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Outsourcing trends for a turbulent 2023
INTERESTING ARCHITECTURE TRENDS
Lorem ipsum dolor sit amet consectetur adipiscing elit obortis arcu enim urna adipiscing praesent velit viverra. Sit semper lorem eu cursus vel hendrerit elementum orbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis egestas.
- Neque sodales ut etiam sit amet nisl purus non tellus orci ac auctor.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti.
- Mauris commodo quis imperdiet massa tincidunt nunc pulvinar.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti.
WHY ARE THESE TRENDS COMING BACK AGAIN?
Vitae congue eu consequat ac felis lacerat vestibulum lectus mauris ultrices ursus sit amet dictum sit amet justo donec enim diam. Porttitor lacus luctus accumsan tortor posuere raesent tristique magna sit amet purus gravida quis blandit turpis.
WHAT TRENDS DO WE EXPECT TO START GROWING IN THE COMING FUTURE?
At risus viverra adipiscing at in tellus integer feugiat nisl pretium fusce id velit ut tortor sagittis orci a scelerisque purus semper eget at lectus urna duis convallis porta nibh venenatis cras sed felis eget. Neque laoreet suspendisse interdum consectetur libero id faucibus nisl donec pretium vulputate sapien nec sagittis aliquam nunc lobortis mattis aliquam faucibus purus in.
- Neque sodales ut etiam sit amet nisl purus non tellus orci ac auctor.
- Eleifend felis tristique luctus et quam massa posuere viverra elit facilisis condimentum.
- Magna nec augue velit leo curabitur sodales in feugiat pellentesque eget senectus.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti .
WHY IS IMPORTANT TO STAY UP TO DATE WITH THE ARCHITECTURE TRENDS?
Dignissim adipiscing velit nam velit donec feugiat quis sociis. Fusce in vitae nibh lectus. Faucibus dictum ut in nec, convallis urna metus, gravida urna cum placerat non amet nam odio lacus mattis. Ultrices facilisis volutpat mi molestie at tempor etiam. Velit malesuada cursus a porttitor accumsan, sit scelerisque interdum tellus amet diam elementum, nunc consectetur diam aliquet ipsum ut lobortis cursus nisl lectus suspendisse ac facilisis feugiat leo pretium id rutrum urna auctor sit nunc turpis.
“Vestibulum pulvinar congue fermentum non purus morbi purus vel egestas vitae elementum viverra suspendisse placerat congue amet blandit ultrices dignissim nunc etiam proin nibh sed.”
WHAT IS YOUR NEW FAVORITE ARCHITECTURE TREND?
Eget lorem dolor sed viverra ipsum nunc aliquet bibendumelis donec et odio pellentesque diam volutpat commodo sed egestas liquam sem fringilla ut morbi tincidunt augue interdum velit euismod. Eu tincidunt tortor aliquam nulla facilisi enean sed adipiscing diam donec adipiscing ut lectus arcu bibendum at varius vel pharetra nibh venenatis cras sed felis eget.
The global IT outsourcing market is projected to reach USD 407.29 billion by 2023, according to a new report by Grand View Research, Inc*. This growth will be driven mainly by increased demand for cloud-based services, automation of business processes, and other cost-saving benefits. Furthermore, the increasing adoption of Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) technologies are expected to provide a significant boost to the IT outsourcing market.
In addition, the increasing adoption of open-source software, the growing need for application modernization, and the rising demand for data privacy and security are expected to further fuel the demand for IT outsourcing services in the near future.
Outsourcing gives companies a competitive advantage by reducing operational costs, enabling staffing flexibility, and saving time. Because of these benefits, more companies opt to outsource business processes, prompting outsourcing market growth.
Here are the key trends to watch out for in 2023:
Strategic partnership – Companies now believe a strong strategic partnership with fewer outsourcing companies can ensure business continuity and operational cost savings. A singular (or fewer) outsourcing partner enables stronger business relationships, increases transparency, and induces trust which, in turn, makes reaching objectives easier. Additionally, companies can ensure continuity with an outsourcing partner through a more extended outsourcing contract.
Global delivery – in an analysis published by Deloitte** they state that following the Covid pandemic more and more companies are prompted to adopt flexible working methods. The necessity to be agile, the ability to find the specific talent and expertise wherever it is – because in the new world, geography carries no weight. Another study by Gertner*** reveals “Talent Shortages as Biggest Barrier to Emerging Technologies Adoption”. With the Global delivery approach, the ability to work with the best experts from anywhere and at any time opens the game and expands the bandwidth of relevant players.
Modern Technologies – as the old saying goes “do what you do best, outsource the rest”, this saying stands its ground with software development as well. An outsourcing service provider is an expert in their specific field. As a result, they’re more likely to update themselves about the advancements in technology than an in-house team.
Startup surge – Outsourcing allows small businesses or startups to access the best talents and tools at economical prices. These businesses outsource repetitive tasks to save time and money. Small companies are also less likely to have experienced employees due to their limited payroll budget, and outsourcing enables them to access the best talents.
Go east (Europe) – Revenue in the Eastern Europe “IT Outsourcing” segment was projected to reach US$2.69bn in 2022. And revenue is expected to show an annual growth rate (CAGR 2022-2027) of 17.17%, resulting in a market volume of US$5.94bn by 2027****. Companies in North America like the United States prefer East European countries, like Romania, Ukraine, Poland, and Belarus, for IT outsourcing due to their proficiency in English and cultural similarity.
Also, Eastern Europe has a high percentage of skilled people (including tech professionals), affordable talent, and strong data security.
To conclude, outsourcing IT projects in 2023 would be a wise decision for companies who want to save on costs, benefit from access to a global talent pool, and take advantage of the latest technology. Companies should carefully evaluate and compare their options, and select a vendor that can provide reliable, secure, and high-quality services. Doing so will ensure that the project is completed on time, within budget, and with the desired results.
*https://www.grandviewresearch.com/industry-analysis/it-services-outsourcing-market
**https://www2.deloitte.com/us/en/pages/operations/articles/shared-services-survey.html
****https://www.statista.com/outlook/tmo/it-services/it-outsourcing/eastern-europe
Outsourcing trends for a turbulent 2023
INTERESTING ARCHITECTURE TRENDS
Lorem ipsum dolor sit amet consectetur adipiscing elit obortis arcu enim urna adipiscing praesent velit viverra. Sit semper lorem eu cursus vel hendrerit elementum orbi curabitur etiam nibh justo, lorem aliquet donec sed sit mi dignissim at ante massa mattis egestas.
- Neque sodales ut etiam sit amet nisl purus non tellus orci ac auctor.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti.
- Mauris commodo quis imperdiet massa tincidunt nunc pulvinar.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti.
WHY ARE THESE TRENDS COMING BACK AGAIN?
Vitae congue eu consequat ac felis lacerat vestibulum lectus mauris ultrices ursus sit amet dictum sit amet justo donec enim diam. Porttitor lacus luctus accumsan tortor posuere raesent tristique magna sit amet purus gravida quis blandit turpis.
WHAT TRENDS DO WE EXPECT TO START GROWING IN THE COMING FUTURE?
At risus viverra adipiscing at in tellus integer feugiat nisl pretium fusce id velit ut tortor sagittis orci a scelerisque purus semper eget at lectus urna duis convallis porta nibh venenatis cras sed felis eget. Neque laoreet suspendisse interdum consectetur libero id faucibus nisl donec pretium vulputate sapien nec sagittis aliquam nunc lobortis mattis aliquam faucibus purus in.
- Neque sodales ut etiam sit amet nisl purus non tellus orci ac auctor.
- Eleifend felis tristique luctus et quam massa posuere viverra elit facilisis condimentum.
- Magna nec augue velit leo curabitur sodales in feugiat pellentesque eget senectus.
- Adipiscing elit ut aliquam purus sit amet viverra suspendisse potenti .
WHY IS IMPORTANT TO STAY UP TO DATE WITH THE ARCHITECTURE TRENDS?
Dignissim adipiscing velit nam velit donec feugiat quis sociis. Fusce in vitae nibh lectus. Faucibus dictum ut in nec, convallis urna metus, gravida urna cum placerat non amet nam odio lacus mattis. Ultrices facilisis volutpat mi molestie at tempor etiam. Velit malesuada cursus a porttitor accumsan, sit scelerisque interdum tellus amet diam elementum, nunc consectetur diam aliquet ipsum ut lobortis cursus nisl lectus suspendisse ac facilisis feugiat leo pretium id rutrum urna auctor sit nunc turpis.
“Vestibulum pulvinar congue fermentum non purus morbi purus vel egestas vitae elementum viverra suspendisse placerat congue amet blandit ultrices dignissim nunc etiam proin nibh sed.”
WHAT IS YOUR NEW FAVORITE ARCHITECTURE TREND?
Eget lorem dolor sed viverra ipsum nunc aliquet bibendumelis donec et odio pellentesque diam volutpat commodo sed egestas liquam sem fringilla ut morbi tincidunt augue interdum velit euismod. Eu tincidunt tortor aliquam nulla facilisi enean sed adipiscing diam donec adipiscing ut lectus arcu bibendum at varius vel pharetra nibh venenatis cras sed felis eget.
The global IT outsourcing market is projected to reach USD 407.29 billion by 2023, according to a new report by Grand View Research, Inc*. This growth will be driven mainly by increased demand for cloud-based services, automation of business processes, and other cost-saving benefits. Furthermore, the increasing adoption of Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) technologies are expected to provide a significant boost to the IT outsourcing market.
In addition, the increasing adoption of open-source software, the growing need for application modernization, and the rising demand for data privacy and security are expected to further fuel the demand for IT outsourcing services in the near future.
Outsourcing gives companies a competitive advantage by reducing operational costs, enabling staffing flexibility, and saving time. Because of these benefits, more companies opt to outsource business processes, prompting outsourcing market growth.
Here are the key trends to watch out for in 2023:
Strategic partnership – Companies now believe a strong strategic partnership with fewer outsourcing companies can ensure business continuity and operational cost savings. A singular (or fewer) outsourcing partner enables stronger business relationships, increases transparency, and induces trust which, in turn, makes reaching objectives easier. Additionally, companies can ensure continuity with an outsourcing partner through a more extended outsourcing contract.
Global delivery – in an analysis published by Deloitte** they state that following the Covid pandemic more and more companies are prompted to adopt flexible working methods. The necessity to be agile, the ability to find the specific talent and expertise wherever it is – because in the new world, geography carries no weight. Another study by Gertner*** reveals “Talent Shortages as Biggest Barrier to Emerging Technologies Adoption”. With the Global delivery approach, the ability to work with the best experts from anywhere and at any time opens the game and expands the bandwidth of relevant players.
Modern Technologies – as the old saying goes “do what you do best, outsource the rest”, this saying stands its ground with software development as well. An outsourcing service provider is an expert in their specific field. As a result, they’re more likely to update themselves about the advancements in technology than an in-house team.
Startup surge – Outsourcing allows small businesses or startups to access the best talents and tools at economical prices. These businesses outsource repetitive tasks to save time and money. Small companies are also less likely to have experienced employees due to their limited payroll budget, and outsourcing enables them to access the best talents.
Go east (Europe) – Revenue in the Eastern Europe “IT Outsourcing” segment was projected to reach US$2.69bn in 2022. And revenue is expected to show an annual growth rate (CAGR 2022-2027) of 17.17%, resulting in a market volume of US$5.94bn by 2027****. Companies in North America like the United States prefer East European countries, like Romania, Ukraine, Poland, and Belarus, for IT outsourcing due to their proficiency in English and cultural similarity.
Also, Eastern Europe has a high percentage of skilled people (including tech professionals), affordable talent, and strong data security.
To conclude, outsourcing IT projects in 2023 would be a wise decision for companies who want to save on costs, benefit from access to a global talent pool, and take advantage of the latest technology. Companies should carefully evaluate and compare their options, and select a vendor that can provide reliable, secure, and high-quality services. Doing so will ensure that the project is completed on time, within budget, and with the desired results.
*https://www.grandviewresearch.com/industry-analysis/it-services-outsourcing-market
**https://www2.deloitte.com/us/en/pages/operations/articles/shared-services-survey.html
****https://www.statista.com/outlook/tmo/it-services/it-outsourcing/eastern-europe
