Outsourcing is a business trend that dominates todayâ€™s world, a trend that had its beginnings in the latter half of the 20th centruy. The facts and figures on outsourcing indicate that many firms will move into this arena, both as providers and as clients.Â If you currently outsource any business process or intend to do, it is pertinent that you know the facts about the business.
Interesting Facts and Figures on Outsourcing
Listed below are some interesting facts and figures on outsourcing:
- When the idea of outsourcing was first brought in, in the 1970s, it was only the manufacturing companies that contracted out their job functions
- On the basis of statistics, outsourced projects on the basis of industry may be broken down as:
Hardcore IT sector â€“ 28%
Marketing and sales â€“ 15%
Finance Sector â€“ 11%
Administrative Sector â€“ 9%
Tourism, consumer distress calls, general data segregation tasks â€“ remaining 22%
- Forrester Research predicts that $136 million in wages and 3.3 million US jobs would be outsourced to India, Russia, China, and other countries by 2015
- The most popular outsourcing centers are India, Philippines, and China owing to the presence of trained experts with an excellent command over spoken and written English, and the presence of a steady communication infrastructure
- Outsourcing is being recognized all over the world as a case of special management. Being a management concern, it brings in fresh challenges that need to be overcome to get maximum gain from it
- It has been predicted that offshore outsourcing would progress at a rate of 20% annually, making it a market worth $25 billion in 2015
- 75% of the SEI-CMM (Software Engineering Institute – Capabilities Maturity Model) firms worldwide are found in India.
These facts and figures on outsourcing would guide you in making an intelligent outsourcing decision.