DUBLIN, April 15, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/fm8vvj/global_bpo_market) has announced the addition of the "Global BPO Market in the Public Sector 2015-2019" report to their offering.
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The analysts forecast the Global BPO market in Public sector is set to grow at a CAGR of 6.0% over the period 2014-2019
BPO is a segment of outsourcing, which consists of subcontracting certain business processes of an organization to a third-party vendor that has expertise in the required domain. The Public sector refers to government services such as the military, police, public education, public transit, healthcare services as well as employees working for government organizations. The BPO services in Public sector support governments to perform various functions such as e-governance initiatives, taxation, asset registration, pensions, and welfare programs, including financial assistance for the unemployed, and in a cost-effective manner.
The Global BPO market in Public Sector can be categorized into four segments: F&A Outsourcing, CRM BPO, HR Outsourcing, and Procurement Outsourcing. This report covers information about the market share of the Global BPO market in Public sector by services and by geography.
One of the major trends upcoming in this market is the shift to omni-channel to increase the accessibility of end-consumers and to strengthen customer relationships. The omni-channel helps governments to synchronize and store detailed information about customers which eventually leads to easy tracking of complaints and customer queries.
According to the report, the Global BPO market in the Public sector is witnessing high growth because of the increased collaboration of IT services in the BPO sector. IT has facilitated the automation of various activity segments such as procurement, orders to pay, invoicing, accounts receivable, payroll outsourcing, and many others. Automation is increasingly being adopted to mitigate productivity problems and to control rising costs.
Further, the report states that one of the major challenges for the Public sector organizations is the need to spend cautiously because of market dynamics and the need to withstand budgetary pressures. These factors have forced government agencies to revise their outsourcing budgets, which eventually reduces contract sizes and number of contracts.
- Serco Global Services
Other Prominent Vendors
- 3i Infotech
- Amadeus IT Group
- ATS Group
- HCL Technologies
- NCO Financial Systems
- Northrop Grumman
For more information visit http://www.researchandmarkets.com/research/fm8vvj/global_bpo_market
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SOURCE Research and Markets