IT Operations
Agree or disagree: Standard financial investment information and criteria are all that is needed to effectively evaluate IT outsourcing decisions.
Over the last several decades, outsourcing has become an effective tool for many companies to reduce their costs and increase their profit margins. As time went by the reduction in trade barriers and availability of highly skilled workers (in select locations) made these practices more acceptable. This has resulted in an increasing number of jobs being outsourced to different countries (i.e. China and India). (Buck, 2011)
Evidence of this can be seen with data provided by Statistics Brain. They found that in 2011 there were a total of 2.27 million American jobs outsourced to these locations. There are a number of different reasons as to why this is occurring. The below table is highlighting the most common factors influencing the decision to outsource various services. ("Job Outsourcing Statistics," 2012)
Factors as to why Corporations will chose to Outsource
Reason for Outsourcing
Percentage
Reduce Costs
44%
Inability to have Access to In House IT Resources
34%
Utilize Everyone's Time more Effectively
31%
Improve the Focus of the Business
28%
Reorganization / Transformation
22%
Gain Access to Additional Management Skills and Resources
15%
Reduce Time to Market
9%
("Job Outsourcing Statistics," 2012)
These figures are showing how there is the desire to: increase profit margins, reduce costs and have access to additional resources (which are the primary reasons why most firms are outsourcing). To fully understand what is happening, there will be a focus on the standard of financial information and criteria that are needed to evaluate IT outsourcing decisions. Together, these elements will highlight the risks vs. rewards of this practice. ("Job Outsourcing Statistics," 2012)
The Impact...
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