More than three-quarters of the top providers of offshore services to US companies have their operations in India, according to a new study by the International Association of Outsourcing Professionals (IAOP).
WASHINGTON: More than three-quarters of the top providers of offshore services to US companies have their operations in India, according to a new study by the International Association of Outsourcing Professionals (IAOP).
The study also states that China, Eastern Europe, and Russia, while lagging far behind India, are starting to show up more often on the worldwide outsourcing map.
Twenty-three of the 30 top-ranked offshore providers are located in India making it by far the number one destination for outsourcing while neighbours in the hemisphere are beginning to make progress in the industry, the study says.
"This reemphasises how strong India is in terms of offshore services," Michael Corbett, executive director of the IAOP, said.
He said although areas like Africa and the Philippines have shown growth as outsource destinations, few companies operating there are ready to step up on a worldwide basis, unless they are already part of a global operation.
The top-five companies-24/7 Customer, Ajuba International, Bleum, Cognizant Technologies, and EPAM Systems-are among the IAOP's "rising stars," firms with strong growth performance but significantly less public awareness than Genpact, Wipro, or Equinox, according to the CRM Magazine.
"From Mumbai to Moscow, and from Shanghai to the Philippines, American business is finding ways to do things faster, better, and more efficiently offshore. And the leading offshore providers are taking the challenge and creating a feedback loop to insure continuous process improvements," the study said.
Among the leading functions moving from the US to offshore locations are IT support, toll-free call and email responses, consumer transaction processing, and financial and document management. Most are tasks that are labour intensive, require significant attention to detail, and demand real-time digital resolution.
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