Best Outsourcing Countries

Did you know that Best Outsourcing Countries (BPO) is projected to grow to approximately $435 billion by 2028? The industry is expected to be worth more than $251 billion in 2022.

Why such a huge growth rate? Statistics show that approximately 84% of executives choose outsourcing as the best way to reduce production costs. India, the Philippines, Poland, Ukraine, Brazil, Mexico, and Argentina are among the most desirable outsourcing countries worldwide.

That is why today’s organizations and companies are turning to global outsourcing. This post also addresses the perceived downsides of global outsourcing. So read on.

Rate reduction

The average monthly salary in 2021 in top outsourcing countries like India and the Philippines was $424 and $885 respectively.

Business development and scalability

The best way to grow your business is to free up funds and direct them to invest in additional resources. Sometimes your company faces challenges in hiring a new team to enhance existing potential growth opportunities. This is where global outsourcing comes into play.

Performance enhancement and job satisfaction

Global outsourcing helps increase productivity across the board. How? While an offshore employee handles the repetitive and time-consuming tasks of your company, your in-house employees are more focused on what motivates them and what they are doing.

In the long term, the use of global outsourcing opportunities contributes to improving efficiency, quality and employee satisfaction.

Perceived Disadvantages of Global Outsourcing

Due diligence is important when choosing the right outsourcing provider for your business to avoid the following limiting factors;

Social and cultural issues

Of course, social and cultural customs in the United States differ from those in Poland, the Philippines, or India. Therefore, global outsourcing may lead to some misunderstandings about KPIs, deadlines or other problem areas.

Language barrier

Language can prevent your business from reaping the benefits of global outsourcing. Many global outsourcing providers operate in low-wage countries, which can easily affect the English skills of the outsourced team. This is especially true in countries where English is not the first language.

Data security

Let’s say your offshoring provider must have proper cybersecurity protocols and management plans in place. If so, this situation can greatly increase the potential risks to data security.

US Companies Working with Nearshore Software Development Companies: The Benefits

Why take on the above global outsourcing challenges when you can reap the following key benefits by working with nearby software development firms?

  • common time zone
  • It costs less
  • New price level
  • Fewer language and cultural barriers
  • Potential tax savings
  • There are no hidden costs
  • Protected intellectual property

Conclusion

Undoubtedly, today there are many opportunities for companies, businesses and organizations to outsource services or entire departments. In this case your US, you can outsource to a domestic company located in the same country (onshore outsourcing), in a neighboring country (adjacent outsourcing) or abroad (offshore outsourcing). Each of these models has its own advantages and disadvantages.

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Written by Patna Motihari

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