Why they love India
If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business. Lee Kuan Yew
Outsourcing. You may love it or hate it, but you cannot avoid it. Global businesses, in their search for their core competencies, are finding out ways to bring out the best in them in the most efficient way. The practical outcome of focusing on core competencies has been an acceleration in outsourcing.
The author of “World is Flat”, Mr. Thomas Freidman, says that world has essentially become “flat” due to advances in technology which has leveled the playing field for developed and emerging countries. In essence, the globalization of business via outsourcing has opened the opportunity for all nations to be equally competitive.
The Business Process Outsourcing industry is expected to grow at a rate of more than 20% over the coming years, which shows the impact this industry has on the world. In the future, the BPO segment is expected to employ over 1.1 million Indians, according to studies conducted by NASSCOM and leading business Intelligence company, McKinsey & Co. Market research shows that in terms of job creation, the ITES-BPO industry is growing at over 50 percent.
Though India started off as a haven for call center services like technical support, it has refined itself over the years by providing numerous other crucial services like software development, new product development, IT consulting, and R&D support. A study by global IT research firm Gartner shows that the Americas and Europe are the largest customers for the Indian outsourcing industry and account for 60 percent and 31 percent respectively of IT and BPO exports. The largest vertical sectors are financial services (41 percent), high-tech/ telecom (20 percent), manufacturing (17 percent) and retail (8 percent). In fact, studies confirm that India as an outsourcing partner has reinvented itself with 31% of the respondents confirming that India has a good understanding of the client’s businesses and processes while 21% feel that India provides them talent and services that cannot be found in their organization.
India has been phenomenal in proving to the world her project management skills, timely delivery and top class quality. With 65% of the world’s CMM Level 5 companies and one of the world’s largest pool of scientific and technical talent, India is the logical choice for outsourcing.
Interested in outsourcing your key development and support areas? Look no further than Suyati Technologies’ Dedicated Global Team (DGT), which promises to help companies create an extension of their technical team in India – minus the risk and headaches.