Outlook brightens for Indian Outsource vendors
June 14, 2009
All Doubting Thomases can now rest in peace. There are reports pouring in that India is back to where it belongs — right on top of the outsourcing heap! Tune in to the latest Wall Street Journal (WSJ) article.
Citing the findings from the 2009 edition of the Black Book of Outsourcing, the WSJ article reports that Indian entity HCL Technologies Ltd. tops the list of outsourcers this year and nearly 94% of companies surveyed said they would definitely consider India as an outsourcing destination for the right price, second only to the U.S. market! This pegs Indian vendors far ahead of their competitors in emerging markets in the Philippines and Eastern Europe.
Surprisingly, despite the dust kicked up by scam-tarnished Satyam, Indian companies scored high on trust and accountability factors. Three Indian companies, namely, HCL, Infosys Technologies Ltd. and Tata Consultancy Services Ltd. figured in the list of top 10 of outsourcers with the highest accountability, transparency, and trust!
All this sends home one clear message to the outsourcing community; that the “negative stimulus” from Obama government hasn’t dampened the prospects for Indian vendors. If anything, the outsourcing trend has now become synonymous with globalization, according to one industry expert.
There are a few warning signs however. For all practical purposes, customers are now wary of making “minimum commitments,’ i.e., guaranteeing a certain quantum of projects to the same vendor. They feel safer spreading their risk in various baskets, finds out the CIO magazine.
In addition, with the uncertainty looming ahead, clients are likely to demand, greater flexibility in service delivery models, bigger savings and better quality of service from their offshore partners, says the Black Book of Outsourcing.
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Good to know that the Indian outsource vendors are thriving in this global recession. I am sure that they will come out of the recession by next year.
A very relaxing note for all the employers and employees in India. Feels good to be back at the top and have the same enthusiasm, hope and expectation from the market.