Look out for Top Outsourcing trends in 2021!
August 3, 2019
The third wave of IT outsourcing is expected to sweep the world post-Covid 19. According to a report, Marquee financial services house, Goldman Sachs said , "Post Covid-19, we expect a third wave of outsourcing and an increasing number of technology roles globally finding their way to India as work from anywhere becomes the new accepted norm".
As per various global surveys, several top firms are planning to have several of their employees work from home for ever, and in a recent expert call with McKinsey, it is noted that most large IT contracts have as high as 75 percent of employee working from home.
TCS is planning to have 75 percent of its workforceShifting to “Work from Home”by 2025 estimated and TechM is gearing for 25-30 percent of its employees working from home by 2021 estimated on a rotational basis, Goldman Sachs said.
All this points out to the conclusion that outsourcing is going to grow exponentially in the times to come. So, what exactly is outsourcing and how do global companies generate profit through it.
What is IT Outsourcing and How it benefits the Organizations?
IT Outsourcing refers to the concept where you allocate work to another agency that charges you and does your work efficiently by sitting in a remote office. This saves the organization the infrastructure costs and also the hiring responsibilities. In addition, because of currency difference, you tend to hire more people in less budget which gets you a virtual team saving 55-60 %of your capital. Outsourcing is a tried and tested method by global enterpreneurs to achievebusiness scalability while adhering to strict quality measures. On one hand, it cuts down substantial business costs, on the other, it provides you global workforce at your disposal to use to your advantage. This becomes a blessing to scale up the business while the owner can still focus on other important areas of business.
Here is how outsourcing some of the company’s day-to-day operations – often referred to as back-office work or non-core activities – may prove critical to the success of a growing business. Outsourcing specific tasks, like payroll management, HR functions, accounting data entry management, data entry services, data analytics, image editing, Digital Marketing, data processing etc. can go a long way in assisting business owners achieve their goals, reduce overhead costs and ensure that their in-house team focus on their core competencies.
By outsourcing necessary but tedious tasks such as bookkeeping, tax return processing, auditing, and year-end financial reporting, data management, PDF conversion services, PDF to excel/word data entry services, eCommerce product upload and data entry services, content writing services, SEO services etc., entrepreneurs can focus on what they know best. This is in synchronization with the famous saying that goes like this “Do what you do best and outsource the rest".
This very precisely defines the impact of outsourcing on businesses.
Types of IT Outsourcing: IT Outsourcing involves an array of tasks which can be categorized as follows:
- Voice process Outsourcing
- Non-Voice IT Outsourcing:- Non-Voice IT Outsourcing can further be classified as:
- Technical Outsourcing includes Website and App development, Software design and development, Image editing and processing, etc.
- Non-technical IT outsourcing involves tasks like Data Entry Services, PDF conversion services, Accounting management services, HR services, Data Conversion Services, transcription services, etc.
While voice process is specially needed for client service, non voice processes offer great flexibility and can be used for even the slightest task like excel data entry. Global Market sharing of outsourcing is expected to grow in big number in the coming decade. The previous two decades showed remarkable rise in outsourcing
Why is Outsourcing IT Services accepted by big Giants?
Outsourcing saves time and gives the business the time to scale up effectively. The top reasons why India is the preferred outsourcing destination globally is as follows :
- Abundant talent pool available
- Availability of the largest global workforce in the age group of (25-45)
- Low currency rates make it cheap
- Good IT Infrastructure
- Skilled workforce
- Hard working people
With the largest available workforce, the working age group (25-45), India is destined to play a big role in IT outsourcing globally. With the advent of schemes like Skill India, Start up India, Digital literacy in India has grown unexpectedly in the last decade. It would not be an exaggeration to say that that India has one of the most influential and skilled workforce at its disposal. The need of the hour is to recognize that and the world does not a better outsourcing destination than India. In the long term, the enterpreneurs can rely on the hard working Indian IT professionals for their business growth. There are companies in India that are looking for opportunities to assist global companies in their endeavour to succeed and scale the IT business.
How to choose a reliable outsourcing Agency for your business?
Having said all the advantages of outsourcing and role of India in the global market, Choosing a reliable outsourcing partner is an uphill task in the beginning. Here are a few things you should keep in mind to find a reliable and long term outsourcing agency:
- ISO certification: ISO certification for Quality Management ensures that the organization has bandwidth and infrastructure to do quality work. It adds a certain degree of credibility to the organization.
- A quality team of professionals: Always look out for a company that has qualified professionals. You must have people talking to you and comfortable in English. It always better if the company offers a dedicated project manager to look after your project.
- Robust quality check process: Quality check is most important as you always wat the work done with minimal or no correction. When you outsource works like data entry services, there are always chances of having any typing or system error. These errors can be eliminated if the agency has a separate QC team. The outsourcing agency must have a separate process of QC where the data entered is checked. It will ensure that 99.9 % times, there is no scope of any error which is what you would like to have. So always go for the outsourcing agencies that have these process even if they are a bit costlier than others.
- Prior experience: This one is very important. The outsourcing agency should have prior experience in delivering quality services to International clients. You can read their google reviews and ask for a few reference clients too.
- Run a Pilot Project: Last but not the least “ Action is better than thousand spoken words “ Go for a pilot project with the agency for a week or a month and you can see their quality of work, consistency, and communication process with in that time. That gives you all the information you need to then commit for long term relation with the agency or find another one.
The above-mentioned points would surely help you in choosing a reliable offshore IT outsourcing company for all your tasks.
Hire Aumtec Solutions : One stop solution for all IT outsourcing Services
Aumtec Solution could be your one-stop agency for multi-process IT outsourcing services. They offer services like data processing services, data entry services, data deduplication services, data mining services, data analytics, data science, eCommerce services like product listings, data feed management, marketplaces data upload services, Digital marketing services, SEO services, and much more. With Aumtec, you get a qualified and experienced team of professionals for each service and you get value for money. In addition, you can hire virtual assistants at a very affordable cost. For any inquiry, write at firstname.lastname@example.org