Software Outsourcing & The Financial Crisis - A Solution

Software Outsourcing & The Financial Crisis - A Solution

Beginning with the world financial crisis, the issue of how software outsourcing can reduce business risks was put forward. While a number of different large scale surveys have displayed opposite results, the fundamental truth about the solution for the financial crisis that IT outsourcing represents remains to be discussed as the economical crisis further develops.

In Eastern Europe, especially Romania, the effects of the financial crisis have not damaged at a deep level the local economy, mainly because Romania's economy like that of other countries from the former communist bloc, is still developing. The financial crisis affected only local branches of international banks, that have borrowed money from their home divisions, so this issue backtracks only those financial relations, and not the state economy.

For the software outsourcing seeker, Romania offers a stable development in a secure framework. Members from the polity consider the software outsourcing sector a priority and an incentive for progress and of course, profit. Therefore, they have provided skilled Romanian programmers with tax exemptions, while another sum of around $30 billion as non-refundable European funds will be invested in the IT infrastructure until 2013.

As an outsourcing destination for IT and BPO, Romania has a vast labor of skilled human resources and the lowest level of cultural barriers between them and Western nations, thus providing outsourcing companies with the higher understanding of Western necessities and ideas that other Asian-Pacific destinations lack. Furthermore, trust and reliability have been features commended by the management consulting firm A.T. Kearney, that provide the outsourcing firm with the required risk guarantee and security, elsewhere lacking or missing completely due to the new circumstances imposed by the global financial crisis.

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