Outsourcing involves tying together organisations in different geographical areas and in different time zones through application of smart technology devices and efficient business processes.
Cost saving through accessing cheap labor that had been the initial magnetising factor has now been replaced by the need for global expansion to maintain a competitive edge. Cost has now become a secondary factor in determining the outsourcing decision. Availability of a global talent pool and latest technologies in some developing countries is now driving the outsourcing decision.
Outsourcing has worked as a two- way opportunity. On the one hand it brings the benefits of bringing new technology at a lower cost to the local customer. At the same time it creates a lot of job opportunities in the developing countries that leads up to increasing their standard of lives. This certainly is a win-win situation.
May 07 2017 0Comment