Market for knowledge based professional services

Ramani Kangaraarachchi

Knowledge-based professional services marketed directly or through off shore back office operation offer high growth market opportunities. Export Development Board (EDB), Industrial Services and Products Sector Head Chithranjalee Dissanayake told the Daily News Business that overseas, employment of both unskilled and skilled Sri Lankan workers is a major foreign exchange earner at present.

There are number of business and professional services that are either exported at present or could be exported from Sri Lanka.

They are direct exports such as software development for client needs, entry services printing, accountancy, engineering, educational and architectural services.

The indirect exports, (home based) include ship repair services, bunkering services, courier services, stock brokering (on line transmission) film location services and tourism related services.

“There is scope for value addition to certain manpower services that are exported. As such EDB considers promoting professional services as of paramount importance,” she said.

These services are being produced in the locations that are able to deliver highest quality products at the lowest cost. Sri Lanka has a competitive edge over advanced economies due to the availability of relatively cheap labour.

However, competitiveness of companies exporting services in developing economies such as Sri Lanka depends mainly on several factors.

Some of these factors are credibility of professional services offered, visibility of those services, ability to solve problems, develop modalities, design and deliver services of high standard within a short period meeting client expectations.