Offshore Outsourcing India making organizations across the globe to look at the nation due to the availability of technically skilled and trained human resource, as a profitable base for shifting the high end software and IT related support services. Organizations such as COLT Technology solution services are considering offshore outsourcing for their technical back-office support work in India. Other important areas are high end engineering and network management support. Another field in Software Outsourcing showing immense potentiality is the digital content creation & animation.
• Customer care: Support services and Customer care will continue to lead the revenue generation for Offshore Outsourcing, with a turnover reached 1200 million American dollars in year 2003-2004., and that grown from turnover of 810 million American dollars.
• Finance: In the services of finance segment the value added domains such as insurance claims processing, equity research and financial management services is expected to reach the highest growth, with estimation of 820 million American dollars as revenue in 2003-2004, increased from 510 million American dollar in year 2002-2003 for Offshore Outsourcing.
The growth is also expected in Human Resource services and the revenues were expected to climb 70 million US$ during year 2003-2004, thereby provided latent significant opportunities in the IT industry for some of dominant players.
Payment services in Offshore Outsourcing
• Payment services: The segment of payment services in Offshore Outsourcing industry has identified as a high growth sector. And it is expected that revenues generated some what around 430 million American dollars for 2003-2004, increases to 210 million US dollars in 2002-2003.
• Administration: Revenues generated from the services of administration segment increased from 310 million US dollars in 2002-2003 from 540 million American dollars for the year 2003-2004.
• Content development: The content software development services sector that including engineering & design services, animation, network management, digitization and biotech research had expected to grow with turnover of 520 million American dollar in year 2003-2004.
Animation studios such as MGM, Walt Disney and Warner Brothers are already doing offshore outsourcing for their low-end work like twining, clean-ups and modeling to India. Due to the availability of trained and skilled manpower in India, it is able to keep in step with the advanced technologies in the software development industry, which is prompting foreign studios for consideration of India as a base house for high end animation work such as story-boarding & developing original content in animated films ad and TV series. Organizations such as Teleradiology Solutions have been offered the services to American & South-East Asian countries in last 2 years, software engineering services like 3D, CAE modeling, CAD/CAM 2D, and design automation are the current additions to the increased list of processes in India for Offshore Outsourcing work.