It expects the market valuation to reach USD 7.8 billion by 2025, at a CAGR (compound annual growth rate) of 20.2%. This will prevent them from disclosing sensitive information related to your software project to a third party. According to the India Skill Report 2021 by Wheebox, 48.27% of IT talents who took their employability test scored above 60%, making them highly employable. Similarly, a software developer in Switzerland earns CHF 10,200 (USD 1,078) per month.
The difference is substantial if you are in the US, and you will need to find a way to adapt to it. An insider’s view on why remote and offshore staffing is radically changing the future of work. The country takes pride in its relatively young workforce (38.18% of its working population is under 24 years old) and its 6.18 million fluent English speakers. However, as mentioned above, the country comes neck and neck with other developing outsourcing locations around the world. Your team may also need to adjust to and accommodate social and cultural practices of the vendor.
Language Advantage of Outsourcing to India
When it comes to finding offshore outsourcing partners, some of the most obvious options might yield the best results. There are several internet markets available that make offshore IT outsourcing more affordable and manageable. These online marketplaces connect FREE 7+ Profit and Loss Statement Forms in PDF businesses with hundreds of vendors from across the world in order to provide the most relevant matchmaking and optimal outcomes for basic project management requirements. You can look for people based on their talents, geography, category, services, and reviews.
Take into account their experience in your industry or a specific domain. It is advisable to select companies with a successful track record of delivering projects similar to yours, as this indicates they will better understand your requirements and challenges. India’s outsourcing industry began with outsourcing back office work by global airlines, which IT companies then followed.
In a recent survey, 80% of European and US outsourcing firms ranked India as their number one outsourcing destination. The National Association of Software & Service Companies (NASSCOM) also reported that almost half of all Fortune 500 companies choose to outsource software development to Indian outsourcing firms. Read our well researched article on – Preferred Outsourcing Destination – India or Philippines, to know how India fares in comparison to Philippines.
Top 10 IT Outsourcing Companies In India 2023
All in all, it is the act of joining hands with an expert to get your tasks done. InfoStride is a global leading provider of IT services and solutions to clients worldwide. Our team of 250+ skilled developers, engineers, testers, business analysts, consultants and other experts is at the forefront of helping companies bring their unique ideas to life.
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. India has a huge IT talent pool specializing in software application development, mobile app development, machine learning, custom software development, and other latest technologies. India is a popular software development outsourcing destination due to its robust tech ecosystem, a large IT talent pool, and low cost of operations. One of the key reasons why businesses want to outsource their projects to an IT outsourcing services company is the availability of a big and diverse pool of skilled labour. Every year, more than 3.1 million graduates, 300,000 postgraduates, and over 500,000 engineering students graduate from Indian engineering institutes and colleges.
Over the years, outsourcing has developed into an industry of its own with countries like India, China, Malaysia, and many others becoming the most preferred locations for countries that want to outsource. A large segment of factory goods and services rely on the combination of technical skills and labor which is supplied by India. There are a number of reasons why manufacturing companies prefer to outsource to India. Decreased labor costs, quick delivery, availability of services and indirect cost savings to name a few. Wipro Limited is an Indian IT company that provides a range of services from software development outsourcing to consulting services.
Outsourcing to India
They are the second most affected country by COVID-19 (second to the USA). Besides that, some of their employees can’t provide equipment for themselves during the lockdown. However, this may fall through with the high attrition rate in India’s BPO sector.
- A direct result of this is that companies need to look to outsourcing work in an effort to remain competitive in the global market.
- This progress in the telecom sector took place because service providers are enthusiastic about adopting new emerging technologies such as real-time data analytics.
- India is part of the global economies, and with globalization, it has opened doors for trade, investment, job opportunities, language, and cultural assimilation.
- Look for firms with impressive track records, positive reviews, and a varied portfolio of successful projects.
- This includes tasks that don’t have to be performed in-house, like customer support, data entry and more.
- However, you need to carefully chalk out a plan before partnering up with any Indian outsourcing service provider.
The latest Glassdoor data on software engineers’ per-hour salaries shows that hiring a full-time programmer in the USA would cost a company $91,156/ annum. It is ten times more than hiring a full-time developer in India at $ 9751/annum. Therefore, we recommend that you sign a non-disclosure agreement (NDA) with the outsourcing partner you have. Indian laws are quite different from US laws, so clients need to mention some demands based on a contract. Be careful with this aspect and even consider hiring a lawyer, especially when we are talking about big-budget projects that involve a lot of money.
Shipping and transportation companies usually make a small profit from their shipments. With this in mind, it is efficient to outsource their non-core functions to BPO companies. An example of processes they can outsource is customer service and inventory management. Is one of those companies that invested in setting up a research and development center in India. The company invested roughly $130 million to equip its center with the latest tools and technology.
However, with globalization, these opportunities are slowly leveling out. Operations outsourcing providers will look to automate as much of their workflow as possible – the current growing trend of robotic process automation (RPA) for time consuming, repetitive work. This will lead to redefining the roles for humans, most likely by starting to offer innovation services. Better pricing flexibility The cost of living in countries like the United States is a lot higher than in many other countries. This makes American labour more pricey, especially when each individual’s taxes, pay package, benefits package, equipment, and insurance are added together. Outsourcing to India drastically cuts overhead costs by removing these burdens.
Top Outsourcing Destinations within India
This means that a small business with a limited budget may find it challenging to find quality outsourcing vendors at competitive prices. Moreover, as per Coursera’s Global Skills Report 2021, Indian youth excel in fields like cloud computing, operating systems, software engineering, web development, and theoretical computer science. Besides, other operational costs like office space rent, electricity charges, etc., are relatively less expensive in India.
Trigent is a leading offshore enterprise product and software development company with extensive experience of over 22 years. They also have a track record of rolling out 300 successful projects in the past 3 years alone. Trigent also makes it in the top 10 IT Outsourcing Companies in India list curated by Clutch, Quora, etc. When it comes to outsourcing, there are a number of services that companies outsource to India nowadays. Whether it is accounting services, payroll processing, insurance services, data management, legal services, or any other service, India is the country to choose for outsourcing all services.
For decades, India has been the world’s favorite destination for outsourcing. According to Deloitte, establishing shared services with India was still the first choice for industries ranging from consumer products and financial services to energy, telcos, media and entertainment. Since they share a language with India, English-speaking countries were the biggest customers to the Indian outsourcing industry. According to the Indian Brand Equity Foundation, the United States accounts for the lion’s share of India’s IT outsourcing revenue – a whopping 62 percent – followed by the United Kingdom with 17 percent.
As establishing this in-house requires lots of time and other resources, it’s best to outsource it to Indian service providers. Founded in 2004, Netgains has been assisting organizations globally with its IT software needs with diverse solutions from design, development, application development to internet marketing. For the past 14 years, they served more than 500 clients as the IT outsourcing partner with a consultative approach.
Outsourcing companies also maintain uninterrupted communication channels with clients by providing high-speed bandwidth via satellite connectivity, submarine cables and fiber optic networks. India remains unmatched when it comes to its vast pool of skilled and talented human resources. The country has a population of over 1.2 billion people and around 3.1 million graduates are added to the workforce each year. India also holds the distinction of being the largest English speaking nation in the world, larger even than the US and UK combined. Apart from the vast numbers, is the quality of talent that attracts companies wishing to outsource.
This includes tasks that don’t have to be performed in-house, like customer support, data entry and more. Their team includes highly skilled software engineers, web application developers, UX/UI designers, 3D experts, CMS, Marketing Analyst, and support. For instance, you are getting an MVP developed by a remote developer or outsourcing company in India.
It added 22,600 people in the last financial year, taking its overall headcount to 614,795. Maxicus derives its name from its goal of Maximizing Customer Experience. We are an independent business unit under the Kochartech umbrella, functioning as a technology driven Back Office Operations vertical.
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