3 out of 4 executives say that outsourcing is needed to get through this tough economic time.

As we move ever further into the information age, being able to provide the best service becomes a cutthroat competition. The latest and most innovative technology is needed to ensure you are ahead. But unfortunately there is an ever increasing budget constraint due to the global recession, especially on IT, forcing the emergence of new business to cater to the needs that are not being met. This in turn provides for more job opportunities to become available.

Capital investment for equipment is not really the bulk of the expense, its maintenance of the system and asset that takes a bigger slice of the expenses.  Thus having cheaper maintenance costs makes IT outsourcing a better option to remain competitive.

The IT industry was already utilizing off shoring even before the start of the recession and is now planning to expand it outsourcing activities further.  IT majors are keeping an eye on Belgian outsourcing deals from companies such as AXA (NYSE: AXA) and Dexia Bank who are seeking to explore off shoring some of its back-office projects. It has been estimated to be $6.5 billion worth making it a race to chase such a huge market.

Even in the healthcare sector, companies are realizing the benefits of outsourced productivity. Fortis Healthcare Limited (BOM:532843) already signed a deal with HCL Technologies (BOM:532281) to provide IT services for it operations. One of which is its ambulances which would be have the latest technology to ensure a more efficient operation.

Another example is Lovelace Health Systems which recently signed an agreement with TriZetto Group, a leading privately held healthcare information technology company. Under the agreement it is expected that it would optimize business operations and help move toward Integrated Healthcare Management through BPO services via their own systems.

In the Philippines there are a number of BPO companies that provide IT systems maintenance and updating as well as Healthcare processing and assistance. Being one of the top employees in this field, the Philippines can easily adapt with the changing needs of the times to cater to not only large companies but with small to medium scaled enterprises that could not afford to dole out as much as larger companies could. This would provide for a fairer playing field as they would be able to afford quality service at a cheaper price.

Author: John V.

Author: Outsourcing Insider

Outsourcing Insider consists of a team of regular blog contributors who writes topic about outsourcing and its relation to other industries like social media, finance, healthcare, sales and marketing, contact centers, and data and research.