August 19, 2011: Novarica- an insight information provider for banking and insurance sector has published report in August 2011 about the BPO centers in offshore markets such as India.
The report is an eye opener for the entire offshore sector as it talks about the improved results for companies across the globe opting offshore outsourcing. The report basically deals with the benefits of offshore outsourcing.
It is based on the observation made by Karlyn Carnahan and team during their visit to Indian Business Process Outsourcing (BPO) sector earlier this year. It was prepared by the team after through research on the existing benefits from outsourcing and the future scope.
From the past 10 years offshore outsourcing has rapidly grown to become an essential element for better services. Earlier it was only cost, which the companies focused on while considering outsourcing but now the situation has widely changed. Outsourcing now also offers the benefit of high quality services and timely delivery too. In the current scenario, India is one of the most accepted places for outsourcing which provides cost effective and quality services.
The report provides a clear picture on the elements to be well thought-out while selecting an outsourcing vendor. Apart from cost effectiveness the vendor must be flexible enough for the optimum utilization of the resources and excellent in accepting latest technologies and innovations. Knowledge about the industry and operational efficiency will leverage the business. The offshore service providers must also consider cultural difference and focus on measures to improve the communication skills.
While selecting a vendor the company should give emphasis on the financial stability of the vendor and years of operation. It depends on the experience of the vendor and the technical qualifications, which enhances better service. The process of offshore outsourcing must be a step by step procedure form internal assessment to evaluation and selection of the vendor.
To conclude it can be said that to avail the maximum benefits assured by Business Process Outsourcing (BPO), a company should make internal analysis of its strength and weaknesses and focus on exploiting the available scope in the sector. Moreover proper attention should be given to the process of selecting a vendor and managing the relationship with the vendors to reduce the risk.
Strategic planning and selection of vendors and their management will uplift the benefits of offshore outsourcing. Unexploited scope is immense in the offshore outsourcing sector. Proper evaluation and vendor selection is required for well enhanced timely service and benefits.