IT software and services environment. It initially started as a limited activity for multinational companies, but today it has developed into a broad-based business platform supported by leading Indian software and IT services organizations and other third-party service providers. The ITES/BPO market expanded its base with the entry of Indian IT companies and today’s ITES market is characterized by the existence of these IT giants who are able to leverage their extensive skill sets and global clientele to offer a wide range of services. The spectrum of services offered by Indian companies has evolved significantly since its humble beginnings. Today, Indian companies are offering a variety of outsourcing services ranging from customer care, transcription, invoicing services and database marketing, to web sales/marketing, accounting, tax processing, transaction document management , telesales/telemarketing, human resource recruitment and biotech research.

Seeing the success of India’s IT/software industry, the central government identified ITES/BPO as a key contributor to economic growth, prioritized attracting FDI in this segment by establishing “Software Technology Parks” and “Enterprise Zones of Export”. Benefits like tax holidays generally enjoyed by the software industry were also made available to the ITES/BPO sector. The National Telecom Policy (NTP) introduced in 1999 and the deregulation of the telecom industry opened national, long distance and international connectivity to competition. State governments also provide assistance to companies to overcome recruitment, retention and training challenges in order to attract investment to their region. The National Association of Software and Services Companies (NASSCOM) has established platforms for disseminating industry knowledge and research through its surveys and conferences. NASSCOM acts as an “advisor, consultant and coordinating body” for the ITES/BPO industry and liaison between central and state government committees and the industry. The ardent support of the ITES/BPO industry has led to the inclusion of call centers in the ‘Ancillary Business Services’ segment, thereby providing exemption from service tax under the Finance Bill, 2003.

These measures have led to a steady flow of investment from large foreign companies such as Reuters to set up large ITES/BPO facilities across India. Moreover, existing ITES/BPO operations of large multinational companies are also growing to meet the ever-increasing demand for better and faster service. Almost all of India’s leading ITES/BPO giants have announced some form of expansion and are in the process of hiring manpower to fill the additional positions. India’s competitive advantage lies in its ability to deliver huge cost savings thereby enabling productivity gains and this has given India an edge in the global ITES/BPO market. NASSCOM studies identify the following factors as the main reasons behind India’s success in this industry (Source: http://www.nasscom.org):

o Abundant, skilled, English-speaking workforce, which is also being tapped by ITES hubs such as Singapore and Ireland.

o Improvement of telecom and other infrastructure which is at the level of global standards.

o Strong quality orientation among players and their focus on measuring and monitoring quality objectives.

o Fast turnaround time and the ability to provide 24×7 services based on the country’s unique geographic location that allows for the use of time zone differences.

o Proactive and positive policy environment that encourages ITES/BPO investments and simplifies rules and procedures.

o A friendly tax structure, which puts the ITES/BPO industry at par with IT service companies.

Outsourcing to India offers significant improvements in quality and productivity for foreign companies in key parameters such as number of correct transactions/number of total transactions; total satisfaction factor; number of transactions/hour and average response speed. Surveys by NASSCOM also revealed that Indian companies are more focused on maintaining quality and performance standards. Indian ITES/BPO companies are on an upward curve in terms of quality standards. Organizations that have achieved ISO 9000 certification are migrating to ISO 9000:2000 standards and companies in the CMM framework are reorganizing with the CMMI model. In addition to investing in improving their CRM and ERP initiatives, many Indian ITES companies have begun to recognize COPC certifications for quality and are working towards achieving COPC licenses.

Despite being a newcomer to the global ITES/BPO industry, the Indian ITES industry registered a growth rate of over 50% in 2002-03. Industry experts consider this a positive sign of times ahead and a look at the rankings and revenue and headcount statistics show the industry’s potential. The global ITES/BPO industry was valued at approximately US$773 billion during 2002 and according to International Data Corporation estimates, it is expected to grow at a Compound Annual Growth Rate (CAGR) of 9% during the period 2002-2006. NASSCOM lists the key indicators of the high growth potential of the ITES/BPO industry in India as follows (Source http://www.nasscom.org)

o During 2003-2004, the ITES-BPO segment is estimated to have achieved a 54 percent increase in revenue compared to the previous year.

o ITES exports accounted for $3.6 billion in revenue, up from $2.5 billion in 2002-03.

o The ITES-BPO segment also proved to be a great opportunity for job seekers, creating employment for around 74,400 additional personnel in India during 2003-04.

o The number of Indians working for this sector jumped to 245,500 by March 2004.

o By 2008, the segment is expected to employ over 1.1 million Indians, according to studies conducted by NASSCOM and leading Business Intelligence firm, McKinsey & Co. Market research shows that in terms of job creation, the ITES-BPO industry is growing. in over 50 percent.

Surveys of the Indian ITES/BPO industry in 2004 expected it to follow the trends given below:

Customer care: Customer care and support services will continue to lead in terms of revenue generation, with a turnover of around $1,200 million in 2003-04, up from last year’s turnover of $810 million.

Finance: With the financial services segment moving into value-added domains such as insurance claims processing, financial management services and equity research, this segment is expected to achieve the highest growth, with an estimated $820 million in revenue. in 2003-04, from the USA. 510 million dollars in 2002-03.

Human resource services: Human resource services is also expected to grow and revenues are expected to touch $70 million during 2003-04, thereby providing hidden opportunities for the dominant players in the industry.

Payment services: This segment has also been identified as a high growth area within the industry and is expected to generate revenues of approximately $430 million for 2003-04, up from $210 million in 2002-03.

Administration: Revenue from the administration services segment is expected to increase from $310 million in 2002-03 to $540 million during 2003-04.

Content Development: The content development services segment, which includes engineering and design services, digitization (GIS), animation, network management and biotechnology research, is expected to reach a turnover of around US$ 520 million in 2003-04. .

The availability of technically trained and skilled manpower in India is making companies around the world look at the country as a profitable base to relocate their high-end support services. Companies like COLT Technology Services are considering outsourcing their back-office technical support work to India. Other areas are high-level network engineering/management. Another area that is showing tremendous potential is that of digital content creation and animation. Animation studios like Walt Disney, MGM and Warner Brothers are already outsourcing low-level jobs like cleaning, changing and modeling to India. The availability of skilled and trained manpower and India’s ability to keep pace with the latest technological advancements in the industry is prompting foreign studios to consider India as a base for offshoring other high-end animation work. such as storytelling and developing original content for animated film commercials. The TV series. Teleradiology is the next segment that holds a lot of promise, mainly due to time zone differences and availability of highly skilled radiologists, and companies like Teleradiology Solutions have been offering their services to hospitals in the US and Southeast Asia for the past two years. Engineering services such as CAD/CAM 2D, 3D and CAE modeling and design automation are the latest additions to the ever-growing list of processes outsourced to India.

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