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The global software development outsourcing market is projected to reach $1.06 from 2020 to 2027. Recent studies highlight the growing trend of outsourcing in the tech industry. According to a 2022 survey by Commit, outsourcing for startup software development is expected to increase by 70% between 2022 and 2023.
Let's delve into the three primary types: Business Process Outsourcing (BPO) Business Process Outsourcing involves contracting non-core business activities to external service providers. According to Deloitte's 2020GlobalOutsourcing Survey, 70% of companies cite cost reduction as a primary reason for BPO adoption.
Currently, about half of P&G’s innovation comes from collaboration with a number of globaloutsourcing partners. Outsourcing allows us to cut costs, access skilled experts, reduceoverheads, get flexible staff, increase efficiency, reduce turnaround time and generate more profit.”
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