European companies realize that they cannot continue to compete effectively on a global scale without utilizing the increased efficiency and flexibility they can gain through outsourcing. This is evidenced by Europe overtaking the US as the world's leading market for outsourcing contracts.
Over two thirds of this outsourcing segment was from IT outsourcing and a third business process outsourcing, whereby companies engage third parties to perform functions such as finance, accounting, procurement and human resources processing.
Businesses have started outsourcing in a more targeted way choosing specific locations for specific functions, outsourcing solutions have become more effective.
European outsourcing is likely to continue increase yet again with business process outsourcing gaining in popularity and IT outsourcing's lead to stabilize gradually. Countries like India that have a strong backend and IT outsourcing service industry infrastructure should wisely tap this lush market without fail.
Outsourcing to India primarily continues to be IT and back office based. However, it is encouraging to see an increase in legal, Para-legal activities in addition to some R&D and specific analyst activities being outsourced to India. India should specialize and aim for higher end and exclusive areas of expertise if it plans to retain its hold as the king of outsource.
Over two thirds of this outsourcing segment was from IT outsourcing and a third business process outsourcing, whereby companies engage third parties to perform functions such as finance, accounting, procurement and human resources processing.
Businesses have started outsourcing in a more targeted way choosing specific locations for specific functions, outsourcing solutions have become more effective.
European outsourcing is likely to continue increase yet again with business process outsourcing gaining in popularity and IT outsourcing's lead to stabilize gradually. Countries like India that have a strong backend and IT outsourcing service industry infrastructure should wisely tap this lush market without fail.
Outsourcing to India primarily continues to be IT and back office based. However, it is encouraging to see an increase in legal, Para-legal activities in addition to some R&D and specific analyst activities being outsourced to India. India should specialize and aim for higher end and exclusive areas of expertise if it plans to retain its hold as the king of outsource.
