Business Process Outsourcing has been a hot topic for over a decade. More often than not, we see BPOs as an industry made up of multinationals and large corporations who can afford to have a presence in other countries, but the reality is that outsourcing can be much simpler, but more importantly, more cost-effective than that. In fact, there are a number of startups and small businesses who have cut their teeth through outsourcing, both in working with offshore companies or handling international clients. Examples of this can be seen in the success of local IT businesses in India such as Kodework, NineStack, and even us here at Creometric.
So why are major companies willing to outsource their work to offshore companies like us. Well, the answer is simple.
The main reason is the significant cost-saving that comes with employing offshore companies. This is due mainly to the massive gap that exists between personnel costs in India and that of the developed countries. The flexibility in pricing and custom packages in India is also a significant attraction for many offshore organizations.
Consistency in quality of service and solutions offered by the Indian outsourcing companies is also another crucial and significant factor that has enabled India to emerge as the leading outsourcing hub. The quality and talent seen in the Indian IT sector, even in states as small as Goa, is remarkable.
Following from the previous point, it is no stretch to say that India is home to the world’s largest technical and industrial talent pool. India has a population of close to 1.4 billion, with millions of graduates coming up to join as qualified and an upskilled workforce every year. Additionally, India is the largest English speaking country in the world, which is another highly favourable factor for India.
The Indian Government (along with many of its state Governments) are constantly developing favourable IT policies with regards to taxation, economy, GDP growth, power, telecom, industrial parks and special zones etc. IT is amongst the top 5 industries in India, and the government has come up with progressive schemes and policies to bring optimum benefit from IT outsourcing to India. This has been extremely beneficial, especially for IT startups. Companies like Nordic Intent who specialise in acceleration and business incubation are a prime example of this.
The time difference can be seen as a disadvantage, but here in India it can be very beneficial and is the major factor in enabling Indian outsourcing companies to deliver solutions quickly and professionally. Foreign clients such as those in the US or Canada can meet through the day, and assign work to their offshore partners in India knowing that it’s the start of the workday here, which means by the time they are back to work the next day, the assigned tasks are completed. This saves a lot of time, and we all know, time equals money.
What are your thoughts on Business Process Outsourcing? Are you looking to work with an offshore partner for your Digital Marketing needs? Then get in touch with Creometric today. We’d be happy to hear from you.Learn more about Digital Marketing at the Creometric Academy