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FORTUNE 500 FIRMS VALIDATE COST SAVINGS OF BOOMING OFFSHORE OUTSOURCING MARKET.(IT outsourcing)(Industry Trend or Event)
Choosing An Offshore Vendor Is No Longer Just A Simple Cost Reduction Issue
According to recent statistics from India-based software association NASSCOM, 203 companies among the Fortune 500 currently outsource application development to facilities in India. Exploding in the last ten years, the IT outsourcing business there has grown from a $20 million industry in 1988 to one worth a whopping $4 billion this year.
The substantial growth of offshore outsourcing parallels the shifting role of IT, from a cost reduction tool to a value and effectiveness enabler. Responses to a recent Corbett Group poll at the 1999 Outsourcing World Summit also portend continuing growth. In the poll, 97 percent of the 200-plus executive respondents predicted a 25 percent spending increase for outsourcing in fiscal 2000, despite predictions from the Gartner Group that total annual IS budgets will shrink from 4.07 percent of revenues in 1997 to just 2.75 percent by 2000.
Couple these numbers with the ongoing shortage of IT talent in the US and an expected application development boom post-Y2K, and the burning question …
- Offshore outsourcing to India to grow by 30% in 2004: Giga.
- News wire article from: PTI - The Press Trust of India Ltd. January 28, 2004 700+ words
...Jan 28 (PTI) Offshore outsourcing to India will grow by at...firm Giga. "Offshore outsourcing to India will grow by minimum...their presence in India", Giga said...Trends 2004: Offshore Outsourcing' report. These...
- OFFSHORE OUTSOURCING TO INDIA TO GROW BY 30 PCT IN 2004: GIGA.
- News wire article from: Asia Africa Intelligence Wire January 28, 2004 700+ words
...28 Asia Pulse - Offshore outsourcing to India will grow by at...firm Giga. "Offshore outsourcing to India will grow by minimum...their presence in India", Giga said...Trends 2004: Offshore Outsourcing' report. These...
- Target: GM; Pumped up on offshore outsourcing profits, India's software giants...
- Magazine article from: Automotive News Kisiel, Ralph May 2, 2005 700+ words
...have fattened up on offshore outsourcing profits. Now at least...home in Bangalore, India. Wipro says it can...experienced programmer in India earns about $6 per...Americans have their own offshore outsourcing strategies. Kevin...Wipro, owned by India's wealthiest man...
- CosmoCom Selected by EagleIP for Hosted Contact Center Platform; EagleACD...
- Press release article from: Business Wire April 13, 2004 700+ words
...The new service, called EagleACD, will feature very aggressive pricing and a special emphasis on enabling offshore outsourcing in India, a powerful combination that CosmoCom believes will interest many prospective customers from small to large...
- PSI, BOLERO COLLABORATE FOR OFFSHORE OUTSOURCING PLANT IN INDIA (PSI will offer...
- Magazine article from: India Business Insight April 15, 2006 700+ words
(From India Business Insight) PSI Data Systems Limited, in collaboration with Bolero Company, plans to start an Offshore Outsourcing plant in India. As a part of the contract, PSI will offer services such as...
- US STUDY WARNS OF INCREASE IN OUTSOURCING OF GOVERNMENT WORK (18 offshore...
- News wire article from: Asia Africa Intelligence Wire July 24, 2004 700+ words
(From India Business Insight) A report of...According to the study, 18 offshore outsourcing companies mostly from India are involved in the State Government...have to pay more attention to offshore outsourcing.
- Offshore outsourcing drives growth at Bangalore, India-based software firm.
- News wire article from: Knight Ridder/Tribune Business News January 13, 2005 700+ words
The Times of India Knight Ridder/Tribune...Jan. 13--BANGALORE, India -- Infosys Technologies...increase to strong demand for offshore outsourcing. The company said pricing...see more of The Times of India, or to subscribe to the...
- NASSCOM and CBI Sign Breakthrough Agreement on Supporting Offshore Outsourcing...
- Press release article from: PR Newswire March 31, 2006 700+ words
...highly specialised companies in low-cost India. Two internationally renowned knowledge...management and many others. NASSCOM, India's largest branch organisation for this...large buyers and suppliers in Europe and India have no trouble in finding each other...
- Fidelity National Information Services Expands Offshore Outsourcing Presence in...
- Press release article from: PR Newswire February 27, 2007 700+ words
...it has expanded its offshore presence in India through the acquisition of Second Foundation...subsidiary, Fidelity Business Solutions India Private Limited now operates in Bangalore and Chandigarh, India. Second Foundation has extensive experience...
- INDIA'S OFFSHORE OUTSOURCING TO GROW BY 60% IN FY '03: MCKINSEY.
- News wire article from: AsiaPulse News February 13, 2003 700+ words
...MUMBAI, Feb 13 Asia Pulse - Offshore outsourcing or IT- enabled Services...ITeS-BPO) segment in India is expected to grow by 60...downsize, which would result in India getting more offshore contracts...These factors would make India a hot destination for offshore...
Source: HighBeam Research, FORTUNE 500 FIRMS VALIDATE COST SAVINGS OF BOOMING OFFSHORE...
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