But as the pie expands, India will be hard pressed to maintain accounting transactions its 51 percent market share, which we expect will drop to around 40 percent by 2020 unless Indian providers become more innovative and global. “In fact, a lot of Eastern European and Latin American heritage companies are expanding their India talent pool a lot more. So is the case with IT/BPO captive centres set up by large corporations,” says Apurva Prasad, IT Analyst and Vice President (Research) at Elara Capital, as further proof of India’s IT standing. India, like the Philippines, has been a lucrative outsourcing destination for hundreds of companies, including Silicon Valley powerhouses such as Google. In today’s world, the only way to reduce overhead and increase profits is to outsource.

The largest talent pool of professionals

Outsourcing to India allows multinational companies to fill talent gaps in their software development and web development jobs. Making the mistake of partnering with the wrong outsourcing services provider can add up to more expenses. When outsourcing, you might lack the assurance of how your service provider handles your data, which risks your data security. These advantages discussed above serve as the country’s competitive edge against any other preferred outsourcing destination out there. Outsourcing to India gives companies and clients access to a vast pool of young and seasoned talents. However, the country still manages to be recognized as one favorite outsourcing destination of multinational companies across the globe.

Taylor isn’t alone in looking to tap into overseas labor — where the average compensation for tech jobs is often far lower than in the US. The Society for Human Resource Management has a hybrid remote work policy that allows employees to work from home on Friday and Monday, a company spokesperson told Insider. That’s what happened when an employee at the Society for Human Resource Management who wanted to move states suggested that she could work remotely, the company’s CEO, Johnny Taylor Jr., told the Journal. While the ebb and flow in the demand for IT talent is fairly cyclical, the pandemic has a beginner’s guide to the accounting cycle brought into sharp relief the need for organisations and their workforce to upskill pronto.

What Makes the Philippines a Global Leader in Outsourcing Solutions

1. Some outsourcing tasks, such as customer support, require dedicated technology and infrastructure.
2. Most of our companies in China have not been able to scale up their centres because of the geopolitics, the regulatory environment and the language barrier.
3. Its English-speaking population of 125 million is expected to quadruple in the next decade.
4. Its software developers leverage cutting-edge technology, software, and infrastructure to gain a competitive advantage.

Infosys Chief Operating Officer Rao, in the earnings call mentioned earlier, also categorically ruled out going talent hunting for its India centres in Eastern Europe or elsewhere. “I don’t see any other country being able to provide such kind of talent with scale,” he said. “While India still leads as a favourite destination for sourcing, there are other countries that are fast becoming emerging locations,” says D.D. Infosys Chief Operating Officer U.B. Pravin Rao is retiring on a baffled note, it seems. Only 55% of respondents reported that their production moves had met their objectives in improving unit costs, shortening lead times, or achieving sustainability goals.

Focus on the core business competencies

Verify the quality standards and certifications of the companies to see if they follow best coding practices. Look for certifications such as ISO, CMMI, or industry-specific accreditations that show their dedication to quality and adherence to global standards. Besides, India prides itself on its state-of-the-art IT infrastructure and 5G band connectivity, making IT outsourcing in India a seamless experience for companies across the globe. Communication is the core of successful project outsourcing, and sharing a common language is the key to seamless communication. India’s economy is future value fv definition growing rapidly, and its advanced infrastructure incorporates cutting-edge technology in all sectors. India’s GDP is now the fifth-largest in the world, surpassing the UK, France, Canada, Russia, and Australia, with a value of $3.7 trillion.

In India, the IT sector and BPO/call centers are at the forefront of outsourcing, with the accounting and finance industries also playing a significant role. Indian professionals excel in utilizing project management tools effectively to ensure timely delivery and efficient resource allocation. Quality services provided by the country’s skilled professionals primarily attract companies to choose India for their outsourcing needs. A typical outsourcing firm offers excellent services for an affordable cost provided by a young, diverse labor pool of dedicated employees. Infosys is a popular service provider that mainly offers digital business solutions.

BOSTON—Five years of disruption marked by trade wars, the pandemic, geopolitical tensions, and severe supply bottlenecks have profoundly redrawn the map of where global companies manufacture and source goods. A new report released today by Boston Consulting Group (BCG), titled Harnessing the Tectonic Shifts in Global Manufacturing, underscores the magnitude of these shifts. An insider’s view on why remote and offshore staffing is radically changing the future of work.

If successful, such efforts could contribute $100 billion to $130 billion in export revenues to India’s offshoring industry by 2020, expanding its global market share to almost 60 percent. Eastern European nations, especially Ukraine, Poland and Romania, are featuring a lot in discussions on high-end software development, several experts concurred. Ukraine and Poland are the two Eastern European countries where high-end software development is going on,” says Jigsaw Co-founder and CEO Gaurav Vohra. The e-learning platform offers digital training to 30-odd firms, mostly in IT, retail and banking.

Because of this, clients are sure their outsourced employees will be using the latest and best in software technology. However, you need to carefully chalk out a plan before partnering up with any Indian outsourcing service provider. Conduct in-depth research about the industry and the companies we covered here to get a head start. Communication plays a vital role in ensuring that your outsourced project is on track. You need tools that help you communicate project demands and progress to your remote teams. Tata Consultancy Services (TCS) runs one of the biggest outsourcing firms in India.