BPO industry to reach US$ 100 b mark

Shirajiv Sirimane

The global BPO industry will reach the US$ 100 billion mark by 2010 and Sri Lanka too could take a major share of this market.

Director of Strategic Development, The Chartered Institute of Management Accountants (CIMA) Rick Sturge, who was in Sri Lanka last week for the Achievers Education Institute awards ceremony said India would account for around 30 per cent from this market and China 15 per cent.

"Sri Lanka has a good chance of taking one percent of this market which would be very productive," he said. He said the geographical advantage and high literacy rate are some of the key plus points for Sri Lanka.

In addition the advanced technological solutions offered also makes Sri Lanka a very exciting destination for the BPO industry. He also said that accountants play a vital role in development and the United Nations had invited accountants to get involved in re-building era.

"Their assistance was also sought from several African countries and Egypt requiting to play a key role in development," he said.

He noted that one might be surprised to note that over 50 per cent of accountants work in non-financial institutions.

CIMA is a leading membership body that offers an internationally recognised professional qualification in management accountancy, which focuses on accounting for business.

Sturge also said there are over 18,000 vacancies for accountants that need to be filled urgently. He said quality people come through the local CIMA education and they can fit into any post anywhere in the world.

There is a growing demand from Philippines, Vietnam and Brunei to open more CIMA certified training institutes in those countries. "This shows that the demand for CIMA is on the rise," he said.

A Visakhian student who excelled at the Achievers Education Institute in CIMA programme said that CIMA people make their pathway beyond accountancy by using finance skills to focus on future success rather than past performance and they are helping to drive the worlds top organisations.

"The commercial sector is rapidly expanding globally with no boundaries and the role of the management accountant has become indispensable," she said.