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Can Outsourcing become a Remedy or Collapse to this Financial crisis Disease?

Created by : Sunil Ahuja, Asst. Manager/Manager -(NonTechnical), IBM-Daksh  | 12 13 2008 06:19:30 +0000
Industry : ITES / BPO / Customer ServiceFunctional Area : Outsourcing(Operations)
Activity:  166 views;  last activity : 07 06 2010 20:18:09 +0000
Since beginning of October the world started changing, everywhere newspapers, radio, TV, Internet you hear and see these words “Global Financial Crisis”. Some experts call it a financial collapse. The main problem for all companies is how to reduce expenses with minimum losses for their business. Here the aim is to give an answer to the question: “Can outsourcing become a remedy or Collapse to this financial crisis disease?"
  
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Remedy Vs Collapse
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I could say crisis will not omit outsourcing industry. But this crisis will do more harm to vendors already providing services to clients rather than start-ups. Knocking down of project budgets may force outsourcing companies to lower their prices, so that margins will shrink or nearly disappear. Companies that are just developing could get some benefit from the current situation. After financial and industrial organizations complete their budgets for the first quarter of 2009, vendors will have to re-consider their rates and beginners are more flexible in this meaning.
By Krishan Lal, Asst. Manager/Manager -(NonTechnical), Genpact  | 12 13 2008 06:24:48 +0000
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NO, as there is no panacea for all woes. But still we’ll try to understand if offshoring could solve some problems resulting from the current situation.
World companies are now trying to get rid of extra costs, including employee base. Expenses paid to the outsourcing company are far less than those connected with keeping your own employees completing the same task. Offshoring has always served this way. As a matter of fact, outsourcing industry has always been attractive due to its ability to improve TTM (Time to market). And now in terms of the present financial situation companies realize the necessity of outsourcing more than ever. That’s why all outsourcing companies have their fingers crossed hoping to attract as many clients as possible...
By Sunil Ahuja, Asst. Manager/Manager -(NonTechnical), IBM-Daksh  | 12 13 2008 06:19:30 +0000
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