In today’s competitive environment outsourcing has become crucial to cut on the costs for an organization and to focus on its core business activities. Outsourcing has helped the offshore companies to save roughly about 60 to 70 percent and to utilize the same in other core business functions. Now-a-days outsourcing all major work to India, China and Philippines has seen a steady growth. These nations have talented pool of English literate people who can deliver the work with good quality in timely manner that to at very economical rates. Indirectly outsourcing has helped to create more jobs in these countries thereby contributing to its economic growth. Especially in India, where young people mostly in their 20’s and 30’s are available in good percentages to fill up the workforce to complete offshore projects with good accuracy and in timely fashion.
Outsourcing all major work such as data entry, forms processing, check processing, survey processing, insurance claims processing, MSDS (Material Safety Data Sheet) data entry work, web research and data compilation, transcription, legal work outsourcing, other KPO (Knowledge Process Outsourcing) and high end work have become very common. India has become one of the major destinations for outsourcing all type of work along with China and The Philippines. It cannot be ruled out that India has English has its second language and enormous number of population know English language very well who can communicate, read and write in English.
Presently in India there are many outsourcing companies who offer all type of services such as web designing, search engine optimization, data entry, medical transcription, software development, insurance claims processing, medical billing, medical coding, legal work outsourcing etc. Outsourcing work has played vital role in generating employment and thereby contributing to economic growth of the country.
Offshore companies can outsource all their laborious work to India, China, and The Philippines and can focus on their main business activities. This helps to reduce their costs efficiently and also saves their man hours considerably. They can efficiently utilize their resources elsewhere and can derive more profits for their organizations and thereby fulfill their corporate goals.