Sri Lanka’s competitive advantage in the IT/BPM industry is built around agility, high value-to-cost, a niche talent base and strong ethics, and innovation capability, that has resulted in the country gaining recognition globally as a top BPM service delivery location.
At the end of 2019, the BPM industry in Sri Lanka generated US $ 345 million in revenue and had over 80 companies catering to diverse industry vertical and service areas, backed by a workforce of 25,000 that comprised of almost equal gender representation. The Government of Sri Lanka has also recognized the IT/BPM industry as of strategic economic importance and has been formulating supportive policy and legislation.
The Sri Lanka Association for Software and Services Companies (SLASSCOM), the national chamber for knowledge and innovation industry in the country, as a part of it’s contribution to supporting the future growth of this industry, in partnership with the Association of Chartered Certified Accountants (ACCA), the world’s most forward-thinking accountancy body, will be launching “ a state of the industry“ report on the 23rd June 2021.
The report gives in depth insights of the industry at large and showcases factors contributing to its growth trajectory, a profile of the BPM service providers, talent and skills prevalent within the sector, case studies emulating the resilience, adaptability and capability of the sector and future plans for the growth of the industry.
Speaking of this initiative Chairman of SLASSCOM Channa Manoharan said “the BPM industry in Sri Lanka has seen substantial expansion having one of the strongest growth among all export sectors, providing significant benefits to the national economy. This report builds awareness of the value that global businesses can derive from working with Sri Lanka, which will in turn help to propel it’s future growth.”
Shanaka Fernando Head of the BPM Forum at SLASSCOM further explained “through this report an attempt has been made to enlighten global BPM sector stakeholders, on a multitude of factors covering key operational facets such as the human resource and talent pipeline, infrastructure and technological environment, specialization capabilities and the future potential of the industry. This will enable global players to gain a good insight into the value that can be derived from choosing Sri Lanka as their future outsourcing destination “.
Jehan Perinpanayagam, Director SLASSCOM and Board Lead of the BPM Forum added “I am delighted and proud as a part of the BPM Forum of SLASSCOM, to launch this exciting report containing vital industry statistics on the industry and showcases some impressive numbers and case studies. I thank ACCA for coming on board to support the research and publication of this report and to PWC for doing an outstanding job of compiling the report. “
Outlining their involvement and support towards this initiative, Ms. Nilusha Ranasinghe, Head of ACCA Sri Lanka stated “SLASSCOM is no stranger to Sri Lanka and we have collaborated with them for rolling out the industry report for over a decade. The current pandemic has made outsourcing functions more important than ever, as companies try to scale down their full-time workforces and find ways to save money, while still spurring growth to drive transformational change and improve business results. As such, we see this collaboration and partnership in rolling out this report as a very opportune factor in showcasing Sri Lanka as a center of Excellence, and we are very happy to play a key role in this venture.“
With outsourcing firms slated to be a key enabler to help businesses expand their scope, revamp business processes, automate and enhance security and build greater business resiliency to be better prepared for any future crisis, this report is set to help many big global players understand the values they can gain by using Sri Lanka as their “go to” outsourced destination, in turn helping generate high value export revenue for Sri Lanka.