Recent surveys and studies on outsourcing have concluded that outsourcing will stay in the future. Most organizations in the US and other European countries will continue to outsource non-core functions such as HR services, IT services and BPO services to bring down their operating costs, to save on effort and to get access to better quality services.
The studies on outsourcing discovered that nearly 90% of business executives around the world believed that outsourcing definitively helped their business to get a competitive edge. They felt that outsourcing helped in getting the much wanted results for their businesses. Most of these business executives who were for outsourcing also said that even if one outsourcing partnership failed or didn’t meet their requirements, they would still continue to outsource and not give up on outsourcing. They felt this way because of the advantages that outsourcing offered.
There were other reasons why outsourcers were keen on outsourcing. Outsourcers felt that outsourcing helped improve their customer relationships and also helped in developing new strategies, services or products. Organization heads also felt that outsourcing helped them increase their business value and growth.
Outsourcing has reached yet another level with outsourcers willing to outsource their core functions. Earlier organizations outsourced their non-core functions. As opposed to this earlier trend, business executives are now outsourcing more of their core functions. Earlier IT was one thing which was widely outsourced. Today, the market is much wider for outsourcing, with organizations stepping out to outsource the development of their products, sales and marketing functions, delivery of services/products, research and development functions and other core-functions. These studies and surveys clearly point out that outsourcing has taken a different meaning with organizations experimenting with outsourcing their core functions.
The studies on outsourcing have predicted that outsourcing will continue to grow in the future. The surveys have analyzed that collaborative outsourcing will grow tremendously in the years to come where outsourcers will outsource to many outsourcing vendors, depending on the expertise offered by the vendors.
The outsourcing phenomenon is here to stay!
