Fifty-four percent (54%) of the 600 mid-to-large companies that were surveyed declared that they are planning to add 5% or more to fund their BPO projects, while 20% are planning to escalate BPO budgets by 10%, showing that opportunity to expand BPO or IT outsourcing has indeed returned since the recession.
Teresa Jones, principal research analyst at Gartner, said, "Many of these budget increases are driven by the fact that BPM is focused on improving business outcomes and explicitly meets the objectives of many organisations' return-to-growth strategies.”
This could be advantageous for the key players in the international BPO market -- India and the Philippines. Twenty-five percent of the participants in the Asia Pacific region were planning to increase BPO expenditures by more than 10%, which shows that “return to growth” trend is more aggressive than the 20% rate globally.
Also, companies turn towards BPO expansion rather than IT outsourcing, for they see that BPO offers more opportunities.