What are the global trends in IT and Software Outsourcing in 2020?

1. What are the global trends in IT and Software Outsourcing in 2020? Outsourcing is more or lessabout going risk-free and in response getting a helping hand for the tasks your current teamdoesn’t haveexpertise in.If there were any gaps, theyare filled for the betterment of both the company and the third party or individual catering to those outsourcing needs. As Statista’s report suggests, outsourcing revenues increased in 2018 to $85.6 billionfrom a mere $45.6 billion back in 2000. Undoubtedly, there was a time when the in-house workforce was considered the status quo. However, as IT and Software are making waves across the globe,more and more companies are pushing for outsourcing. To reiterate just how prominent outsourcing is becoming,the world’s largest mobile phone manufacturer, Samsung, is gearing up to outsource one-fifth of its production in 2020 to rival Chinese counterparts. This shows how the promising the year 2020, as well as the coming years, will be in terms of IT and software outsourcing. What has skyrocketed the demand for outsourcing is companies having streamlined functionalities.This way, companies are still able to keep things confidentialwhile getting their work done. To highlight what’s in demand, we will share the details of trending IT outsourcing services. 2020 IT Outsourcing Services Trends - At a Glance More People Driven – Less Money Driven The common perception is outsourcing is meant to be a seamless semi-automated process which is cost-effective. But 2020 isn’t going to be about saving a few bucks;companies will be more focused onsearching for high-quality IT outsourcing services and paying them accordingly. Therefore, in response, these companies will rope in third parties that will equally suffer the risk in case substandard services are offered. To ensure the best outcome for the company, the outsourcing process will be more human-driven and the utmost responsibility will lie in the hands of the Talent Acquisition (TA) Manager. It will be up to the TA Managers to find the best talent. More Specialized Third Parties for IT Outsourcing Services The affiliation with only onethird party for outsourcing will no longer be the norm. The bigwig companies will look to work with the best options in aparticular niche. The previous model for outsourcing was a single third party company offering both technical and non-technical services. It was largely done to make the outsourcing process hassle-free andmeant relying on only one third party service to meet all needs. Application Development and Maintenance Having a website presence used to make a business look more legitimate, but now having a mobile or a desktop app is more of a sign to consumers that the business is credible. This has sky-rocketed the demand for an app for all kind of business owners. Being non-technical in this www.yittbox.com

2. regard, most of them outsource this task and even once it has been created, they hire a third party for continuous support and maintenance. Reporting and Audits Companies believe in impartial audits and reports, as they can directly or indirectly help make their businessflourish. Though this process was previously availableto only the bigwig companies, from 2020 onward it will be trending for all the right reasons. A third party that has no stake in the company can conduct unbiased and impartial financial audits,which is why many top-notch companies get this outsourced. Social Media Even if you’re a small-time business owner, the more presence that you have across different mediums on the web, including that of social media portals,the more online help you will have to meet certain targets. Primarily, brand awareness is easily increased through social media. Moreover, one can even create a loyal audience and therefore gain customers through social media campaigns. Ad-targeting and engagements bridge the gap between the customer and the brand which is why it stands out as an integral part of the business. Therefore, social media outsourcing is on the rise largely because of the need to hire an expert in order to keep up with the social media presence. AI taking in for Manual Processes Bots and virtual agents are making this whole process flawless and cost-effective with the courtesy of Artificial Intelligence Robotic Process Automation (RPA). RPA aims to cut costs for both the company’s bottom line as well as costs for the workforce. Put simply,work which previously required 10 people nowonly requires 1-2 people with AI takingthe charge. This pushes companies to get third party AI tools for an entirely different experience. www.yittbox.com