September 9, 2011: Outsourcing strategies of global firms are changing as per a recent study conducted by TPI. At present companies are trying different outsourcing strategies to overcome the economic down trend and expected recession. The study by TPI covers latest strategies adopted by global 2000 companies in the outsourcing industry to manage their spending on outsourcing.
TPI is a services company which deals with designing implementing and managing strategies for clients. The company is basically an information service group company which has highly qualified research and development team. The recent study conducted by the service company concentrates on key verticals motivated by clients and also concentrates on the hard business benefits prevailing in the outsourcing sector at present. The basic findings of the report are on the Global 2000 outsourcing penetration and its impact.
According to the study conducted by TPI there was a drastic change in the outsourcing sector. Companies are willing to spend more compared to previous years particularly those firm which are into oil & gas, financial services and transportation related business. However companies have tight expenditure policies now. The concern on expenses has resulted in changes in the investment policies and managing expenditure. The sector as a whole is looking forward to build strategies for easy and affordable access to outsourcers who can deliver the perfect solution at right time.
The report says many companies are taking initiative to entirely depend on outsourcing for a complete solution and economical budget. There are more than 80 fresh outsourcers who have provided outsourcing for the first time last year. Companies are more concerned about cost effectiveness and timely delivery of quality services.
Depending on in-house sources every time might not fulfill the requirements. Lack of experienced employees and technological disadvantages has been a big issue for many global firms. If work can be done through an outsider such as a service provides at acceptable price than why should some company depend on in sourcing where enough skilled work force is not available.
As far as service providers are concerned, this is a good indication for them to tap the new business opportunities available in the industry. As more fresh companies are looking for investing in outsourcing the service providers will be benefited with new business deals and contracts. The findings of TPI have a good impact on the outsourcing industry as such.