Global outsourcing experts expect growth of 8% for 2009 outsourcing operations as Service Buyers continue to favour smaller service contracts. Analyst house Gartner forecasts the ITO and BPO industries to return to a healthy level of growth during the 2010 fiscal year.
The use of BPO services business model is not a decision a Service Buyer makes solely on location or geographic proximity. Strategic decisions for location sourcing will be based on end requirements, including complexity, quality requirements, available budget and financial resource allocation. Generally, a Service Buyer engaged in the offshoring process will assess the quality of domestic education, and technological infrastructure prior to sourcing a business requirement to a particular region.
uF targets primary market of firms that buy or provide offshore business services. The offshore market perceived as the highest growth area of SME outsourcing growth is the market niche for uF.
In 2009, Gartner expects competition for outsourcing deals, particularly for standardised ITO services, to be fierce. Service Buyers will be lured by low prices from Service Providers trying to achieve quarterly revenue goals or strengthen market share.
Culture is one of the major barriers of successful offshore outsourcing. The cultural barriers should be dealt with in an understanding to succeed in offshore outsourcing. A brief look at the cultural and business practice shows that western countries like USA and UK adopt individualistic approach while Latin America and Asia follow collective culture.
Outsourcing is a major global industry which is growing everyday with internet connectivity. Management of business processes, execution of various administrative, clerical, creative, legal, computer programs and media functions are completed with the help of external service providers. The platform or portal is provided by various organizations for the job providers and freelancers to meet. The buyers and freelancers interact with one another, freelancers complete the job and buyer pays the amount agreed upon. The payment is paid via escrow of the portals for safety of both the buyers and freelancers. Events, Conferences and seminars are conducted across the globe as an effort to educate, discuss and standardize the outsourcing industry and bring in more recognition to the contribution of freelance marketplaces such as uFathom to ensure a safe and easy to use platform for businesses to buy services according to the requirements. Here is a roundup of few of the upcoming events –
uFathom is an international outsourcing marketplace focusing on the development and implementation of B2B offshore partnership services for small and medium enterprises. The company is a global trade center for corporate offshoring, outsourcing and freelance jobs.