| Recession or not, work must continue and hence | | | | for this business practice. Outsourcing non-core |
| it’s not surprising that there has been no let-down in | | | | functions allows professionals to attend to key |
| outsourcing. In the light of the current economic | | | | business needs. Companies have also discovered that |
| downturn, more and more companies are planning to | | | | adopting outsourcing as a strategy to reduce costs is |
| outsource either because they’ve cut full-time staff | | | | the ideal solution in the bid to sustain their shrinking |
| or because they’re simply unable to hire full-time | | | | profit margins and IT budgets. Quality improvement is |
| staff. | | | | also cited as one of the biggest benefits of global |
| Making the best use of Outsourcing | | | | sourcing. |
| Achieving operational efficiency to mitigate bottom line | | | | Closing Thoughts |
| pressures, and adopting stringent cost cutting | | | | The maturing of the off-shoring industry over the |
| measures are the need of the hour for companies | | | | years has lead to a scenario where outsourcing is no |
| reeling under the effect of the economic recession. | | | | longer regarded as a mere tool for cost-cutting but is |
| Off shoring is a practical solution to stay afloat during | | | | being accepted as a strategic tool for business growth |
| recession, by making use of the services of external | | | | and overall business development. This is further |
| providers. Some of the strategies which companies | | | | aided by the fact that generally outsourcers are |
| can follow to maximize returns from outsourcing are | | | | equipped with higher skill sets and are subject matter |
| highlighted below: | | | | experts in their specific fields. |
| During an economic down turn, buyers may need to | | | | Recession will not derail outsourcing. The outsourcing |
| reduce the number of offshore suppliers they use and | | | | experience has been overwhelmingly positive for most |
| partner only with those companies that have high | | | | companies who now make smarter decisions in |
| levels of project management skills and the ability to | | | | choosing offshore service providers capable of |
| deliver solutions at competitive rates. This strategy is | | | | delivering the best results at cost effective prices. |
| important to remain viable and retain customers in the | | | | Outsourcing is on the upswing and a recession |
| long run. | | | | economy is only one reason for this trend. |
| Companies need to move to low cost destinations | | | | Companies looking at outsourcing software |
| – The trend is fast catching up with many top firms | | | | development projects are increasingly giving Thailand, |
| opening their offices or partnering with product | | | | an English-speaking outsourcing destination, a second |
| development companies in newer outsourcing | | | | look. IT professionals in Thailand and Vietnam are at |
| destinations like Thailand, Vietnam, Malaysia, and Sri | | | | par with the best in the world, yet they come at a |
| Lanka to lower costs and get added benefits. The | | | | percentage of the cost. Mustang Technologies |
| recession is opening new opportunities and newer | | | | established in 2001 was set up to meet the increasing |
| destinations. | | | | global demand for high-quality, affordable custom |
| Opt for flexible payment structures and shorter | | | | software development and e-commerce services. |
| contracts. | | | | Based in Bangkok, the company effectively works |
| The benefits of outsourcing far outweigh the initial | | | | with geographically dispersed teams, providing high |
| challenges that companies may encounter while opting | | | | quality, software outsourcing services. |