The country takes pride in its relatively young workforce (38.18% of its working population is under 24 years old) and its 6.18 million fluent English speakers. Brazil was dubbed as the IT outsourcing alternative to India in 2010 and has been an emerging force in IT outsourcing since then. However, as mentioned above, the country comes neck and neck with other developing outsourcing locations around the world. India claims to be the world’s second-largest English-speaking country, second only to the United States. Its English-speaking population of 125 million is expected to quadruple in the next decade. Remember, this firm will be an essential part of your business, just like your in-house employees.
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The ‘thing’ prompted the likes of Bhavish Aggarwal, Founder and CEO, Ola, to wonder aloud on Twitter if it just may be cheaper to free cpa questions hire from Silicon Valley instead. Business process outsourcing companies in India, particularly call centers, also offer customer support services that can cater to the global market. These are high-end services for which you need to understand the nature of business and process large volumes of information.
However, as IT services require specialized knowledge and equipment, you’ll have to train your in-house staff and set up the infrastructure for it. IT outsourcing no longer remains daunting if you have a trusted partner like (YTII). YTII helps you mitigate the challenges of working financial forecasting vs financial modeling in an offshore environment, navigating you to success.
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The next step is to decide what activity you want to outsource to an Indian service provider. The first step in outsourcing to India is to understand the outsourcing industry in your niche. While virtual communication tools can help you cross the distance, time zone differences can create a delay in getting the message across.
Present in cities like Bangalore, Hyderabad and Mumbai, the company has over employees. You also benefit from reduced startup cost due to the availability of ready outsourcing infrastructure in India. For example, you don’t have to set up any equipment or technology to perform your IT tasks — the service provider will already have it. Look for a company with good English language skills, dedicated project managers, and transparent reporting channels for effective collaboration. In this step, you are required to evaluate the expertise and specialization of the shortlisted companies. It is advisable to select companies with a successful track record of how to calculate leave pay for employees delivering projects similar to yours, as this indicates they will better understand your requirements and challenges.
- Executives said they would sacrifice over 2% of gross margins, on average, to gain sufficient labor and shorter lead times.
- Offshore outsourcing providers in India also have digital marketing mavens that can help strengthen your brand’s online presence.
- This exercise will help you find and shortlist the right companies for outsourcing your IT project.
- That’s why it may not be preferred by global companies either,” says Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at IT industry body NASSCOM.
- Search for companies that meet your project requirements when planning to outsource in India.
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The development cost in India is 30 to 35 percent lower compared to the US and Europe. You will also be assured of acquiring quality service as the country is among the leading outsourcing destinations in terms of the IT industry. The availability of skilled professionals is another reason why companies choose to outsource to Indian service providers. India’s software companies are highly skilled in advanced technologies and provide precise and top-quality services, making India a smart choice for programming outsourcing.
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Finally, government policies—which have over the years supported the industry—have become less favorable in recent times. For example, at present there is a lack of clarity surrounding the continuation of fiscal incentives the government has used to spur industry development. Meanwhile, the industry continues to be regulated by the Shops and Establishments Act and other laws not tailored to the service sector’s requirements. Adding to the burden, these laws are applied inconsistently from state to state. Axis Bank, which has a 1,000-member-plus technology team, has been addressing the talent war by hiring people from smaller towns to work remotely.
