Singapore sees its chance to play a part in the Offshore BPO game

Singapore wants to have a sniff of what's cooking in the kitchens of Offshore BPO services. It is eager to tap into this fast growing market. Although Offshore services firms in Singapore may find it hard to compete with Indian firms on factors such as cost and availability of talent, but it has other advantages that make it an attractive destination for grabbing Offshore BPO work.

Singapore has information security, high regulatory compliance, high-skilled labor, excellent infrastructure and political stability in the offing. Singapore companies can look at either setting up Offshore BPO units in India or acquiring Indian companies that offer Offshore BPO services.

Singapore-based IT companies seeking a toehold in the Offshore BPO market should take a serious look at boutique Indian firms and consider either buying them out or partnering them. Because even though the Offshore BPO sector is growing fast in India, Singapore has yet to observe a significant trend of companies in Singapore tapping the potential of this industry.

As now after IT Outsourcing, it is now the turn of Offshore BPO (Business Process Outsourcing) to seek its boom. With plummeting telecom costs and easy availability of bandwidth, almost all business processes, except for the very core ones of an organization, can now be Outsourced.

The Outsourcing wave is bigger, because already 300 of the world's top 500 companies have reportedly resorted to Offshore Outsourcing. This figure will only go up within the next few years. India already leads in both IT and Offshore BPO, and Singapore is also trying to get a foot into this humungous Offshore BPO market.