About Cloud-Based BPO
The cloud is set to revolutionize the way BPO service providers extend their offerings and help organizations reap benefits by outsourcing their business processes. For instance, applications can be made available over the network on-demand, with the cloud operating like any other utility service (turning an application on/off on-demand). This eliminates the need to invest in IT infrastructure, resulting in significant cost reduction. These benefits become evident, particularly, for organizations with legacy systems that require high maintenance and upgrades. Such organizations can reap substantial benefits by moving to the cloud and outsourcing their business processes.
Technavio’s analysts forecast the cloud-based BPO market in APAC to grow at a CAGR of 14.27% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the cloud-based BPO market in APAC for 2016-2020. To calculate the market size, the report considers the revenue generated from cloud-based BPO services in APAC.
The market is divided into the following segments based on geographical segmentation by revenue:
Technavio Announces the Publication of its Research Report – Cloud-Based BPO Market in APAC 2016-2020
Technavio recognizes the following companies as the key players in the cloud-based BPO market in APAC: Accenture, Cognizant Technology Solutions, IBM, Infosys, and TCS.
Other Prominent Vendors in the market are: ADP, Advance Payroll Services, Aegis, AntWorks, Atos, Avaloq Sourcing Asia Pacific, CA Technologies, CSC, Capgemini, Dell, EXL, Firstsource, Fujitsu, Genpact, HCL Technologies, Hexaware, HP, i-Admin, Infosys, ITC Infotech, NGA Human Resources, Oracle, Orange Business Services, Pay Asia, Sungard, Sutherland Global services, Teletech, Tiger Consulting, Wipro, WNS, and Xerox.
Commenting on the report, an analyst from Technavio’s team said: “Growing popularity of data analytics will be a key trend for market growth. BPO services are gradually moving up the value chain with a sharper focus on delivering strategic business solutions. Through the use of analytics, BPO companies can deliver solutions that not only boost operations but also reduce costs. The huge volumes of transactional data can be analyzed and mined to drive meaningful insights that drive business decisions. The analysis of transactional data allows clients to claim maximum discounts from their providers (paid-within-terms invoice processing), improve working capital management, and boost customer acquisition, satisfaction, and retention.”
According to the report, one of the key drivers for market growth will be increased need for cost-effective business processes. SMEs in India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are price-sensitive, have limited budgets, and few staff members to configure and maintain IT products and business process services. SMEs are increasingly outsourcing back-office operations that would otherwise require more infrastructure, capital investment, and human resources. Outsourcing these functions enables these firms to cut costs and apply lean concept in their operations.
Further, the report states that data security and privacy concerns will be a challenge for the market. Growth in economies such as India, China, and Southeast Asia and the advent of outsourcing practices in Japan and South Korea should generate huge volumes of business data in APAC during the forecast period. The storage capacity of data in the cloud is limitless, as data are stored in scalable and flexible infrastructure or hosted data centers. As enterprises store confidential and business-critical data in the cloud infrastructure, data security is always a prime concern. Therefore, cloud BPO service providers have to incorporate advanced data security measures into their services to ensure data storage safety.
Accenture, Cognizant Technology Solutions, IBM, Infosys, TCS, ADP, Advance Payroll Services, Aegis, AntWorks, Atos, Avaloq Sourcing Asia Pacific, CA Technologies, CSC, Capgemini, Dell, EXL, Firstsource, Fujitsu, Genpact, HCL Technologies, Hexaware, HP, i-Admin, Infosys, ITC Infotech, NGA Human Resources, Oracle, Orange Business Services, Pay Asia, Sungard, Sutherland Global services, Teletech, Tiger Consulting, Wipro, WNS, Xerox.