Cashing in on BPO boom

5 August, 2020 12:00 AM printer

In a heartening piece of news that could lift coronavirus gloom, a business-page report of this daily informs that Business Process Outsourcing (BPO) sector played an important role in boosting the economy through automation in back office management amid corona pandemic. BPO is a method of subcontracting various business-related operations in back office management mostly executed via technology-based platform. Although the country’s BPO sector is still in its infancy compared to that of our next-door neighbour India, it is steadily moving up both in terms of scale and value. And it is no secret that the country’s IT and IT-enabled service sector is growing by leaps and bounds thanks to the government’s firm commitment towards building a ‘Digital Bangladesh’.

The country’s IT sector is growing fast. According to official data, there are 120 firms that arranged employment for 15 thousand people in BPO sector occupying $400 million worth annual market. Apart from BPO, local firms are earning a huge sum of money by exporting software and providing ICT-related services through outsourcing and freelance work. The government has a lofty vision of earning USD 5 billion a year from IT sector from 2021.

The sector has vast potential. In order to harness the potential of the sector, the government has taken several praiseworthy initiatives. The construction work of country’s first Hi-Tech park, a specialised economic zone for the IT sector, in Gazipur is going on in full swing. Besides, Sheikh Hasina Software Technology Park has been set up in Jashore. These initiatives and necessary policy support can provide much needed boost to the country’s digital advancement, economic growth and job creation.

Digital Bangladesh has been a buzzword since 2008. The government often outlines lofty ambitions regarding digitalisation of different aspects of the country and takes pride in the country’s digital advancement. The gains in BPO sector is such an achievement that we can be proud of. The post Covid-19 world is going to be more digitalised than ever, and we must take adequate preparations to reap the benefits and tackle the challenges.