India has been the hub for IT outsourcing and BPO. The country houses a sizeable workforce of talented people who can work competitively at a lower cost than in other countries.
The business process outsourcing industry has grown in recent years, providing companies with an outsourced workforce to help them complete tasks that would be too expensive or time-consuming to do internally.
The role of BPOs and the security measures and safeguards that they take to protect them has become crucial in recent times.
It is not just about safeguarding against cyberattacks, but also to ensure that the confidentiality and privacy of data is protected by appropriate means such as encryption, firewalls, and so on.
The digital world these days is an open one, so it is important for organizations to be aware of their vulnerabilities and take necessary precautions accordingly.
What are the Current Threats to the Indian BPO Sector?
India’s BPO industry has been a major contributor to the services export of the country. A recent report by Nasscom and Grant Thornton, revealed that BPO exports contributed $25 billion in FY2017-18, up from $23 billion in FY2016-17.
But this sector is affected by some challenges too. Here are the top three threats to the Indian BPO industry:
1) The changing face of global outsourcing: Many new offshore destinations such as Vietnam, Pakistan and Malaysia have made it difficult for India to maintain its lead in global outsourcing.
2) The rapid emergence of new technologies: It has increased competition and increased cost pressures for traditional services like voice and customer support, while increasing productivity for newer areas like data analytics and AI-driven cognitive services.
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The Indian BPO and outsourcing market is all set to lose $2.6 billion or 1% of its turnover to the US. The reason behind this is that US companies are now moving their operations out of India due to security risks and higher costs.
How to Protect Your Business from these Risks?
As an owner of a business, the most important thing is to keep your business safe in all possible ways. The risks are always there in every industry. What is important is to identify these risks and find out how you can protect your business from them. There are two ways in which you can do this. Firstly, you can use an insurance company to take care of the risk or you can invest in one of the many protection plans that are available for businesses.
There are several types of insurance policies that are available for businesses today. These policies include general liability, property insurance, workers compensation etc. These policies not only offer protection against financial loss but also offer protection against personal injury and death which may be caused by accidents at work place or during journeys.
Security guards usually form the first line of defense for BPOs. They control all aspects of protection and ensure safety. To hire an effective security guard, it is important to ensure they have the right weapon accessories. Common accessories include batons, pepper spray, handcuffs and stun guns. You can buy AR15 related accessories like scopes, stocks, and sights.
The Future of Indian BPO and Predictions
Security is paramount for any business and there are a variety of solutions to meet your requirements. We supply and install CCTV and Alarm Systems, Access Control Systems and offer manned guarding services. Alongside this we can also supply a range of security products such as batons, pepper spray and personal alarms.
The Indian BPO and IT industry has come a long way in the past few decades. It has grown exponentially, and is now making waves in the global market.
BPOs have proved to be an essential component in today’s knowledge economy.
As technology continues to advance, the need for BPO services will also increase in scope and sophistication. The future of Indian BPO looks bright!