Cost reductions of up to 60–70% relative to in-house operations, especially with software development and IT solutions, are, nevertheless, not unusual. Graphic design, content creation, digital marketing – the talent pool here is deep, diverse, and brimming with innovation and startup energy. They’re not just IT hubs but are also called the Silicon Valley of India for their tech leadership. From app development to software testing and backend operations, this sector is on fire.
They should understand your company’s values, quality expectations, and business processes. They, in turn, can train the local staff, ensuring your standards are billable hours met. Effective training is essential for maintaining service quality and can involve on-site sessions, virtual training modules, or a combination of both.
- Also, consider using communication tools like Slack, MS Teams, or ClickUp to ensure that your virtual accountants remain accessible throughout the day.
- What started as a cost-cutting initiative in India has managed to be a reliable, sustainable way of working for a lot of accounting and bookkeeping firms in the US.
- If quality is compromised, cost-effectiveness is no longer an advantage for you.
- They find outsourcing cost-effective compared to training an in-house team.
- “While India still leads as a favourite destination for sourcing, there are other countries that are fast becoming emerging locations,” says D.D.
Now, companies are looking for IT outsourcing firms that follow the agile model and can share their expertise with the clients as well. They want remote agile teams as they have been more productive in getting work done faster. It won’t take the focus away from the development priorities and can get even a small change implemented in a sprint instead of investing time in functional capabilities.
What are the risks associated with outsourcing to India?
You can only enjoy the benefits of offshoring to India if you are sure it is the right choice for your business. Here’s a more comprehensive list of offshore outsourcing pros and cons. You will also need to be sensitive to the religion and culture prevailing in the Indian outsourcing company to avoid misunderstandings. Several offshoring Indian companies may work within a five to twelve-hour difference from an American or European company.
- Moreover, most Indian work practices comply with ISO (International Organization for Standardization), SEI (Software Engineering Institute), and CMM (Capability Maturity Model) standards.
- This is the reason why most insurance companies outsource these processes.
- So Indian accounting consultants will be able to communicate clearly and understand your business processes without any issues.
- Their clients retention rate of 98.9% speaks for their quality of services.
- They’re ideal for customer support because they’ll have no issue conversing with your consumers and resolving their demands.
- Advanced working models would erupt that would focus on reducing human efforts in the development world.
Plaxonic also focuses on maintaining consistency when it comes to offering high quality services. They want you to know you can trust them to do the job you hired them to do. To grow your business, you probably need help from hands-on customer service representatives. Outsourcing to India, and other countries, is not only a smart way to save money.
The company’s global support center, divided between Bangalore and Hyderabad, offers technical support on Oracle products. At the same time, a shared services center in Bangalore provides back-office services to Oracle subsidiaries. When it comes to finding offshore outsourcing partners, some of the most obvious options might yield the best results. There are several internet markets available that make offshore IT outsourcing more affordable and manageable. You can look for people based on their talents, geography, category, services, and reviews.
About the offshoring industry in India
Outsourcing can be an effective solution to fuel your business growth on budget. Companies prefer to outsource when they want to leverage emerging technologies such as cloud computing and big data. They find outsourcing cost-effective compared to training an in-house team. The global outsourcing market is worth $92.5 billion and will only continue to grow as more companies realize the benefits of outsourcing. For example, you are engaging in outsourcing when you get your complete or part of your mobile app development project performed by a third-party vendor. Companies in the United States, Australia, Europe, United Kingdom, etc., can leverage the time zone difference that they have with India.
In this model, you hire remote Indian developers on a full-time, part-time or monthly basis according to your requirements and you pay only for the developers’ time. So, you must get involved in this process seriously and evaluate their technical skillset before onboarding them to your project. Most companies even cater to replacement requests with no questions asked.
24/7 Development Cycle
Its retail banking operations include mortgages, consumer loans, and credit cards. However, the company decided to withdraw its retail business in 2011. While other countries have their strengths, India offers a versatile buffet of services – from IT to customer support, and even niche sectors like BPOs and backend tasks. People are concerned about outsourcing as a result of the outbreak of the pandemic. It had altered people’s perceptions of outsourcing and how they were hired earlier. However, as most firms scale and accelerate their digital transformation projects, IT providers in India are winning new business.
What is the Kody Technolabs’ Expertise in Outsourcing?
This enables them to cater to all of your accounting needs quickly and accurately, making it a great destination for accounts outsourcing. Foreign companies can outsource to Indian CPA firms (Certified Public Accountants) to benefit from their cost-effective and quality services. Another common IT services that companies outsource to India includes software testing and quality engineering to ensure the successful launch of their digital products. Also, most Indian firms boast high-speed internet bandwidth to facilitate constant uninterrupted communication and support for their global clients. Thus, they are recognized for delivering top-notch software solutions and services to their clients.
Not only do they help you take care of your customers, but they work on developing solutions that are customized to fulfill unique customer requirements. Triniter is regarded as one of the most dependable customer support providers. However, as you’ll notice, there is a lot of overlap in services provided.
Infosys Chief Operating Officer Rao, in the earnings call mentioned earlier, also categorically ruled out going talent hunting for its India centres in Eastern Europe or elsewhere. “I don’t see any other country being able to provide such kind of talent with scale,” he said. Infosys Chief Operating Officer U.B. Pravin Rao is retiring on a baffled note, it seems. Algoscale Technologies Inc. founded in 2014 is a Big Data Analytics and Data Science firm incorporated in US with its development center in Noida, India. They are regarded as one of the most reliable companies who has the 100% project completion and on-time delivery record.
GE also set up an e-knowledge center in India to distribute knowledge and technology developments to its business centers. The American company has established a state-of-the-art research and development center in Bangalore. It is also the second-largest GE research and development center in the world, staffed with a vast number of Indian experts. And besides India, they also offshore to the Philippines, a popular offshore location in Southeast Asia, to handle its customer service. With excellent offshore operations underway, the company also shifted its call center to India to offer reliable 24/7 support.
Instead of focusing on the price of the development, 2021 would be more driven towards the process. The focus will be on the working approach as it will enable them to strengthen their development as a whole. And the best approach that a majority of the businesses are focusing on today is agile. Over 71% of the businesses are already following the agile development approach and need the same flexibility in their outsourcing relations as well. This would help them reap the many benefits of outsourcing like less overhead cost, round-the-clock work, better communication, and timely delivery.