Read this blog post to stay informed about the upcoming trends in outsourcing in 2021.
Every year, there are a few trends that emerge to shape the world of outsourcing. If your business is keen on reducing cost and availing high-quality services from experts, then you must consider outsourcing in 2021. However, to make the most of outsourcing and to ensure a successful outsourcing venture, you must be aware of all the upcoming outsourcing trends. Here are five upcoming outsourcing trends in 2021.
- Businesses all set to increase their outsourcing budget
Quality would win over quantity in 2021, as would process over price. The IT outsourcing budget will increase this year. Quality will be the main driving force in any outsourcing decision in 2021, as per the National Outsourcing Association report. Companies will not be shying away from increasing their outsourcing budget. Most countries are facing a talent crunch due to the coronavirus outbreak and are looking forward to outsource. Thereby companies are ready to increase their outsourcing budgets in 2021.
- Shortage in talent will increase outsourcing demand
As per the latest reports, outsourcing spend was expected to the benchmark of one trillion. Companies are currently lacking the required tech expertise in-house and are forced to outsource their software/IT functions in order to stay competitive. Whether it is data science, customer support, IT software or software services, more companies would be looking forward to availing the best talent through outsourcing. The shortage in tech expertise will lead to an increase in demand for outsourcing services. India, as an outsourcing destination will be much sought after for their skilled and talented workers in 2021.
- COVID to increase the digital spend of businesses
As mentioned above, businesses will be increasing their outsourcing budget. This is not only because of evolving technology or growing competition. The coronavirus pandemic has forced businesses to make their operations digital. From launching digital products, to creating digital products that are secure, robust and scalable, companies are keen on shifting their work online. This means that businesses would be cutting back their spend on their legacy services and increasing their digital spend. More and more enterprises would be increasing their digital spend to catch up with the future of technology. Since most businesses are turning their business model into a digital model, they will be increasing their spend in 2021 to stay competitive.
- Asia-Pacific will be the popular choice for outsourcing
Until 2020, new outsourcing competition was gaining momentum. Romania, Poland, Ukraine and Belarus were considered to be tough competitors to leading outsourcing providers like India and China. However, the COVID pandemic has slowed this transition. Quality is now pitched higher than price and other factors, forcing enterprises to shift their attention to major players in the Asia Pacific region like China, India, Malaysia, Thailand, Vietnam and Philippines etc. Theses Asia-Pacific countries will maintain their strong foothold in 2021, owing to their high-quality services with low-cost pricing models.
- Outsourcing relationships would evolve
Outsourcing relationships will take on a more evolved form. Earlier on, outsourcing relationships were based on give-and –take, where a business would buy the services of an outsourcing company. In 2021, this will change, with outsourcing companies offering more than just “services”. Outsourcing service providers will be more involved in bigger business decisions and in the building of software architecture. Outsourcing providers will play a pivotal role in varied aspects of a project like its feature building, launch or monetization in 2021.
As most business are scaling and speeding up their digital transformation imitative, outsourcing companies in India are winning new deals. The Indian outsourcing industry is all set to see a rise in revenue in 2021. If your enterprise plans to outsource in 2021, you can consider India. Indian outsourcing service providers like Outsource2india offer customer-centric services, which are scalable, reliable, efficient and low-cost. From customer support, to software services, data science and market research services, Outsource2india is a one-stop destination for any outsourcing service that you may require. Find out more about our services and get started with outsourcing in 2021.
Did you like reading this post? How do you think outsourcing will unfold in 2021? Which outsourcing trend are you looking forward to? Let us know what you think by leaving a comment in the box below. We, at Outsource2india love to hear from you.
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