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                                                                   - John Chambers, CISCO Systems

 

Why Outsource?

Over the last few years, business process outsourcing has changed the way the world does business, and this trend is only likely to accelerate:
Business Process Outsourcing is now the fastest growing segment within IT services. By 2007, that offshore BPO will account for 14% of the total BPO market, compared with only 1% in 2003. (Gartner)
The global market for outsourcing is estimated to grow at an annual rate of 7 percent to 1.2 trillion dollars by 2007. (IDC)
73 % of U.S. executives interviewed said their companies presently outsource one or more business processes to external service providers (Price Waterhouse Coopers)
84% of large company CEOs are satisfied with their outsourcing experience (Yankelovich)
Market perception has shifted from outsourcing as a way for companies to meet short term financial objectives to a technique for strong companies to improve competitive positions (Gartner Group)

Outsourcing is a strategic tool that can have a powerful impact on your company's growth and financial stability. Business experts agree that outsourcing is essential for a company to prosper in the 21st century.

Would your organization benefit from having a technology and skills advantage over your competition whilst at the same time reducing development schedules? Possibly you have a product to develop and you've got to get it to market before your competitor does. Perhaps you just wish to enhance your business without capital investment in software development.

Business Process Outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that in turn owns administers and manages the selected process based on defined and measurable performance criteria.

BPO has proven to be an invaluable tool in reducing operating costs and boosting profit margins while maintaining a high quality of customer support in a seamless manner. The model is completely scalable and can allow companies in any vertical to fine tune resource allocation as business conditions change.

The common factors that motivate companies to outsource business processes are:
Factor Cost Leveraging
Superior Skill Sets and Job Execution
Economies of Scale
Business Risk Mitigation
Efficiency Improvement

Availability of a highly qualified talent pool and faster adoption of well-defined business processes leads to higher productivity gains without compromising on quality.

So far larger companies in verticals like Insurance, Credit Cards, Pharmaceuticals, Airlines, and Telecom etc. were the ones to benefit from BPO. However, as consumers in every industry demand cheaper goods yet better service, outsourcing is becoming a desperate need for mid-size and smaller companies too.
• Source: Gartner Definition



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