Outsourcing in simple words means to supply or import services with the help of a foreign client. With time, this unique way of getting things done is getting popular in India. Outsourcing has become a very famous global practice and a lot of big and small companies are indulging in these activities. Outsourcing is turning out to be a very crucial way of getting things done in almost every sector be it IT, Content creation etc. A lot of A listed countries such as US, Australia often tie-up with small countries for outsourcing essential services. There are a lot of advantages and disadvantages of outsourcing to India but here we will know benefits that outsourcing has in for India which we will be discussing in detail in the following blog, so stay tuned.
Top 5 benefits of outsourcing in India
India has a very friendly outsourcing policy owing to the reason that a lot of companies in India are dependent on supplying solution to foreign companies. This the reason that the outsourcing policy of India is very relaxed as compared to other countries.
Skilled work-force is the second most important thing that foreign companies look for and India is slowly turning into a hub of pooled talent. The companies which indulge in outsourcing often hire workers who possess the necessary skills to complete the task with ease. Hence, foreign companies are more reluctant to procure talent from India.
Low cost, is one of the major and most important factors that attract overseas companies to India. The cost of procuring from India is relatively lower than any other country owing to the difference in the wages. According to a leading report on outsourcing, foreign companies save up-to 60% of total costs while procuring from India and this is very huge.
Advantage of the time zone is one of the biggest advantages that foreign companies get by working with India. There is a very big difference in the time zone of India and west, which proves to be very helpful for both the supplier and the client. By the time the overseas office is closed, the work is completed here and thus delivered on time without any hassle.
The greatest benefit of outsourcing is the distribution of the risk factor. If a company hires his workforce to complete a project then the whole risk may have to beared by the company alone. While, if in the same scenario a second company is also involved then the risk is divided between the two. Not only this, but the second company which comes into play will also try to eradicate every single risk that comes in the way.