7 conclusions about state of the outsourcing industry – following World Outsourcing Summit 2013
Outsourcing World Summit – summary
Following Outsourcing World Summit held this year in Phoenix, here are a few conclusions based on participants opinions regarding the future of Outsourcing industry:
1. Outsourcing has become a people business based on strategic relationships where everything is a service and anything can be outsourced – basically outsourcing made the step from being an activity based to being a strategic holistic approach used across the boarder to deliver inovation;
2. Outsourcing became one of the fastest growing line of business for many of the top world corporations;
3. 80% of the customers outsource in order to improve their operating models while 72% of customers look for long term cost savings rather than short term cost reduction;
4. In the past years Outsourcing made a big step further becoming a “science” which incorporates discipline, certification for professional level, tools, knowledge, sharing management etc; “Started in the age of “In” moved to the age of “Out” and now we are in the stage of “Co” – creation with strategic partners in order to generate more value”.
5. Because the way we do business today, this transformed the economy into a “relationship based economy” type – as a result the outsourcing leaders have to have more focus on innovation, talent and process as the key strategic areas.
6. Outsourcing providers structured differently their teams in order to generated value – if before they handled more customer relations face to face now they have a more centralized approach;
7. Keeping talents inside an outsourcing organization is considered a as a top priority as more and more companies have difficulties to retain their talented employee.