Analysis of the Datapath Ltd and Business Process Outsourcing Industry in Bangladesh

Abstract

The BPO industry is growing internationally as more companies outsource activities to benefit from low-cost and specialized offerings. Bangladesh attracts companies looking to outsource due to its fairly low labor costs and wide range of BPO services offered. The study also examines the growth of BPO in Bangladesh and highlight the challenges the industry has faced, including risks to data security and communication bottlenecks. The purpose of this research is to analyze the Bangladeshi Outsourcing market with a focus on Data-Path Ltd and to provide a comprehensive picture of an internship experience there. Outsourcing is a term used in business to describe hiring external service providers to undertake particular jobs or services. The industry has expanded significantly as a consequence of technological developments that have allowed companies to make use of skills and information from across the globe. The sector may be impacted by seasonality, external economic factors like exchange rates, and technological difficulties like automation and cybersecurity. Bangladesh's outsourcing market is impacted by the degree of political stability, rules and regulations, and entry barriers. The importance of industry characteristics like buyer and supplier power cannot be overstated. The study overviews July Business Services (JBS), a well-known 401k service provider in Texas, USA, and Data Path Limited, a Dhaka, Bangladesh-based outsourcing company. For JBS and other clients, Data Path provides various end-to-end retirement plan services, such as plan design, setup, operation, compliance testing, tax compliance, recordkeeping, and investment guidance. The 14 departments of Data Path, including sales, new business, distribution, ERISA, record-keeping, plan administration, reconciliation, and software development, are also highlighted in the paper. The research finds that Data Path has expanded significantly in recent years, adding over 400 individuals to its staff and increasing its clientele to become a big participant in the retirement plan outsourcing market. During the last four months of my employment with Data-Path Ltd., I gained a lot of knowledge about how the US retirement plan industry actually functions. Although it may be difficult to compare Data-Path Ltd. with other companies in Bangladesh, the skills and knowledge I acquired there will undoubtedly be useful in my future career.