Despite the controversy regarding outsourcing, IT outsourcing is catching on among U.S. firms. There are a few reasons why. Read more
“Quality is Job 1”
Many in the U.S. may remember that Ford Motor Company slogan in the 1980’s to 1990’s. Quality was in fact a winning formula for Ford as it gained market share and proved its heritage from the days of Henry Ford. And ‘Total Quality Management’ (TQM) was one of those fads, or flavor of the month in management circles. And like all fads, they come and go, with managers looking for the next “buzz” management strategy to implement. The recent product recalls plaguing Toyota, Johnson & Johnson, and even Ford Motor Company ironically demonstrates how yesterday’s number one strategic initiatives can fall by the way side. That’s why lessons should be learned from past and present product recalls and applied to LPO management. Read more
The Information Technology business in India has been making progress at a rapid pace converting cost benefits and technical superiority into swelling revenues for the last ten years. Although share prices of these IT firms have dwindled amid the recession phase, they are rebounding as a recovery takes form in developing markets. Read more
Dual income, duel careers. We outsource knowledge, so we can get more time to play with our kids. However, does that always happen? That’s a troubling thought
1. What is a business process? Read more
There is a growing interest in outsourcing among businesses to outsource their business processes, started as a cost saving technique but now business process outsourcing is considered as a strategic initiative for companies to stay competitive in the global market. As the size and complexity of the outsourcing project grows, companies need to mange multiple outsource vendors, success of BPO depends on coordination between different vendors located in different countries and time-zones Read more
The concept of outsourcing has provided the best opportunity for the Asian countries to establish themselves on the world map as economic giants. The question is interesting and intriguing: the century of Asian giants is coming? Yes, we are talking about China and India. What you think made them become one of the strongest economies of the world? It was the strength of their workforce that could withstand the demands of almost the whole world.
India’s IT and BPO industry generates around $40 billion annually, though the current financial crisis will slow down their growth targets, they hope to see more opportunities in the long run as the western companies want to cut cost by sending work to India. Indian outsource body Nasscom predicts that there might be slow growth for a period of one year for the Indian IT companies. Already the Indian IT companies are slowing their hiring and expansion plans due to credit crunch in the global market and Nasscom reduced the outsource market growth target for the next year.
After the success of Business Process Outsourcing (BPO) in big corporations, BPO trend is slowly picking up in mid-sized and small businesses. Nelson Hall, BPO research firm predicts the global BPO market will reach by $450 Billion over the next four years. However, the BPO adoption in mid-sized and small businesses is very low compared to big corporations due to following reasons: Read more
Any business either big or small must always deal with various various paper based forms to handle their invoices and bill payments. As it deals with cash flow of the company it must be managed and processed properly. There are several new and promising technologies like online bill payment, electronic invoicing, and P-card are available that promises to remove the paper based processing from the accounting department. Let us face it, these technologies may reduce the paper documents but cannot eliminate completely. According to Aberdeen Group research report 80% of invoices come in paper format and this amount is more for small businesses. Also the invoices comes in various shapes and sizes making it difficult for companies to process it. Read more