Strategic outsourcing could help business organizations adapt flexibility to business change. In addition, it could also boost productivity and quality, enables a firm to quickly respond to competition and penetrate new markets. Sourcing is no longer a short term quick-fix to achieve a lower cost. Global outsourcing uses a combination of offshore, onsite and nearshore solutions for strategic business objectives.
Global outsourcing is enabling an organization without barriers in a borderless world. As more and more companies are thinking global, their sourcing models have changed to follow suit. As clients get all the more demanding, the competition becomes more intense and product life-cycles shrink, there is a growing pressure on the operating margins. The global cross-border business management complexity presents new challenges as firms try harder to remain profitable, innovative and agile.
Worldwide sourcing takes a long-term holistic view of the customer enterprise and aligns the company goals to the outsourced service offerings, in contrast to the tactical short-term contracts. It mitigates risks for the client since it is not country-specific or geography dependent. Moreover, the process provides more flexibility and freedom when it comes to decision-making and operations. In addition, it also enables a business to adapt, learn, grow and evolve while making certain of the predictability in delivery and quality of processes.
Propelled by the introduction of sophisticated workflow automation, technologies and the changing client needs and challenges, this kind of outsourcing takes a modular approach to service delivery. Service providers have simplified processes through breaking them into cohesive modules or components that could then be distributed across geographies so work could be done faster, better and cheaper.
The global delivery model made this possible. The financial and banking services industry, IT, insurance, retail, telecom, healthcare, real estate, engineering and travel industries are some of the major fields that have utilized global sourcing to their competitive advantage. Services which are outsourced successfully by these fields include customer support, finance and accounting, R & D, product development and testing, manufacturing process support and other related processes. The decision to outsource is not country or location dependent. The work is done at a place that does it best and is most effective to deliver value in terms of price, resources and competence available.
The firm that outsources gains access to technological infrastructure and specialized knowledge of the vendors in various parts of the world. Nearshore solutions offer the benefits of linguistic ability, cultural compatibility and the same time zones. Offshore solutions from countries in other time zones provide access to certain skills, better quality and 24/7 service which provides a faster time to market. On the other hand, online solutions give the benefit of efficient transfer of knowledge and a comprehension of client requirements.
Moreover, Sourcing globally leverages a blend of the solutions to offer client best-of-breed services at the best price and flexibility. It also enables consolidation of operational efficiencies and services across borders. Transformational sourcing could result in huge leaps and innovation through optimizing and simplifying complicated systems for value added advantages.
Global outsourcing is enabling an organization without barriers in a borderless world. As more and more companies are thinking global, their sourcing models have changed to follow suit. As clients get all the more demanding, the competition becomes more intense and product life-cycles shrink, there is a growing pressure on the operating margins. The global cross-border business management complexity presents new challenges as firms try harder to remain profitable, innovative and agile.
Worldwide sourcing takes a long-term holistic view of the customer enterprise and aligns the company goals to the outsourced service offerings, in contrast to the tactical short-term contracts. It mitigates risks for the client since it is not country-specific or geography dependent. Moreover, the process provides more flexibility and freedom when it comes to decision-making and operations. In addition, it also enables a business to adapt, learn, grow and evolve while making certain of the predictability in delivery and quality of processes.
Propelled by the introduction of sophisticated workflow automation, technologies and the changing client needs and challenges, this kind of outsourcing takes a modular approach to service delivery. Service providers have simplified processes through breaking them into cohesive modules or components that could then be distributed across geographies so work could be done faster, better and cheaper.
The global delivery model made this possible. The financial and banking services industry, IT, insurance, retail, telecom, healthcare, real estate, engineering and travel industries are some of the major fields that have utilized global sourcing to their competitive advantage. Services which are outsourced successfully by these fields include customer support, finance and accounting, R & D, product development and testing, manufacturing process support and other related processes. The decision to outsource is not country or location dependent. The work is done at a place that does it best and is most effective to deliver value in terms of price, resources and competence available.
The firm that outsources gains access to technological infrastructure and specialized knowledge of the vendors in various parts of the world. Nearshore solutions offer the benefits of linguistic ability, cultural compatibility and the same time zones. Offshore solutions from countries in other time zones provide access to certain skills, better quality and 24/7 service which provides a faster time to market. On the other hand, online solutions give the benefit of efficient transfer of knowledge and a comprehension of client requirements.
Moreover, Sourcing globally leverages a blend of the solutions to offer client best-of-breed services at the best price and flexibility. It also enables consolidation of operational efficiencies and services across borders. Transformational sourcing could result in huge leaps and innovation through optimizing and simplifying complicated systems for value added advantages.