Change is the key for growth, BPOs told

“Right change will be key to sector’s achievements in the coming years. The decisions will either help firms enjoy or regret, thereby making them key decisions,” McKinsey & Company Partner Ranjit Tinaikar said.

Identifying untapped customer segments like public sector and defence, healthcare, media and utilities as drivers of growth, he said, can drive up to 80 per cent of incremental growth by year 2020 — quoting the report Perspective 2020: Transform Business Transform India, adding these will emerge as key verticles as the current core sectors will shrink.

The addressable market for domestic technology and business outsourcing services in India he said, is expected to grow to $90 billion — leaving a huge opportunity for the sector to tap. However, again the key is to adapt different  business models, delivery methods etc.

The sector must also concentrate on BRIC markets, as also small and medium business (SMBs) market. The report, also emphasises on various models that companies may have to follow to remain competent.