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Why Offshore Outsourcing Still Remains The Best Bet for American and European Firms
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Why Offshore Outsourcing Still Remains The Best Bet for American and European Firms

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Offshore Outsourcing is around 10 Years old phenomenon which came into the picture due to cost-cutting at the center stage.

Offshore Outsourcing is around 10 Years old phenomenon which came into the picture due to cost-cutting at the center stage.

Published in Business , Economy & Finance
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  • 1. Why Offshore Outsourcing Still Remains The Best Bet for American and European FirmsOffshore Outsourcing is around 10 Years old phenomenon which came into the picture due tocost-cutting at the center stage. American and European firms have started this trend for short-term solutions and receive the same benefits. And 10 years later, offshore outsourcing serviceshave become basic need of these firms, instead of being just about cost reduction concept.Industry trend confirms that offshore outsourcing business is rapidly growing with a healthyrate of 30% and becoming a necessary revenue and growth plan for almost every existingorganization. Specialization and innovation of emerging markets like Indian IT market isbecoming more and more striking for the outsourcing industry.In the practice of offshore outsourcing, firms of developed countries including American andEuropean firms, request for IT-related work to the politically stable countries like India andChina. By importing such work from these countries, these firms can gain lower labor costs,quality work, and/or tax savings benefits. In addition, Offshore Outsourcing Services provideroffers lots of other benefits in much affordable cost like more efficient and effective services intimely manner, access to high quality employees, maximum flexibility with workforce and muchmore. Offshore Outsourcing will always remain the best bet for American and European firmsdue to high labor cost as this way has a proven record to improve productivity at lower cost.Offshore outsourcing has completely changed the nature of modern industry and companies aregrabbing the opportunity and benefits it offers. Let’s see the main powerful factors of offshoreoutsourcing:Acquisition of Exceptional Knowledge: This is one of the most important factors ofoutsourcing a project. When a company needs technical skills to perform a job and they do nothave the same expertise, and the company does not want to hire a fulltime employee, at this pointof time they look for experienced people from the foreign market. In such cases, companies justchoose an offshore outsourcing service provider to fulfill their requirement.Need of Short-Time Workers: Many times, employees of a company are involved in bigprojects. And if there is any requirement for short-term project and company is reluctant to hirenew employees for a very short period, they rely on outsourcing firms in order to obtain skilledexperts.Risk Reduction: In current unstable economy, most of the companies are working on high risklevel. They want to reduce their employees often which become quite easy by engaging offshore
  • 2. expertise. However, it is not a very good decision to delegate all responsibilities to theoutsourcing firms but this system allows reducing risk in many cases.Save Time: When a company transfers its secondary important projects and functions to anoutsourcing, its management can give more time to the most important and core priorities. Thissaves valuable time for the management of the company.India is a well-known country for outsourcing work and has become major hub for softwaredevelopment worldwide. Indian outsourcing industry is not only beneficial for cost saving butalso helpful to provide brilliant brains to all over the world.