India, the largest BPM base with revenue of $28bn

India continues to be the largest base for Business Process Management (BPM) globally with $28 billion revenue, said the IT industry's representative body National Association of Software and Services Companies (NASSCOM), in a two-day BPM Strategy Summit 2016 held in Bangalore.

“The Indian BPM industry is a leader in the outsourcing business with revenues of US $28 billion, this leadership position is built by providing high-quality services as-well-as confidence to overseas clients that data of their customers would be safe and secure in India,” stated NASSCOM in a press release.

Growing at a CAGR of over 8 percent, the BPM industry clocked total revenue of USD 28 billion during FY2016. With a share of over 25 percent of the total IT-BPM exports, the industry added 49,000 employees to its workforce, at a rate of 4.7 percent, taking the total no. of employees to 1,086,000.

NASSCOM also announced the Top 10 BPM exporters in India for the year 2016:

1. Genpact Ltd.
2. Tata Consultancy Services Ltd
3. Wipro BPO
4. Infosys BPO
5. WNS Global Services (P) Ltd
6. Firstsource Solutions Ltd
7. Hinduja Global Solutions Ltd
8. EXL
9. Aegis Ltd
10. HCL Technologies Ltd. - Business Services

R Chandrashekhar, President, NASSCOM said, "Automation, Digitalized processes, and new business models are enabling the BPM sector to take a step forward in adopting a more strategic role as compared to being just another outsourcing platform. The next wave of growth for the industry will come from increasing demand for technologies like advanced analytics, social media, mobility and other new technologies, driving demand for specialized services. The BPM sector has always been a major contributor towards the growth and the industry today has a more strategic and intellectual role to play, gravitating towards global competitiveness."

NASSCOM also discussed the preliminary recommendations of its Consumer Interest Protection Task Force (CIPTF) in dealing with reputational risk. The recommendations identify the following intervention points to address cases of tech fraud and enhance consumer interest protection.

1. Prevention via development of a common code of practice featuring standards security, privacy, and ethical practices
2. Detection & Reporting by setting up an accessible whistleblowing mechanism for registering complaints
3. Investigation through an independent govt. investigation agency with the jurisdiction and power to co-ordinate between governmental agencies and departments

NASSCOM is expecting the BPM industry to grow to US$ 50 billion by 2020 and has also taken focused initiatives to enable this progress.