Monday, April 30, 2012
The financial crisis of 2008 slowed business growth across all sectors, this decline was also evident in the outsourcing industry. However, as the economy emerges from the recession, an increase in business outsourcing is also expected. This growth is supported by research from Everest Group's recent outsourcing study, which notes global outsourcing will grow at a rate of 15%. As the economy recovers, a new trend is expected to emerge, focused around the concept of revenue recognition as opposed to cost savings for businesses.
One geographic area that has been improving its ability to provide revenue by recognizing outsourcing opportunities for business is the nearshore Americas region. This region is primarily
comprised of Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Jamaica, Mexico, and Uruguay. These countries are in high demand for outsourcing services, as U.S. companies favor business process outsourcing efficiencies and ease of working with a country closer to U.S. borders.
These efficiencies come from the overlapping bi-lingual capabilities that Latin American countries can offer. Other areas of specialty that have emerged in the region include agile computing, product design, web enablement, and social media services. Companies in this region have the opportunity to leverage their geographic location, infrastructure, latency issues, and cultural affinity, making them more attractive for U.S. businesses and a region for booming future growth.