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The BPO Industry has grown manifold in the last decade. With more and more companies going global, the need for outsourcing partners is imminent. The industry has moved from just servicing back office jobs to more complex and research oriented tasks that require high level of skill and knowledge. Some of the benefits that the industry has given the world economy are:
- Reduction in costs and turn around time.
- Increase in productivity and revenues.
- Access to better skills from cheaper manpower.
- Better service to customers/Round the clock service.
- Open newer avenues for trade.
- Employment opportunities for millions in third world countries.
- Cultural exchange with other countries.
- Standardization of business processes and IT services.
In the year 2009, India was the biggest shareholder of the outsourcing pie with 5-6% of the total BPO industry.
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