Internet have played great role for decreasing the distances as well as differences. Online business industry have also developed in recent years helping in creating strong network of commerce and trade among different industries, various concepts have developed such as B2B business to business, B2C business to customer, etc.
In the arena of global business development, Business Process Outsourcing took place for the last many years, which is continuously serving the business solutions to nations involved. Generally business companies from developed nations outsource their non core business process to services providers. In this international business network developed nations like US, UK and other European countries generally use to outsource their business. On the other hand, India and various other developing Asian countries are involved in this process as IT service providers. A study shows among them all, India is the favorite destination of developed nations for outsourcing their non core business process. India has emerged due to its best geographical location and maximum literate English speaking generation, which can provide quality work.
There are various forms of outsourcing business can be seen which are serving the global business industry. Call centers provide in-bond & out-bond services as well as technical support to customers of the companies situated in developed nations. Second main off shore services provided are in IT sector, almost all the metro cities of India have been converted into IT hubs for providing the offshore services. As recently world economy is facing the recession, which has affected the business related to outsourcing of all the involved nations. But still India’s various developing cities are emerging as good IT hubs which are likely to be good offshore service providers in near future.
There are various reasons for outsourcing business processes such as to improve revenue growth of the company, to maximize the operational & organizational efficiency and ultimately the most solid reason of saving money. On the other hand, off shore service providers from developing nations receive business opportunities, new business processes of the business, growth in professional employment, and individual as well as organizational enhancement. This kind of business relationships brings foreign exchange to host country, which ultimately contributes in foreign reserves.
Business process outsourcing has contributed the global business world a new form of doing international business and way to enhance the business relations among different countries.
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