Offshoring

Overseas outsourcing, or better known as Offshoring, involves the relocation of a firm's business process to another country. This term is very broad term that covers a variety of outsourcing processes and procedures. US companies have benefited from offshoring jobs to low cost countries where wages are typically lower. It has become a global business trend today and continues to increase rapidly.

Technology advancements in software tools, information technology and the web has made it possible and easier for companies to offshore and do business in other countries. Offshore companies offer various outsourcing services such as data entry, IT services, programming, call centers, BPO, relationship management, infrastructure, community management, medical transcription, operations and on-site services. It also includes communication and networking.

Most firms find it practical to employ offshored jobs as a way of lowering their costs. They have taken advantage of cheap labor in other countries, such as India, China and the Philippines. Low labor costs in other countries has made it suitable for IT companies, insurance and financial firms and other occupations such as journalism, law and medicine to offshore. Offshoring also helps them save time with regards to hiring, training and management of staff and allows them be flexible by contracting overseas agents to execute various business tasks. With offshoring, companies can gain an edge over their competitors.

There are many benefits and financial perks that comes with an offshored business. It has benefited not only major corporations but small organizations as well. The process not only extended their business and improved their marketing strategy but maximized their profits as well. Considering the number of advantages it offers, Offshoring will continue to expand and create an impact on the way we work and how we do business.