Offshoring is becoming an essential strategy for companies seeking to reduce costs and increase efficiency while still maintaining high-quality services. Although cost is often the biggest driver for offshoring IT services, there a number of other benefits that organisations realise through sourcing talent and services from alternate delivery locations that enable them to achieve more offshore.
According to a study by Kearney, offshoring IT services can result in cost savings of up to 70%. This is because labour costs and the cost-of-living expenses in Sri Lanka are significantly lower than in Australia. By offshoring IT services, companies can take advantage of these lower costs and reduce their overall IT expenses.
In addition to cost savings, offshoring IT services can lead to increased efficiency. Companies that leverage offshore capabilities can spend more effort focusing on value accretive business activities and streamline operations and improve overall productivity. According to a study by Gartner, companies that have offshore teams can increase their productivity by up to 30%.
Offshoring IT services can also provide businesses with access to a wider pool of talent. Sri Lanka offers a large pool of highly skilled IT professionals who are well-versed in the latest technologies and software. In Sri Lanka the university and education institutions are at the forefront of technological advancements with strong vendor relationships that help to continue to adapt the curriculum to the latest technology trends. By offshoring IT services to Sri Lanka, businesses can benefit from the broader expertise that are skilled with the latest cloud skills. This can help companies to remain competitive in their respective markets and stay ahead of the curve when it comes to the latest technology trends.
Another benefit of offshoring IT services is the ability to operate around the clock. By outsourcing IT services to countries in a different time zones, companies can ensure that their IT systems are monitored and maintained 24/7. This can help to minimise downtime and ensure that business operations run smoothly at all times. According to Gartner, companies that have offshore IT services can improve their system availability by up to 20%.
Offshoring IT services can provide businesses with a range of benefits, including cost savings, increased efficiency, access to a wider pool of talent, and the ability to operate around the clock. By carefully selecting the right location and the right partner for your specific IT requirements, you can increase your competitive advantage.
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