Financial Services BPO and ITO Oppertunities
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Transcript of Financial Services BPO and ITO Oppertunities
January 2010AAT Sri Lanka
Madu RatnayakeSLASSCOM, Virtusa
Positioning Sri Lanka as a financial services hub with BPO and ITO
Globalization
Globalization 1.0
1492 till 1800 Large to medium
countries globalizing, for imperial reasons, for resources.
Globalization 2.0
1800 till 2000 Medium to small
companies globalizing, for markets and for labor.
Globalization 3.0
2000 on wards
Small to tiny
Individuals globalizing for opportunities.
If work can be digitized, it can be done anywhere in the world
Global IT/BPO Market
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Global IT/BPO Market growing steadily
BPO - $280b ITO - $568b
IT/BPO Industry revenue is lead globally by BFSI (Banking Financial Services & Insurance)
Where are we today?
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Sri Lanka emerging as a global sourcing destination
Sri Lanka is another Asian country that has succeeded in positioning itself as an alternative to India. - IBM Global Location Trends Report 2010
Ranked 16th in the AT Kearney Global Services Location Index (GSLI) in 2009 (up 13 positions from 29th in 2007) Ranked number 5 in financial attractiveness, ahead of India, China and all of CEE
Gartner's 30 Leading Locations for Offshore Services (2010-2011). Included among the Top 9 in Asia pacific.
12th in the top ranking destinations in IBM Global Location Trends Report
Ranked among the top 10 emerging global destinations by Global Services Magazine.
Sri Lankan’s geographical location, infrastructural facilities, direct access to India market, high quality standards of the workforce, open economy and various free trade agreements make it an attractive outsourcing destination. – Global Services Destinations Compendium 2010
121154
193234
29451
57
64
78
98
2006 2007 2008 2009 2010
IT/BPO Export Revenue
IT Revenue $m BPO Revenue $m
173
213
258
312
392
5th Largest export revenue earner for the country
Sri Lanka – High Potential for Growth
Source: Tholons
Fu
ture
Att
rac
tive
ne
ss
Current Attractiveness
IndiaPoland
China
Canada
South Africa
Brazil
Philippines
Romania
Hungary
Mexico
Ireland
Czech Republic
MalaysiaRussia
Sri Lanka
Fu
ture
Att
rac
tive
ne
ssF
utu
re A
ttra
cti
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ess
Current AttractivenessCurrent Attractiveness
IndiaPoland
China
Canada
South Africa
Brazil
Philippines
Romania
Hungary
Mexico
Ireland
Czech Republic
MalaysiaRussia
Sri Lanka
Financial Services is putting Sri Lanka on the outsourcing map…
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Sri Lanka being recognized as a Global Center of Excellence for Financial Accounting
Outsourcing (FAO)
Source: Tholons
BFSI - ITO Services companies are growing
13
Banking Financial Services and Insurance (BFSI)
Talent base of Finance Professionals is growing
Vision & Goals
Vision - #1 IndustryIT/BPO Industry to become the #1 revenue earner for Sri
Lanka in the next 10 years
Goals by 2015$1bn Export Revenue
80,000 direct knowledge based jobs, 240,000 indirect jobs (1:3)
(320,000 total jobs)
Future Careers are in IT/BPO
www.FutureCareers.lk