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IT and BPOs in Sri Lanka

Amidst Sri Lanka’s booming economic development since the end of the civil war, several industries have come to the fore as key revenue earners and one such sector is the IT/BPO industry. The country is quickly emerging as a global IT/BPO destination in several key areas and is now ranked among the Top 50 Global Outsourcing destinations by AT Kearney and ranked among Top 20 Emerging Cities by Global Services Magazine.
The industry prides itself for providing companies access to a high quality talent pool and focuses on servicing niche areas which is becoming an increasing challenge is destinations such as India and China.
Export revenues from this sector have been on a steady upward trend and the industry has been set a target of reaching one billion dollars in export revenue by the year 2016. The industry has also blossomed from operating on a small workforce and currently employs over 50,000 people and the fact that the primary business language in Colombo, the city in which a majority of the companies have been set up, is another added advantage.
Other advantages include a low attrition rate, a low-cost and highly adaptable workforce and the Sri Lankan government to fast-track the industry provides fiscal incentives and concessions.
The software services sector focuses on telecommunication, banking financial services and insurance and software testing. The BPO sector focus on financial and accounting services, investment research, engineering services and UK based legal services.
As of now, there are over 300 IT and BPO companies that operate in Sri Lanka, mostly small and medium companies and few large global players. Among the several leading global IT/BPO companies operating in Sri Lanka include HSBC, WNS Global Services, Microsoft, Motorola, Industrial & Financial Systems (IFS), Amba Research, RR Donnelley, Virtusa, Millennium Information Technology and Innodata Isogen.

 

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