The year 2009 was somewhat a damp-squibb for offshore outsourcing industry since the global financial tsunami had crippled most business sectors across all countries of the world. However, it’s interesting to note that software outsourcing is witnessing an augmented activity as the global economy is recuperating post recession.
A study done by PricewaterhouseCoopers unravels the fact that offshore outsourcing has roared back to life post recession and is gaining momentum remarkably, driven by the cost benefit aspect.
The study done by Everest Research institute, the research arm of the Everest Group, has unleashed the fact that many companies, which had not taken a plunge in offshore outsourcing business until now are planning to try out offshore outsourcing aggressively to leading outsourcing locations like India, China, Philippines. Even Romania has made its entry into the game for outsourcing now. According to Mr. Anand Ramesh, Research Director at Everest, “More concerned about cost reduction after the recession, customers in the U.S. and other markets are planning to offshore more of the work that was earlier being outsourced to suppliers in their countries.”
Mr. Sudin Apte, Principal Analyst at Forrester Research, also voices the same opinion that as offshore outsourcing has picked up after the financial tsunami has subsided, this has given the impetus to hiring of new staff in India to meet the outsourcing requirements.
Software outsourcing hogged the limelight in all the debates during and post recession and has emerged as the most viable solution to combat global crisis through its cost-effective, quality-backed IT solutions. Global collaboration is the call of the hour to tap the true potential of software outsourcing. As the existing IT talent pool in the U.S., U.K. etc. is not enough to accomplish the IT needs, software outsourcing is the only way to address all such overwhelming IT software development requirements.
Also, countries such as India, China, Malaysia, Philippines etc., have carved a niche for themselves on the global outsourcing map owing to the superior quality software they’ve delivered at most affordable rates. India tops the list of outsourcing destinations occupying around 80-90% of the global offshore market.
So it’s time to be optimistic and hope that software outsourcing gears up further post recession!