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Outsourcing facts from Outsource2india


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Outsourcing has been in the news off late, and we have been hearing quite a lot about it over the past few years. Despite the recent hullabaloo, are you aware that outsourcing is not new to men, and was started way back in 1970s? If you want to know some interesting facts and statistics on outsourcing, read Outsourcing Facts by Outsource2india.

Published in: Business, News & Politics
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Outsourcing facts from Outsource2india

  1. 1. Outsourcing Facts The pioneers in outsourcing
  2. 2. Outsourcing started in 1970s , with specialized machinery being the oldest thing to be outsourced. Source: Business Week
  3. 3. The term Business Process Outsourcing (BPO), was coined in 1989 , in a research report by Mark Hodges. Source: Beep Tech
  4. 4. According to Peter Drucker, father of outsourcing: “A company should be engaged only in the front room activities that are core to supporting its business. Back room activities should be handed over to other companies, for whom these are front room activities.”
  5. 5. By 2008, India claimed 65% of all offshored IT work, and 43% of other BPO work. Source: The Economist
  6. 6. By 2011, India’s share in the global outsourcing industry reached 58%. Source: Nasscom
  7. 7. India dominates the outsourcing scenario with a workforce of over 1,430,000,000 skilled personnel. Source: Tasks EveryDay
  8. 8. Six out of ten leading cities for offshoring are Indian, according to “The Handbook of Global Outsourcing and Offshoring”. Source: The Economist
  9. 9. Top 5 outsourcing destinations in India are - Bangalore, Mumbai, Delhi (NCR), Chennai, and Hyderabad. Source: Tholons
  10. 10. Percentage of CFOs in USA who favored India for outsourcing in a 2012 survey is 24%. Source: Statistic Brain
  11. 11. Labor cost is a key driver for outsourcing, but costs in foreign countries are increasing compared to the US. Source: 2012 Survey from Duke’s Fuqua School of Business
  12. 12. Outsourcing will be a $483 billion global industry (approx.) in 2013. Source: Plunkett Research
  13. 13. 1 out of 2 businesses to outsource to a remote service provider by 2020. Source: CloudProvider USA
  14. 14. And finally, there is the funny story about a man who outsourced his own job to China. For a fifth of his salary, he had a team in China doing all his work while he enjoyed his time back home. Is that laziness or creativity, you decide! Source: Plunkett Research
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