'BPM industry could double revenue growth to $42-50bn by 2020'

The BPM industry has potential to double its revenue growth to USD 42-50 billion and employ 2 million people by 2020, Nasscom President R Chandrashekhar said today.
"The BPM industry has potential to double its revenue growth to USD 42-50 billion and employ two million people by 2020, thanks to dynamic shifts in demand side markets spanning verticals, geographies, customers and services," Nasscom President R Chandrashekhar told reporters.
He said the BPM firms have to redesign their service offerings to address emerging opportunities and nurture innovation and collaboration, identify unmet and unknown customer needs.
As per a survey finding, the global BPM spend increased to USD 168 billion in 2013 from USD 142 billion in 2010, growing at a CAGR (cumulative average growth rate) of 6 per cent, while its offshoring market size grew 9-10 per cent CAGR to USD 53-55 billion from USD 40-42 billion in the same period (2010-13).

Nasscom BPM council Chairman Keshav Murugesh said the industry was creating a strategic partnership with its customers to deliver on the outcomes.
"Highlight of the industry is the growing demand for knowledge services followed by marketing & data analytics and legal services," Murugesh added.

Nasscom also announced top 20 BPM exporters in India for the year 2014, which includes companies like Genpact Limited and Tata Consultancy Services Limited.
Genpact has been declared the top BPM exporter followed by Tata Consultancy Services, he said.
Serco Global Services stands at number three position, he added.
Chandrashekhar said at USD 23.2 billion of revenues in FY 2014, the BPM industry continues to evolve.

"The Indian BPM industry continues to evolve and grow extensively. The industry has transformed from its humble beginnings a decade back, into the nerve centre for BPM related activities for the globally inter-dependent economy.