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A recent study by Deloitte, based on interviews with industry leaders and clients, showed they all are experiencing a number of common major industry trends.
According to many executives, these processes have already become critical feature during board discussions. Here are the top 3 major thins you’ll want to be into, when working in Outsourcing industry.
Dive into data analytics.
It’s never been so important for managing business and driving performance. Consider expanding the use of data analytics when looking for innovative ways to manage workforce mobility, contract profitability and supply chains. Using data intelligently is can make the difference between seeing your business grow and falling behind the competition.
The data is just a part of the thing – for many companies it’s not a problem to get it. The trick here is having the resources (time and skill) to put your data to good use. Asking the right questions will give you the answers you need to reach your strategic goals.
(Re)Define business presence.
The market is showing a trend towards redefining business presences, as number of key players are looking to build a global presence through a range of different business combinations, such as partnerships, alliances, acquisitions and collaborations. Those who are not going international, will exclude themselves from certain procurement exercises, but, at the same time, increase penetration and enhance local relationships.
That makes the life harder for global actors when it comes to compete on the local level. An increasing number of companies are making a definitive choice between these two models.
Focus on service delivery, not costs saved.
The outsourcing marketplace is moving towards models, where companies measure value less by costs saved, and more by service delivery. That presses the market players to seek and find innovative ways of delivering customer value, while maintaining contract requirements.
This evolution in corporate mindset comes to the limelight for outsourcing industry in 2014. In a new environment, where the performance evaluation is based on more than just one criterion.
That’s what key outsourcing industry players have on their agendas this far into 2014. Companies if diverse sizes and specializations, large and small, are finding themselves flowing with these fundamental trends.