Several offshoring Indian companies may work within a five to twelve-hour difference from an American or European company. These include recognizing electronic contracts, supporting e-filing of documents, and preventing cybercrime. When you combine that with movements like Digital India and economic reforms like GST, offshoring to India becomes how to calculate margin of safety even more desirable. Since the introduction of the Information Technology Act, 2000 (ITA-2000), the Indian government has played a significant role in giving tax-related and other financial benefits to businesses. IT is one of the top industries in India, and the Indian government has favorable policies that make the country an excellent investment and offshoring destination. American Express is a multinational financial services corporation that decided to offshore to India.
In this article, we will explore why offshoring to India is increasingly popular and highlight five major companies engaged in the practice. We will also discuss the major advantages and challenges of offshoring to India. For some companies, offshoring to India is a strategic necessity for cost savings. It’s essential to check references and reviews of potential outsourcing companies. This will help you get a sense of their reputation, reliability, drawing account overview usage and features accounting entry and quality of work.
Top 40 BPO companies in the Philippines
Most companies have now outsourced work to India to save costs and scale their business activities. Outsource Accelerator is the leading Business Process Outsourcing (BPO) marketplace globally. We are the trusted, independent resource for businesses of all sizes to explore, initiate, and embed outsourcing into their operations. Outsourcing to India grants companies cost-reduction benefits without sacrificing the quality of the output. According to Statista, the Indian information technology and business process management industry will employ around 5.4 million people in fiscal year 2023.
As a preventive measure, signing a non-disclosure agreement (NDA) with your outsourcing partner is advisable. Given the differences between Indian and US laws, drafting clear contract terms becomes paramount. It’s wise to seek legal counsel, especially for high-stakes, big-budget projects. Another aspect is the time zone difference, particularly pronounced if you’re based in the US, requiring work schedule adjustments and effective coordination.
Ensuring Quality Standards When You Outsource to India
This way, they can focus on core activities that are essential to growing their business. With 15,000+ articles, and 2,500+ firms, the platform covers all major outsourcing destinations, including the Philippines, India, Colombia, and others. Examples of these services include data management, data entry, data mining, data processing, and other types of back-office support.
India’s outsourcing competitors
Establish robust project management practices, utilise collaboration tools, and visit the centre when necessary to build trust and ensure success. Indian outsourcing companies ensure quality through stringent quality control processes, certifications like ISO, CMMI, and Six Sigma, regular audits, and continuous training of their workforce. They also prioritise client feedback and collaboration to improve service quality. An NDA is an agreement signed between the client company and its partner software development company. It acts as a formal agreement to protect the privacy of the foreign company and keep the software development project confidential.
- Keep in mind as well that while keeping outsourcing costs manageable is important, priceshouldn’t be your only criterion.
- Sustainability has become a critical issue for businesses worldwide, and Indian outsourcing firms are no exception.
- India has implemented data protection laws to protect the privacy and security of personal data.
- Over the years, India has gained popularity as an outsourcing destination across the globe.
- This means that a small business with a limited budget may find it challenging to find quality outsourcing vendors at competitive prices.
Similarly, to India, Vietnam is also becoming a popular software producer for many global technology companies, making it a budding global outsourcing destination. AMEX offshores its back-office operations and other business process outsourcing tasks to India. The company also partnered with Tata Consultancy Services (TCS), a multinational information technology and outsourcing company in India. Communication and project management are critical factors in outsourcing success.
And with an increasing number of IT and service vendors setting up businesses in India and China, the Indian offshoring industry continues to grow rapidly. Instead of getting discouraged by them, treat them as stepping stones to your success. In outsourcing as well, you can treat all the challenges and problems as stepping stones to your outsourcing success. The next important service that most organizations, be it an established enterprise or a budding startup, outsourcing product development could help you get the product developed. You can even ask for a prototype or MVP of your project before they move to create the final product. If you have a mobile app idea, outsourcing app development could help you get all the required features and functionalities to make it successful.
India outsourcing allows businesses to significantly reduce operational costs, enabling them to allocate resources more efficiently. The cost savings extend across various domains, from business process outsourcing (BPO) services to IT outsourcing services, making it an ideal choice the balance sheet for companies aiming to optimise their budget. It offers IT services, IT consulting, and software project management, to companies across the globe. The software outsourcing company operates in 52 countries, including Indonesia and New Zealand.