The Business process outsourcing (BPO) sector has become an essential emerging sector of Sri Lanka’s economy. Sri Lanka ranked 23rd in the 2021 Kearney Global Services Location Index—Toward a global network of digital hubs Report which measures countries’ capacity to deliver services via financial attractiveness, people skills and availability, business environment, and digital resonance. This strengthens Sri Lanka as one of the preferred emerging digital hubs.
More than 300 IT companies operate in Sri Lanka and the IT-BPM sector offer BPO company vacancies in Sri Lanka and directly employ more than 80,000 professionals. (Source: Slasscom)
Composed of both small and medium companies and few large global companies, some of the key IT-BPO players are from renowned Multinational BPO and KPO centers, Investment research companies, financial analytics, and Accounting, Legal Services, IT services and solutions. (Source: Kearney)
Among the several leading global IT-BPM companies operating in Sri Lanka and offering BPO company vacancies in Sri Lanka include CMA-CGM, HSBC, WNS Global Services, Aviva, Microsoft, Industrial & Financial Systems (IFS), Copal Amba, RR Donnelley, Quatrro, Virtusa, Pearson, Valista, Millennium Information Technology and Innodata Isogen. (Source: Outsourcing Journal)
The website export.gov indicates that the information technology and business process outsourcing sector in Sri Lanka tripled exports and doubled the workforce in a little over five years. The sector grew by 120 percent over the past five years making it one of the highest growth areas in the economy and the fifth largest export segment. Sri Lanka’s IT/business process management sector envisions $5 billion in revenue, 200,000 direct jobs, and 1,000 start-ups by 2022. (Source: Export.Gov)
According to services exports data for 2020, which were finalised recently, Sri Lanka is estimated to have received US$ 971 million from Information Technology services such as business and knowledge process outsourcing carried out for offshore clients, mainly in the West. This is an 8 percent increase from US$ 899 million in 2019. (Source: Daily Mirror LK)
Sri Lankan IT-BPM companies that offer BPO company vacancies in Sri Lanka have gained recognition from potential customers and investors for their competitive costs, English-speaking population and high quality and educated workforce with developed technical skills in fields such as Accounting and Knowledge Process Outsourcing.
Cost-Competitive Advantages
According to the World Bank, Sri Lanka has relatively low labor costs compared to other BPO destinations. (Export Gov)
The average wages in Sri Lanka, at around $1,500 per year, are in the same range as Bangladesh, India, and the Philippines. (Kearney)
High Quality And Educated Workforce With Developed Skills
Currently, the country produces around 7,500 graduates and around 2,500 persons with other qualifications related to IT/BPO sector. (Unoov) These graduates are equipped and ready to fill in available BPO company vacancies in Sri Lanka.
In 2019, adult literacy rate for Sri Lanka was 92.3 %. Though Sri Lanka adult literacy rate fluctuated substantially in recent years, it tended to increase through 2006 – 2019 period ending at 92.3 % in 2019. (Source: Knoema)
More IT-BPO providers have adapted to the digitization of the workplace. A number of BPO company vacancies in Sri Lanka are available for the emerging IT-BPO industry.
