Which countries are competition to India when it comes to LPO?

Offshoring – the practice of moving processes or services to another country, in order to improve business efficiency and reduce costs – is now an integral part of the modus operandi of western business, and the numerous companies that have gone down this route in recent years have derived immense benefits, not just from cost savings, but also in terms of overall focus and business development.

The practice of offshoring (or outsourcing, as the trend is more commonly known) has gained considerable momentum over the past years, and there is little doubt that it is here to stay. But even as it benefits the business interests of companies, many still believe that outsourcing is detrimental to western economies, not least because the creation of jobs in countries where labor is cheap is perceived to come at the expense of western workers. In a recent Harris poll, for instance, 52% of adults surveyed in America said that the loss of jobs to foreign countries represents the single biggest threat to the U.S. economy in the next five years.2  However, despite such fears -- which have been rampant since the beginning of the outsourcing trend -- there is no denying that the outsourcing route is one more and more companies are taking, and those that have already benefited from it have realized that it has much to offer beyond cost-cutting.

Indeed, organizations that have already outsourced certain business functions are not only outsourcing greater amounts of work, but also more significant work, and this helps to enhance both the value of the organization and what it can deliver to its clients. The outsourcing of a greater number of business functions enables workers in the U.S. to concentrate on the most core and essential functions of their day-to-day work, confident in the knowledge that while they sleep, workers in other countries will take over the relay and support their endeavors with quality work. The business process thereby becomes seamless in terms of delivery, execution and standard of work -- mandatory for any company that wants to be at the forefront of today’s global economy.