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Why Outsourcing Could Save Your Business

Why Outsourcing Could Save Your Business Outsourcing is where a business contracts a portion of its business to a third party. The third party is typically a specialist in a particular field and based locally or in the same country. Offshore outsourcing is a form of outsourcing where 3 a company outsources a portion of its work to be done overseas. The global market size of outsourced services was worth $82.9 billion in revenue in 2013. The Top Terms You Need to Understand BPO Business Process Outsourcing Contracting a specific business task e.g. payroll, to a third-party service provider. ASP Application Service Provider Access over the internet to applications or related services, that a company would otherwise have to locate in their own company computers. SAAS Software As A Service A software licensing and delivery model where software is licensed on a subscription basis. It is centrally hosted on a cloud computing platform by the service provider. SLA Service Level Agreement Contract between a provider and a customer that specifies measurable services the provider has agreed to. ROI Return On Investment How much profit or cost saving is being achieved. VPN Virtual Private Network A way of providing remote offices or individual users with secure access to their organisations network. Reasons to Outsource Cost Saving Initiative Transfers Risk 1 Access to Expertise Manages Capacity 41 Saves Valuable Time To Focus on Core Processes Access to Technology The Most Popular Outsourcing Sectors 100 90 80 70 53% 60 43% 50 38% 40 26% 30 12% 20 10 Manufacturing IT Services R&D Distribution Call Centres The Top Countries for Offshore Outsourcing India China - Advantages: v Advantages: Most popular country for outsourcing. Intelligent, efficient and diligent workforce. 2nd highest population in the world. Most populated country in the world. 1.3 billion consumers in its market. Manufacturing and retail industries dominate. x Drawbacks: x Drawbacks: Still adjusting to the world's economy, it only entered the global business market 21 years Political environment can be unstable. ago. E Malaysia Thailand v Advantages: - Advantages: Known for cost effective and value orientated services. Key outsource areas include BPO, SI and IT. Very financially attractive for business with low costs and high returns. x Drawbacks: x Drawbacks: Low people skills, compared to India and China. Political infrastructure resulting in a lack of quality leadership, leaves the work force lacking in key skills. * Advantages: A good balance of financial attractiveness, political environment and people skills. Brazil x Drawbacks: Nothing major. Seen to be one of the emerging countries in the outsourcing world. References =16418821-2.PAGBT_MORcml67IBYq2pgw.0& 265e4b0edcb252c60e8/1389822568484/shutterstock_149663018.jpg Ayers 4+

Why Outsourcing Could Save Your Business

shared by PatBourke on Jun 23
The global market size of outsourced services was worth $82.9 billion in revenue in 2013. Manufacturing is the most outsourced sector and Brazil is fast emerging as the offshore outsourcing destinatio...




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