Why Offshore Outsourcing for Various Industries in 2022?

Why Offshore Outsourcing for Various Industries in 2022?

December 21, 2021 | Bitscape Team, Outsourcing

Covid 19 surely has forced us to find new ways to keep the business running.

Deloitte’s 2021 Global Shared Services and Outsourcing Survey listed standardization and process efficiency (88%), reducing costs (84%), and driving digital agenda (61%) as top current priorities for the business.

The pandemic has been revved up with the digitization process and all those finding it hard to keep up have a harder time surviving. Half of the employees in the US are struggling to fill positions and that is making finding talent even more difficult. And thus, access to the global talent pool is very important and it does not matter where it is located. Hence, several companies are turning to offshore outsourcing to solve this issue.

How is Offshoring helpful?

Many countries like Ukraine have been helpful and proven successful for business outsourcing. These kinds of countries have been working with a lot of global clientele recently. And it is expected to be a billion-dollar industry by 2025.

Key drivers of Outsourcing:

outsourcing service providing company

Pros:

Building the best team:

With access to some of the best talents, it is very essential to build a classic team that not only saves money but also time and gives the best results. Offshoring allows you to build the best team for the specifications of your project. Offshoring gives you the benefit of selecting experts in the respective fields and you don’t have to hire them or train them they already are experts.

This helps in creating a team of talented personnel and also helps finish the project faster and with better results. Thus, you can decide who will work on what based on their skills and abilities.

Access to specialists:

It not only gives companies a chance to hire the best people for work but also gives people a chance to work with some of the big companies which otherwise would only have been a dream. Companies get to work with specialists and so do the employees.

Better prices:

Offshoring especially from developing countries has proven to be cheaper and more beneficial as the labor rates here are lower when compared in dollars. But instead of hitting these opportunities individuals have started to specialize in some of the most important fields and are using that to work in some of the biggest companies around the world. This is beneficial to the companies as they can get the best services a very affordable prices.

Focus on core business tasks:

Offshoring also helps take off the burden from the in-house teams and thus they can focus on core business tasks rather than other projects. This helps the in-house teams focus on their work and not overburden them with all kinds of tasks and let the specialists work on them. This way the company gets their work done properly and employees are saved from pressure.

Company growth:

With multiple teams at multiple places, it allows you to take on more projects and get better business done.

Cons:

Cultural differences:

Offshoring usually involves more than one country in this and not all countries have the same working culture. This might be a point of differentiation. This might just be initial hesitation as most places are starting to have a similar work environment due to globalization. And thus, this is not much of a major thing today.

Time zones:

Different continent means different time zones. In this case, it might be difficult to keep up a conversation in real-time or wither sided have to work in collaboration with other’s time zone.

But with advancement in communication channels, these kinds of issues are being solved and it became easier to work in different time zones

Commitment:

Some professionals might not be comfortable working offshoring as they still have traditional thinking of having a full-time job that will be more secure and stable and offshoring doesn’t offer this. But with time these beliefs are being crushed and more people are working towards offshoring.

So overall these are the pros and cons of offshore outsourcing of services. It’s been of great help especially with industries and work needing specific specialization. It also saves a lot of time and money by giving the best results for the same.

Bitscape is one such Outsourcing providing company. We have tech experts in different fields with a variety of specializations. We have been providing outsourcing services for a long time now and have achieved the best results for the same. And thus, hiring us will be a great start to successful projects with the best results.

Read More: How to determine your IT outsourcing services company?