BPM and AI synergy creating future-ready solutions: Akshay Chhabra – MD, One Point One Solutions
In an insightful conversation with Akshay Chhabra, Managing Director of One Point One Solutions, we gained valuable insights into his visionary journey, AI and the strategies that have propelled the company’s success.
Excerpt from an interaction:
Can you give me some details about One Point One Solutions? Where is it based? How big is the BPM business? How many employees? And which are the major industry verticals One Point One services? How old is the company?
Mr Chhabra: One Point One Solutions, headquartered in Mumbai, is a rapidly growing BPM services company in India. Initially focused on domestic process management and outsourcing services, it is now transitioning into an international process management and outsourcing services company. With a strong presence in Mumbai, Delhi, Bangalore, Chennai, and Indore, the company boasts over 5500 employees and offers comprehensive solutions across B2B, B2C, new-age digital business, and marketplace verticals. Handling an average of 200 million transactions annually, One Point One Solutions has established itself as a key player in the industry. Furthermore, the company is listed on the National Stock Exchange.
How have BPM services evolved over the past couple of decades (from being just a call center)?
Mr Chhabra: Over the past two decades, India has gone through a remarkable transformation in its Business Process Management (BPM) services. It’s been quite a journey! With top-notch infrastructure and a talented pool of IT professionals, India has become a global BPM hub, known for its technological prowess. Gone are the days of solely cost-focused services. Now, Indian firms are all about providing value-driven solutions, offering strategic insights and optimizing processes. They have even set up specialized teams in BPM centers of excellence, dedicated to research, automation, AI, and analytics.
The government has played a crucial role too, incentivizing BPM companies with tax benefits and skill development programmes. These initiatives have acted as catalysts, propelling the growth of the BPM industry. Today, India is renowned for delivering reliable, high-quality BPM services, making it a preferred choice for international clients seeking innovation and cost-effectiveness. According to a NASSCOM report, the Indian BPM industry raked in a whopping $44 billion in revenues, with a double-digit growth of 14% in 2022. And here’s the exciting part: client expectations from BPM services are rapidly evolving. Nearly half of the enterprises now see their BPM relationships as more than just transactions—they view them as strategic business partnerships. It’s a testament to the ever-changing landscape and the bright future of BPM in India.
How is artificial intelligence, particularly generative AI, being used in the BPM industry? Please share some examples.
Mr Chhabra: Generative AI, or artificial intelligence, has truly transformed the BPM industry with its wide-ranging applications. Let me give you a few examples. First, there are AI-powered chatbots that handle customer queries, providing quick and accurate responses, and thereby enhancing customer support. Then, there’s the power of AI in analyzing large datasets to uncover patterns and make predictions. This comes in handy for demand forecasting, inventory optimization, and creating a streamlined supply chain.
Generative AI models can even predict customer demand, enabling companies to optimize their production processes. Another exciting aspect is how generative AI techniques, like large language models, can process and understand human language. They can extract valuable insights from unstructured data such as emails and social media, helping companies make informed decisions and analyze customer feedback. Last but not least, generative AI plays a vital role in process optimization. By analyzing process data, it can identify bottlenecks and propose optimized workflows, boosting efficiency and innovation within BPM companies.
We have integrated generative AI into our offerings to provide optimal solutions for our clients, which optimizes the cost of our delivery, wherein we build win-win solutions for our clients and deliver best BPM services at optimal costs. This has resulted in good savings for clients and there is margin improvement for our business too.
What kinds of jobs in the BMP industry can now be done now or in the medium to long term using AI? How many people in the BPM industry would be engaged in such jobs?
Mr Chhabra: AI has truly revolutionized the job landscape in the BPM industry, creating a whole new array of roles while transforming existing ones. It’s fascinating to see how this technology has reshaped the workforce! Now, we have specialized positions like AI specialists, Data Scientists, Automation Consultants, and Cognitive Process Designers emerging in the industry. AI specialists are the experts who develop and maintain the AI systems used in BPM processes, ensuring everything runs smoothly.
Working hand-in-hand with them are Data Scientists, who dive into the vast amounts of data generated by BPM processes to uncover insights, spot patterns, and build predictive models. These two roles collaborate closely to harness the power of data and AI. Then we have Automation Consultants, who evaluate BPM processes, identify opportunities for automation, and design AI-based solutions.
They bridge the gap between the business and technical teams, implementing automation strategies that optimize processes. While it’s challenging to determine the exact number of professionals in these roles, it’s clear that as AI continues to advance and integrate further into BPM, the demand for skilled individuals in AI-related positions will grow. This shift will lead to exciting changes in job profiles within the BPM industry, placing greater emphasis on roles that require AI expertise and data-driven decision-making.
Which are the sectors/industry verticals for which BPM sector is adopting AI the fastest?
Mr Chhabra: In the Indian BPM sector, the adoption of AI is gaining momentum across various industry verticals. Notably, several sectors are rapidly integrating AI into their BPM practices. These sectors include Banking and Financial Services, Healthcare, Logistics, HR, Retail and e-commerce, Telecom and Communications, and Manufacturing. While these sectors stand out as frontrunners in AI adoption within the BPM industry, it is important to acknowledge that AI is being explored and implemented across various other sectors as well, with the shared goal of enhancing efficiency, productivity, and customer experiences. The future promises remarkable possibilities as AI continues to shape and elevate the BPM landscape across diverse domains.
Is One Point One Solutions reworking its hiring strategy/skill requirement, particularly due to adoption of AI?
Mr Chhabra: Throughout our journey, we have evolved and achieved remarkable success. Our hiring strategy has consistently aligned with the evolving needs and demands of our diverse clientele hailing from various industries. The adoption of AI represents the next progressive step for us, necessitating the demand for specialists with deep domain knowledge to effectively implement new AI-driven technologies. As the industry continues to evolve, we remain committed to staying one step ahead, meticulously planning our hiring activities to meet the specific skill requirements of each phase.
As part of our robust growth strategy, we are actively expanding our global footprint, with plans to establish a presence in the USA, UAE, and Australia. To facilitate this expansion and ensure our continued success, we have strategically recruited top professionals from esteemed organizations within the industry. These individuals bring with them a wealth of experience, having previously excelled at renowned companies such as Sutherland, TCS, Teleperformance, among others. Their rich expertise and extensive network enable us to forge valuable partnerships and secure new business opportunities. Additionally, in the domestic market, we are focused on targeting and pursuing value-added ventures that further enhance our portfolio.
We firmly believe that building a strong and talented team is paramount to our sustained growth. By combining our well-structured hiring strategy, the expertise of industry veterans, and our unwavering dedication to innovation, we are poised to thrive in the ever-evolving BPM landscape.