What to Look For When Choosing an Outsourcing Partner
In the United States, the 1990s was a time of substantial hi-tech growth – where offshore outsourcing opportunities reached new heights and achieved a high level of success, with IT services moving to India to tap into top talent. During this time, processes were transferred to Asian countries. The launch of the North American Free Trade Agreement in 1993 was signed by the United States, Mexico, and Canada as a way to embark on the most significant trade undertaking between these countries that would result in increased economic growth output, create numerous jobs abroad, and build foreign direct investment.
The U.S., Mexico, and Canada wanted to build long-term international partnerships outsource business processes to help companies operate efficiently. Move parts of manufacturing and tedious operations overseas to seize advantageous outsourcing opportunities by neighboring countries.
- More than half the IT outsourcing projects are not delivered on time, exceed the budget, and constantly move project management timelines, causing expensive project realignment.
- Remember to choose a vendor wisely and ensures successful project timelines and task dates are in chronological order of events.
- Clear communication and project/product activities are understandable and documented by a project manager.
- Know what tasks need to be accomplished within the project scope and deliver both parties agree upon dates.
- The duration of tasks and dependencies between tasks are added to the chart timeline, and project management tools are used for transparency and smooth project execution.
Today, global outsourcing is at 92.5 billion U.S dollars in revenue. Companies are now using outsourcing strategically to access specialized skills such as energy, healthcare, pharmaceuticals, travel, transport, telecom, and media. Organizations can focus on solving capacity issues, business management, budgeting, planning and production, and creating goods and services.