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India’s outsourcing giants cut hiring; disheartening for economy, students

Bookkeeping   /  

It can be tough to outsource work to an Indian service provider if you don’t understand how the sector works. If the country you outsource to is experiencing strong economic growth and costs and wages are increasing, this could also see pricing increases when it comes time to renew your contract. Having the right contract terms with your Indian outsourcing partner can help mitigate these risks.

  • The availability of skilled professionals is another reason why companies choose to outsource to Indian service providers.
  • With their 100% on-time project completion rate at the right prices, they earned the trust of global clients across North America, Europe and Australia.
  • With outsourcing, companies are given the flexibility to scale up or down quickly as their current project requirements demand.

Whether it is technology, marketing, business or analytics, you will find skillful talent in India. With a limited scope, you might start to appreciate the frogs in the well. Once you expand your horizon, you’ll start identifying the talent hidden in far corners.

Outsourcing red flags: Signs you need a productivity intervention

We will also discuss the major advantages and challenges of offshoring to India. India has become one of the most sought-after offshoring destinations in the world, even outranking some countries in Latin America and Eastern Europe. Despite the fact that most people in India speak English, there are other cultural parameters that come into play when outsourcing to the region. Moreover, India is 70.7% cheaper than the United Kingdom and 64.4% cheaper than the United States in terms of its cost of living.

  • IT is one of the top industries in India, and the Indian government has favorable policies that make the country an excellent investment and offshoring destination.
  • The history of outsourcing to India can be traced back to the 1980s when multinational companies started setting up their back-office operations in the country.
  • There’s still a lot of untapped talent in India, but finding someone with the exact skill set you need can be difficult, especially when it comes to legacy technologies and highly specialized knowledge.

If you are also thinking about outsourcing to India, you may be wondering about the pros and cons that come with business process outsourcing (BPO) and other forms of offshoring. The contract should define the rights and obligations of both parties, including the scope of services, timelines, payment terms, and provisions to address potential legal disputes. It is crucial to have a legal expert review the contract to ensure that it is enforceable and compliant with relevant laws and regulations. To meet their aspirational goals, you will need to develop performance metrics to apply to them that unlock benefits.

Continuous learning and specialization have given India domain-specific expertise. Professionals are involved in their industries, improving their talents and remaining current. When outsourcing IT projects to India, you’re hiring a team of domain experts. Their knowledge of market trends empowers you to make informed decisions. You are not venturing into uncharted territory; rather, you are joining a long line of contented businesses that have garnered the benefits of outsourcing to India.

Recruitment Process Outsourcing

Carry out a comprehensive study to understand the viability of outsourcing to India for your specific services or products. This research should include cost analysis, understanding the Indian market, identifying potential outsourcing hubs within India, and assessing the quality of work. A well-conducted study will inform you about potential cost savings and help identify the best regions in India for your outsourcing needs. An application that runs smoothly and keeps users happy requires regular updates and maintenance. Recognizing this need, numerous Indian outsourcing companies provide comprehensive after-sales support and ongoing maintenance services. For instance, outsourcing may occur when a company chooses to have an entire mobile app development project, or just segments, completed by an external specialist firm.

The amount that you can save by outsourcing to India versus hiring locally depends on the task you are hiring for. This takes into consideration salaries and benefits, overhead, and equipment. If you require special software and are paying lower hourly rates, most freelancers will not agree to pay for the software. You can actually hire anyone these days who has the ability to work online. Our whole team, actually, almost exclusively consists of freelancers we’ve hired from the Philippines. SEO is really technical, and India has a long history of focusing on technical skills.

Whether it’s product engineering, complete digital transformation, or IT outsourcing to India, it has become the leading destination. While other countries have their strengths, India offers a versatile buffet of services – from IT to customer support, and even niche sectors like BPOs and backend tasks. The outsourcing industry in India is one of the most sought after by the world’s biggest brands. By contracting out a few processes to a third party, a business can focus its efforts and resources on core activities. India outsource market solves capacity issues, enhances the quality of service, and helps in efficiently managing the business environment. Outsourcing to India was initially a step undertaken solely to reduce costs.

Improved efficiency and productivity:

This chart shows the importers of Indian IT services by country/region in FY2019 (in percent of revenue). Reliable infrastructure is essential to ensure no unnecessary interruptions to your business activities. 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.

What is outsourcing?

Now, the competitive landscape, agility and innovation, and availability of skilled talent are important factors that compel businesses to choose outsourcing in India over other countries. If you are looking for a reliable and skilled outsourcing partner in India, consider contacting GraffersID. Contact GraffersID today to learn more about their outsourcing services and how they can help your business succeed. Data security and privacy have become critical issues for businesses worldwide. In the future, we can expect to see more outsourcing firms in India adopting advanced data security and privacy measures to protect their client’s sensitive data.

Artificial Intelligence enables businesses to automate the majority of their tasks and deliver an unmatched experience that is data-driven. It can also help reduce the errors and bottlenecks in processes to streamline operations and optimize experiences. There is a misconception that outsourcing to India would mean a lot of challenges in communication.

Flexibility in Operations:

The Indian mindset is hierarchical because their society is hierarchical. An Indian hire can quickly lost motivation if not given opportunities for advancement. If you have a flatter operating structure, you may want to adjust for your Indian team to keep them performing well. The reason when does a negative cash balance appear on the balance sheet why we so highly recommend hiring from the Philippines is because they have the best scores in the areas we mentioned above. Sometimes, they can be higher, but this is because you get better quality. Outsourcing software development to India is probably the most well-known of all.

Growth in non-IT outsourcing services:

Companies in the United States, Australia, Europe, United Kingdom, etc., can leverage the time zone difference that they have with India. The four to eight hours time-zone difference can be used to get round-the-clock work. For all those who are planning to outsource, you can Download our Software Development Outsourcing Guide and read it on the go! Check out the guide and find answers to all your questions about outsourcing software development. The Philippines’ strength lies in voice-based support services rather than STEM skills because of their English-speaking competency. It is true, however, that India did lose out on some BPO market share to the archipelago.

From cryptocurrencies to cybersecurity to AI, ML, or data science, companies would be looking to get the best talent to build products with such functionalities. Businesses have varying talent requirements across any particular project. They might need a full team of developers at one time and just a single person at the other. Moreover, you might need technology experts for performing specific tasks in your project at times. They might need to scale the team up and down as per the project’s requirements.


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