A New Trend in India’s Outsourcing Services Industry
India has become the most mentioned country in the world’s outsourcing market for years. Among those years most assignment involved in trasaction-intensive services like call-center support or check processing. Today, a number of India outsourcing firms are steping out of the back office towards knowledge process outsourcing. Instead of routine data work, they are offering high-end research services like information extraction which involves a certain amount of judgement, interpretation, discretion and inference. That signals significant change in global outsourcing services industry. Not only labor arbitrage that client’s companies benefit by offshoring tasks to India but also innovative services in improving process flow in the client’s companies.
From a speech given by the IBM’s CEO at INSEAD, there are two significant factors that determine a place in which investment money moves; cost and profit potential, expertise and openness. Now India already has two out of three key factors.
Also, a consulting group forecast that the future of India’s outsourcing industry, they will make a leap to the next level to capture high-end consulting work at big companies and aim to be competitive with world-class outsourcing companies like IBM Global Services, Accenture and EDS.
They have already done a good job, should we just wait and see how well they will do in the future? Or should we capture such opportunities too?