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For US companies that outsource offshore, one of its greatest benefits is additional support during recessions. While you can always outsource within your territory, a growing number of companies find it more effective to do it offshore. In fact, a lot of key industry players are taking advantage of offshore outsourcing.
Offshoring and outsourcing are similar in that both use outside parties to carry out other business-related duties. Offshoring, however, entails hiring a business in another country to carry out the work for them. Additionally, outsourcing is a great way to recession-proof a business when times get tough. contract or project.
It is because its BPO is the fastest-growing segment of the IT industry. Microsoft is still in tight partnership with the Indian BPO industry. It decided to offshore its back-office operations to India. However, India’s communication problems have long been inflicting its BPO industry. American Express .
By 1999, it signed a $600-million deal with a BPO company headquartered in California — the biggest HR BPO contract during that time. In 2002, the financial giant signed a 10-year contract worth $700 million with a human resources outsourcing company. It is one of the pioneers of the offshoring process in its industry.
It was founded in 2002 in California, where its headquarters are located to this day. Pfizer contracts offshore outsourcing companies for their operations, including manufacturing and sales. To make their onboarding more efficient, Axa Insurance has outsourced a BPO company based in the Philippines.
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