Accounts receivables not collected are really regarded bad debts. Bad debts will be an expense in the income statement and can cut profit. Hence, bad debts will upset the lender in any perspective seeing as revenue is the product and the very reason of the organization operation. For some level, accountants have a nominal acceptable percentage for bad debts because it is realistic that certainly not all can pay their obligations. Still, defining...more
Most IT giants and core business mammoths are seeking IT Outsourcing as a profitable and reliable means to offshore the IT activities.The most popular IT hubs such as Chennai and Bangalore seem to be saturated, and thus Ahmedabad is being considered as a city that has tremendous potential to be the next IT hub. Prior to indulging in IT Outsourcing activities, the customers seek for the most profitable location in terms of cost, infrastructure and...more
Despite the popularity of IT Outsourcing, there are several misconceptions that surround its general principle of working. Though, we cannot cover all the myths that surround IT Outsourcing, we try to focus on the most common ones here:Myth 1: IT Outsourcing hampers productivityThere is a general belief that when a client opts for IT Outsourcing, the overall productivity of the concern may go down because of several barriers in terms of culture, distance, communication and time that exist.Fact 1: Productivity is increased when IT Outsourcing is opted for Excellent English skills and superior technical knowledge possessed by the employees of IT Outsourcing companies ensure that the productivity sees an upsurge despite time and cultural barriers. Also, most companies offering IT Outsourcing work as per their clients time zone thus ensuring uninterrupted IT activities. In most cases, an on site project manager is appointed by the IT Outsourcing vendor in order to carry out coordination amongst the on site client managers and offshore team members.Myth 2: Global clients opt for IT Outsourcing to cut costsThe costs of a company sure see a reduction when offshoring of IT activities is...more
Habits are considered to be a predominantly, human trait. But, by virtue of being conceived, managed and operated by humans, organizations too tend to develop their own habits. Just as humans, even these organizations do at times continue to behave in ways that are not only expensive but resource hungry as well. A prime example of this kind of...more
Real estate can be a complex industry. There are various activities involved and sales will always prove to be the most crucial aspect. In this light, outsourcing some real estate tasks will be helpful. There are many real estate sales agents that compose an office. Whether big or small, there are tedious details that happens for every...more
As a result of the sudden outsourcing boom, its no wonder that many companies are becoming interested to know exactly how the concept could help them, too, with banks most recently starting to become particularly interested. And of course, with so many people interested in the concept, its impossible to not have heard anything about it at all.A new report has suggested that major European outsourcing firms could lose large financial institutions to Indian rivals, who seem to be the most popular outsourcing candidates at the moment as a result of their keen willingness to take on additional job roles. According to Computer Weekly, research compiled by Deutsche Bank and the Value Leadership Group noted that some banks had grown frustrated by what they saw as an unwillingness to exploit the full potential of offshoring, on the part of European third-party providers. Most banks we polled complained that despite the service agreements, during the last financial year, multinational firms like Accenture and IBM saw resource issues offshore, and used a greater proportion of their onsite headcount while executing application development projects, the study observed. The survey also found...more
A new report has indicated that a growing number of British law firms are looking to outsource certain functions to third-party providers, in an attempt to cut costs in the same way that many other businesses have been doing. According to a survey...more
With uncertainty surrounding the economic climate, its no wonder that even the most stable of companies are wondering whether theyre next to go. As a result, how safe is the outsourcing sector? Or is it just as vulnerable as the many businesses that...more
Bournemouth Borough Council has insisted that its relationship with third-party provider Mouchel remains completely unaffected by the firms recent problems.A 4m accounting error wiped one-third off Mouchels share price and forced the Chief Executive,...more
Outsourcing is the concept whereby companies and individuals can outsource their workload to third parties, with an aim of cutting costs and reducing their own workloads. With many websites offering this type of service, and many companies sharing...more
With the recent surge of companies signing deals with outsourcing companies, for different parts of their workloads to be outsourced to third parties, great news is brought to all of the freelancers out there. This is because of the increasing amount...more
It was recently reported that the outsourcing industry looks set to be transformed over the next ten years, as a result of various different IT developments that are underway. One of the biggest developments is the growing amount of choice...more