Trends That Will Change Your Perspective On Outsourcing
Outsourcing is booming in popularity in several industries, and this is especially true in the IT industry. In the last decade, outsourcing has excelled and thrived on providing considerable help and benefits to companies.
The advancements that have occurred in outsourcing speak to its tremendous growth and success as a service. If you are unsure about outsourcing, it's time to rethink based on all of the possibilities and opportunities that it provides. Here are twelve statistics and trends that will change your perspective on outsourcing in the IT industry:
84.2% Of Outsourcing Relationships Begin In The U.S.
Another one of the main trends that will change your perspective on outsourcing is that most outsourcing partnerships originate in the United States. This is because business competition in the U.S. is highly fierce, and outsourcing allows these companies to stand out.
70% Of IT Outsourcing Clients Do So To Reduce Costs
This is one of the key trends that will change your perspective on outsourcing. Outsourcing allows companies and businesses of all sizes to significantly reduce their operational costs, stimulating growth and increasing revenue. Consequently, outsourcing is worth considering.
IT Outsourcing Revenues Are Expected To Reach Over $435 Billion By The Year 2028
The global IT outsourcing industry is steadily advancing and growing each year. By 2028, IT outsourcing is expected to have earned $435.89 billion in revenue as more businesses turn to outsource to improve their capabilities.
The Most Outsourced Service Is Robotic Process Automation (RPA)
One of the main trends in outsourcing is adopting artificial intelligence and automation. Robotic process automation can complete tasks and operations expertly without making any errors, wasting time, or compensating an employee.
Almost Half Of Businesses (48%) Are Increasing RPA Adoption
As robotic process automation technology continues to advance, businesses are increasing their adoption of RPA. Almost half of companies are increasing their use of RPA to increase their efficiency and profits.
IT Outsourcing Is The Main Enabler Of Cloud Services
Cloud computing refers to online platforms to carry out processes, store data, communicate, and more. Cloud-based services are heavily used by IT outsourcing because it allows big data to be stored safely, cost-efficiently, and virtually.
Data Security Is The Biggest Risk For IT Outsourcing
Outsourcing involves bringing a third-party company into your business's internal network. Because of this, 45% of companies are concerned about data security for IT outsourcing. However, you can mitigate this risk by creating contracts with your provider to protect your data.
44% Of Chief Information Officers Are More Willing To Outsource Than They Were 5 Years Ago
Outsourcing is growing fast, and it has excelled exponentially in the past five years. Almost half of the CIOs are more willing to outsource now compared to five years ago, suggesting serious growth for IT outsourcing.
300,000 Jobs Are Outsourced Offshore Annually
Outsourcing creates so many job opportunities all over the world. Offshore outsourcing refers to the use of outsourcing providers from other countries. This stands out as one of the trends that will change your perspective on outsourcing because it suggests growth, despite the pandemic.
83% Of IT Leaders Plan To Outsource To A Managed Service Provider (MSP) For Security In 2021
Cybersecurity threats are a huge issue for businesses in any industry. Because of this, companies are turning to established managed service providers to increase their security and protection from external threats.
Businesses With Over 50 Employees Are 66% More Likely To Use Outsourcing Compared To Smaller Businesses
Businesses of all sizes can utilize outsourcing for success; however, it is much more prevalent among mid-size and large organizations. Outsourcing gives small businesses a great opportunity to expand and grow, but leaders must be willing to hand over operations to an external service provider.
IBM Has The Highest Outsourcing Income At Over $76 Billion
IBM stands out from the rest when it comes to information technology. IBM currently has the highest outsourcing income at $76.5 billion.
These stand out as the 12 trends that will change your perspective on outsourcing. As outsourcing continues to grow and develop, the advantages of outsourcing get even better. If your business considers outsourcing for information technology or even for another field, it is a lucrative investment.
What Are The Advantages Of Outsourcing?
Outsourcing is a great resource for businesses to utilize. There are many reasons why companies should consider outsourcing, and these stem from the advantages that outsourcing provides. Listed below are a few of the main benefits of outsourcing:
1 Fewer Departments & Employees
When you outsource, you have an external team carrying out your company's functions. If you want to add capabilities to your organization without breaking the bank, outsourcing is a great way. You can make use of expert professionals without having to create a new department.
2 Lower Operational Costs
Lowering costs is one of the main driving factors for businesses that turn to an outsourcing provider. Outsourcing companies offer affordable and competitive rates for their services without compromising the quality of work.
3 Morale Boost
As team members get more time to focus on core competencies, morale will be boosted significantly. This stands out as one of the main reasons to utilize outsourcing, since it promotes a positive and productive work environment.
Reasons Why Companies Should Consider Outsourcing
If you are a business owner that does not consider outsourcing a worthwhile endeavor, it might be time to change your perspective. The incredible advantages of outsourcing should be utilized by more companies. Here are some reasons why companies should consider outsourcing:
1 Improve Efficiency
Outsourcing and efficiency go hand-in-hand. An outsourcing company is strategically designed to maximize efficiency for its clients. As they complete your operations quickly and expertly, you save valuable time. Improving efficiency is one of the main reasons why companies should consider outsourcing.
2 Increase Profits & Revenue
If you want to increase your profits and revenue, outsourcing could be a great way to do so. When you work with an outsourcing provider, you get to utilize expertise for a fraction of the cost compared to hiring, training, and paying an in-house team or department.
3 Access More Resources
Access to resources is one of the reasons why companies should consider outsourcing, especially for small and mid-size businesses. Small and mid-size businesses can take advantage of an outsourcing company's extensive resources, tools, and technology to operate on a global scale and gain a competitive advantage.
4 Expand Your Offerings
If you want to expand your business's offerings, outsourcing allows you to do so for a low price. In addition, companies that use outsourcing can add new services, enhance customer satisfaction, and more, so it is one of the popular reasons to utilize outsourcing.
5 Foster Sustainable Growth
One of the main reasons to utilize outsourcing is to foster sustainable growth for your business. Whether your business is large or small, outsourcing helps your business accomplish its goals to grow, advance, and ultimately achieve success.
About Us – Rely Services
Rely Services is a leading business process outsourcing company serving clients with exceptional business solutions and services. At Rely Services, we are passionate about providing high-quality services that will add value to your business. For more information about how outsourcing can help your particular business, please Contact Us Here today!