Offshore Outsourcing & Offshore Development Centers have clearly become an integral part of the overall outsourcing strategy of companies around the globe, to leverage the benefits of Offshore Outsourcing. Here are some facts on Offshore Outsourcing and the Offshore Development Centers:
- In an attempt to reduce costs, the world's 100 largest
financial-services companies say they expect to transfer
about $356 billion of their operations and 2 million jobs
offshore over the next five years
- Offshore Outsourcing Services
are expected to save the companies
approximately $1.4 billion each by 2008, according to a
report from Deloitte Research, an arm of Deloitte Consulting,
a global management-consulting firm. Financial services
companies from North America, Europe and Asia say they plan
to send work to low-cost centers such as India.
- It is predicted that more than 1 million jobs will move
to the Indian Ocean rim over the next five years. Based
on the Indian
Quality Standards , nearly half of the global
corporate world is targeting India, which has a huge market
of Business Process Outsourcing services as compared to other offshore outsourcing destinations.
- The survey of 27 of the world's largest financial institutions
shows that the shift in operations towards offshore
outsourcing is already well underway.
- Major big companies say that they currently have existing
development centers. That percentage is expected
to jump to 75 percent within two years, according to Deloitte
analysts. The survey also notes that the companies can achieve
a 39 percent cost savings by moving work to areas where
salaries and other costs are much lower.
- The survey also shows that banks and insurance companies
are transferring offshore, functions like application
development, coding and programming, accounting
and finance, contact support and call-center operations.