The second day of the American Jordanian Expo, AJEX 2003, opened with a session on Business Process Outsourcing (BPO), gathering leaders in this sector to discuss the Kingdom’s opportunity in capturing a share of the global BPO market.
The global market is estimated to reach more than $85 -100 billion by 2010 and exhibiting a growth rate of 10 percent in demand.
BPO allows international firms to focus on their core competencies by outsourcing their non-core business processes to in-expensive best-in-class third party providers. For example, a major US insurance company would focus on its high-value added services, and outsource claims processing to a firm in Bangalore, India, at a 40 percent cost savings.
Outsourcing has grown from IT services to involve a range of business processes, such as accounting, customer support, data analysis, and others. For the BPO industries to succeed, critical factors must apply such as a liberal and cost effective telecom environment, availability of skilled human resources, and low migrating costs.
The session included speakers from leading consulting, venture capital and IT firms, such as EDS, Washington Technology Partners and NeoIT, who stated their belief that Jordan has a clear potential to capitalize on its favorable trade relationship with the United States and participate in the outsourcing industry.
Jordan is the fourth country to have a Free Trade Agreement with the US and has embarked on forming strategic partnerships with the world's leading economies and significant legislative reforms in order to join the World Trade Organizations (WTO).
AJEX 2003, was a two-day conference and exhibition held last week under the patronage of King Abdullah II and aimed at promoting trade and investment opportunities between Jordan, the US and the region. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
