Why Go Offshore

1. WHY GO OFFSHORE? Here is where your presentation begins

2. What is offshoring? Offshoring is a term used in economics and finance to describe the practice of moving a business process from one country or region to another. In logistics terms, it is an arrangement in which an organization establishes a subsidiary foreign branch or plant that performs certain supply chain functions close to where they are needed at a much lower cost than if these operations were performed in-house.

3. Offshoring is similar to outsourcing. However, there are several distinctions between the two: In many ways, Offshoring has been a significant contributor to globalisation because it is an essential component of how businesses interact across national borders. In comparison to globalisation, the main reason for offshoring on such a large scale is wage disparities between different countries. In general, offshoring may result in higher unemployment levels in the home countries. It also needs to be highlighted that the term “outsourcing” may also be used to describe the foreign direct investment when a company establishes a subsidiary in another country. Jupiter is the biggest planet in the Solar System countries take advantage of this opportunity by relocating their operations to these lower-wage locations. The difference here is that offshoring usually refers to outsourcing of services, while outsourcing can refer both to service and product-related transactions. In general, companies from developed

4. The process is often called “offshoring” because it consists of sending a job overseas to a company that may be in a different country. Offshoring has become popular as more and more companies either outsource some of their work or move entire business divisions to another country with lower costs.

5. Reasons to go offshore

6. 2) More Time To Focus On Core Competencies: 1) Lower Costs: 3) Talent Pool: Using offshore labour pools can give businesses access to large numbers of talented people who might not be adequately represented in the domestic workforce. Businesses can reduce expenses by employing staff at lower salaries than they would have to pay at home. By focusing on what makes them competitive, businesses can advance their core competencies.

7. 5) Improved Customer/ Client Satisfaction: 4) Agility: In a highly competitive market, companies need to be able to adapt to change quickly. If a client has an important project that needs doing immediately, the company needs to have staff available to do that work or risk losing the client. By giving customers and clients more access to support teams they may see higher levels of customer satisfaction as problems can get fixed faster.

8. 6) Greater Attention To Detail: 7) Improved Work-Life Balance: When businesses use offshore labour pools they can support their staff around the clock without having to build more office space or hire extra staff which means employees have less stress and greater work-life balance. Cultural differences can sometimes be a benefit because someone who is not so familiar with the way things are done at home might take more care over their work.

9. Now that you have an idea about offshoring, you can use your newfound knowledge to better evaluate companies that might be able to help you with this process. Just remember that offshore outsourcing isn’t appropriate for every job so research your options thoroughly so you don’t have any unpleasant surprises.