Trends for 2008: Outsourcing Industry
In the last few years, outsourcing has transformed into a more streamlined and mature industry. Here are some of the top trends predicted for the outsourcing industry for 2008.
The Analyst House Gartner expects that the outsourcing sector will grow at a robust 8.1% in 2008. Companies are outsourcing more, but opting to go for a multi-provider strategy, resulting in smaller deals and lesser media hype.
Politically Correct Outsourcing: With a heightened sense of environmental consciousness everywhere and the US presidential elections looming large on the horizon, 'socially responsible outsourcing' looks to be the mantra of 2008. There will be an increased focus on how service providers deal with their social and environmental responsibilities. Outsourcers in the US and the UK are taking an interest in the social credentials of their offshore service providers and the ethics of outsourcing practices. Offshore service providers who contribute to the environment around them, adhere to good in-house work ethics and enhance overall employee opportunities with training and career growth are the ones who will make the grade in a new environmentally conscious marketplace.
Outsourcing goes Professional: Outsourcing is emerging as a professional domain in its own right with growing demand for professionals having domain expertise in outsourcing best practices. As policy makers recognize the criticality of vendor management to gain from their outsourcing strategy, there is a growing demand for professionals with experience in the field. Experts predict a scenario where there will be more and more outsourcing professionals sitting at the executive table and defining the shape of business. The International Association of Outsourcing Professionals (IAOP) is offering the industry’s first and sole professional certification program – the Certified Outsourcing Professional (COP) – to address this need for a more professionalized approach to a dynamic industry. This could well be the time of the year when companies acquire a new COO (Chief Outsourcing Officer).
India Dominates as an Offshoring Location: A recent study by research specialists AT Kearney shows that India continues to have the dominant market share of 31% in global offshoring while Canada, China, Ireland, Philippines etc. are seen as challengers to the position. However, the last few years have seen the growth of locations such as Israel, Mexico, Brazil etc., which are making their presence felt as alternative offshoring locations.
Growth Areas in Outsourced Services: Outsourcing of Remote Infrastructure Management, Healthcare and Drug Discovery Services is poised for growth this year. The focus on SOA(Service Oriented Architecture) in software development and the widespread use of SaaS (Software as a Service) are also generating a lot of activity in the realm of IT and Software Development Outsourcing.
The Analyst House Gartner expects that the outsourcing sector will grow at a robust 8.1% in 2008. Companies are outsourcing more, but opting to go for a multi-provider strategy, resulting in smaller deals and lesser media hype.
Politically Correct Outsourcing: With a heightened sense of environmental consciousness everywhere and the US presidential elections looming large on the horizon, 'socially responsible outsourcing' looks to be the mantra of 2008. There will be an increased focus on how service providers deal with their social and environmental responsibilities. Outsourcers in the US and the UK are taking an interest in the social credentials of their offshore service providers and the ethics of outsourcing practices. Offshore service providers who contribute to the environment around them, adhere to good in-house work ethics and enhance overall employee opportunities with training and career growth are the ones who will make the grade in a new environmentally conscious marketplace.
Outsourcing goes Professional: Outsourcing is emerging as a professional domain in its own right with growing demand for professionals having domain expertise in outsourcing best practices. As policy makers recognize the criticality of vendor management to gain from their outsourcing strategy, there is a growing demand for professionals with experience in the field. Experts predict a scenario where there will be more and more outsourcing professionals sitting at the executive table and defining the shape of business. The International Association of Outsourcing Professionals (IAOP) is offering the industry’s first and sole professional certification program – the Certified Outsourcing Professional (COP) – to address this need for a more professionalized approach to a dynamic industry. This could well be the time of the year when companies acquire a new COO (Chief Outsourcing Officer).
India Dominates as an Offshoring Location: A recent study by research specialists AT Kearney shows that India continues to have the dominant market share of 31% in global offshoring while Canada, China, Ireland, Philippines etc. are seen as challengers to the position. However, the last few years have seen the growth of locations such as Israel, Mexico, Brazil etc., which are making their presence felt as alternative offshoring locations.
Growth Areas in Outsourced Services: Outsourcing of Remote Infrastructure Management, Healthcare and Drug Discovery Services is poised for growth this year. The focus on SOA(Service Oriented Architecture) in software development and the widespread use of SaaS (Software as a Service) are also generating a lot of activity in the realm of IT and Software Development Outsourcing.
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