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While pricing and services are important factors, you should also consider the attrition or turnover rate of the BPO company. This will give you an idea how long an agent can work for your business. Here’s the average attrition rate of the BPO industry in the past decade: Year. Average Attrition Rate for the BPO Industry.
The global BPO market is projected to reach $525 billion by 2030 , growing at over 9% annually. Through its offshoring efforts, the company generated US$108 billion in revenue by 2015. Magellan Solutions - Call Center | BPO | KPO | Outsourcing Microsoft was the first software company to reach US$1 billion in revenue.
While anyone can hire outsource services, it’s a challenge to find a reliable and proven BPO company as everyone claims to be ‘the best’ or ‘the top’. . This transforms the landscape into a highly competitive business. . Competitiveness Level: The BPO sector in India faced serious challenges due to the pandemic. literacy rate.
A 2015BusinessDevelopment Bank of Canada research paper entitled, “SMEs and Growth: Challenges and Winning Strategies” also found out from their survey findings that 64 percent consider rising operating costs as a major challenge facing SMEs’ growth. Poor economies of scale.
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