The BPO sector has been severely affected due to the financial crunch. We are hearing stories of the employees being laid off or asked to go on sabbaticals. The concept of nearshoring instead of offshoring is looking good to the companies who outsourcing. But overall there is no reason to panic. All sectors have their own product life cycles and currently BPOs are at the lower end. They will surely rise. But in future more emphasis will be on KPOs rather than general BPOs. Does the global financial crisis affect the international BPO sectors?The Global financial crisis may Of course affect the International BPO sectors largely for certain period since America is facing huge financial Crunch especially due to the failures of their Banking sectors. They believed in the Market economy and outsourced many of their business activities so far. But now the system got a major set back. Also the President elect Obama has thrown away a major threat for 'outsourcing' during his election campaign.
These all yields a great fear in the fields of IT and ITES now. It may prolong for some time. But surely the US people will resolve their crisis soon. When American economy is re-built, automatically the world economic crisis will be settled down.
Consequently the Americans can not able to sit in front of Machines for longer hours to do the BPO task like our Indians. We are passionate, sincere and capable of doing materialistic jobs. So Obama can't prevent the outsourcing activity for more days to countries like India.
I strongly believe that by the end of 2009, again the BPO sector will prosper; but not to the extent of the previous days...
Note: Wherever there is a problem, there is a solution.
BPO sectors will be badly affected for some time now till the financial stability comes. The main reason is that the work done will not be for the rate BPO had done before. it is because millions are going to loose jobs and othes will face salary cut of up to 50%. so the payment which was lavish will become hand to mouth. Many companies are doing it for many companies if majority of them collapses. that BPO is bound to bankrupt. this will be a time when BPO owners and staffs should cooperate and agree to no profit no loss basis agreement. It is a tip of ice berg and rest is to come. Fasten your belt and save your money for some time to come. india and China is bound to come up due to the re-session. It is a failure in part of Bush administeration to allow such a big fraud to take place. The fraud manipulating started 4 years ago well calculated plan with November as target to withdraw the money. The american banks had given a 20 to 30 5 interest to all depositers and all major gaints and poor developing country got trapped in the interest trap. many companies started mutual fund expecting a big gain not knowing the ameriacan trap. Gone is gone save yourself from debt trap.Does the global financial crisis affect the international BPO sectors?In my view the global financial crisis affect the international Business Processing Outsourcing sectors because more IT companies of america as well as india has been affected by this crisis and so they will require more time to regain that position.Does the global financial crisis affect the international BPO sectors?
Either way. I can affect as big companies are having problems in paying and receiving money.
Also it may improve since it will be cheaper to outsource than pay higher salary at home and save money.
Definitely.. there is no doubt about it.. Almost all the companies are now redefining their IT Spending. And the shift in outsourcing to India to Vietnam. and also there wont be term BPO by 2015.Does the global financial crisis affect the international BPO sectors?
BPO sector is very poor position. This financial position currently many theaft and forgery persons.
If BPO kings restrict their SELF CENTERRED greed BPO sector will not affect .
It will boost BPO due to more thrust on cost cutting and outsorcing
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