If you are contracting or even sub contracting your job to another company that means you are indulging in OUTSOURCING.
Offshoring of only helps you to cut the cost of operations but also to make optimum utilization of the resources from across the globe.
India has many reasons to be considered as an Outsourcing destination which are as follows:
- Services offered at reduced cost..
- A pool of highly educated population.
- Reasonable Time Difference.
One of the biggest Advantage that company who outsource have, is that they can focus their skills and resources on their core competence whereas the less essential task are being taken care by there outsourcing partner at a relatively low cost.
There are many types of outsourcing, business process outsourcing Business Process Outsourcing, information technology outsourcing ITO, Human resource outsourcing, Knowledge Process Outsourcing, Legal Process Outsourcing. Etc..
There have been many voices against outsourcing mostly because of the job losses during the recent downturn of the Economy. Even the US President Barrack Obama has talked about bringing Anti-Outsourcing Laws so as to curb outsource. However, the industry analyst say that such steps will be counter productive and would help the US companies in the long run.
There are many other challenges which the outsourcing Industry is facing like cloud computing, High attrition, demand for higher salaries, higher operational cost and data securities issues.
It will be interesting to see how the turn of events unfolds before outsourcing industry and would it be able to survive the challenges.
PS: If you are an outsourcing professional to claim your free membership on BPO voice. Network for Outsourcing Professional. Click on BPO Industry