The outsourcing phenomenon has picked up momentum only in the past decade with the advent of the internet. Ever since undersea fiber -optic cables have been laid out, it has helped in boosting internet connectivity across continents. Cheap access to the worldwide web has helped in the growth and evolution of a knowledge economy which has resulted in a redistribution of wealth across the globe. The wave of outsourcing became a flood when sending large amounts of data through the internet to another corner of the world became a breeze.
Outsourcing is not new for the country like India. It was started dates back during 1960s. Business Process Outsourcing (BPO) is the long-term contracting out of non-core business processes to an outside provider to help achieve increased shareholder value. BPO saves precious management time and resources and allows focus while building upon core competencies. After BPO, India has now set its sights on becoming a global hub for knowledge process outsourcing (KPO). Knowledge Process Outsourcing (KPO), a new terminology is evolved for the business related to the patents and intellectual property.
As India has the second largest English speaking scientific manpower pool in the world after the U.S. most of the Global competitors are looking forward to India to outsource their IPR needs related to patent searching, prior art search, infringement and validity search etc,. Companies in the western world realized that sending work offshore proved to be a profitable proposition as the response was even faster than vendors based in the home country.
Today, India can be called as the world’s outsourcing hub. India has been a pioneer in providing outsourcing solutions and has been providing a range of outsourcing services to countries across the globe. Outsourcing to India can help your organization benefit from cost-effective services, high-quality services, reduced operating costs, greater flexibility and faster-time-to-market amongst others.
The following are a list of reasons why companies outsource to India.