Offshore Outsourcing On The Rise After Recession : Report
Offshore Outsourcing Increasing After Recession, Says Report A report released by the Everest Research Institute has revealed that the outsourcing market is picking up as the global economy crawls out of recession. Anand Ramesh [CQ}, research director at Everest told that the offshore outsourcing business that was in the pipeline, but was out on hold due to lack of finance is now getting active again.
Ramesh added that the customers in the U.S. and other markets are now more concerned about cost reduction, so they are planning to offshore more of the work that they used to outsource to suppliers in their countries. Ramesh noted that companies that have never used the services of offshore workers are also now planning to outsource to low-cost locations like India and the Philippines. Ramesh said India is emerging as the leader because it has established itself as a good outsourcing point.
The Everest report said that many companies are eager to expand offshoring without wasting much time and they are planning to do it in an aggressive manner. The companies that currently send IT services and business process outsourcing (BPO) work were surveyed by Everest. Sudin Apte [CQ], principal analyst at Forrester Research, also said the same thing and said that the offshore outsourcing is set to pick in the coming months.
Apte added that the expansion in business is pushing up the demands for new staffs in India and they have started hiring again. Apte noted that the staff attrition in India is likely to go up to over 15 percent in the current quarter.
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