As a follow-up to a recent article, the IT Industry is riding the wave of change in all fronts from operations upgrades and expansions to more adverse developments, and on what better board could it have ridden on but the outsourcing community.

Competition is stiff in the outsourcing  industry, which is why outsourcers really have to perform in order to not just meet their clients’ expectations, but to exceed it.  Not to mention the sometimes extremely harsh public scrutiny that outsourcing companies are subjected to. Outsourcing companies are a dime a dozen now, and it’s easy to go from one to the other, especially if the one you’re with doesn’t deliver.  Just take a look at the Satyam (NYSE:SAY) - Punjab & Sind contract, which has now become the Wipro (NYSE:WIT) - Punjab & Sind bank contract.

The downpour isn’t a torrent anymore …The world is still recovering from the effects of the global economic crisis. And while it may be years until everybody’s able to go back to pre-crisis form, most industries, including the outsourcing industry, now have a sunny outlook for the future.

Last December, I wrote an article on Infosys’ (NASDAQ:INFY) big week, wherein the outsourcing company scored numerous deals and expanded its business in multiple areas around the world. However, since ringing in the New Year, it seems that, at least for now, the company has lost a little bit of its steam, and acquisition of contracts have waned.

A day before the release of the 4^th quarter financial results of outsourcing company Convergys Corporation (NYSE:CVG), they announced plans to lay off many of its employees, without disclosing how many and which locations would be affected.

When I first heard the words “Security Outsourcing” together, the first thought that came to my mind is the word oxymoron. Don’t get me wrong, I don’t have anything against the enterprise; it’s just that putting the two words together seemed rather contradictory to me. Anyway, the reason I bring this up is because I recently read an article on how Forrester Research (NASDAQ:FORR) speculates that security outsourcing may be the newest trend in outsourcing for 2010 dispelling previous notions that security outsourcing is in decline. To define the term briefly, security outsourcing is the process of hiring an outsourcing company that handles security such as SAP (NYSE:SAP) or data management to maintain data security for your company. And according to Forrester Research, this is the next up and coming trend for outsourcing.

Keeping abreast with the world is certainly a difficult job, especially now with social media, blogs and other such sources all over the place; it’s becoming difficult to know exactly where to look.  I myself have different favored sources of information, including those for news headlines, and social media, that I search regularly.   On one such occasion, I came across the Top 10 Business Deals of 2009 from TIME.com.  With regards to outsourcing, the item included in the top business deals for 2009 was the HP (NYSE:HPQ) - EDS deal.