HfS Research Releases the First Blueprint for the Industry Known as "Outsourcing" - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

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SOURCE: Idea Grove

HfS' inaugural "Sourcing Blueprint Sessions” result in 21 recommendations to improve outsourcing for Global 1000 organizations.

New York, NY (PRWEB) June 28, 2012

With global competition for white-collar jobs continuing to escalate and job repatriation becoming an increasingly contentious issue in this election year, the first outsourcing industry blueprint, released today by HfS Research, identifies key issues affecting outsourcing and provides 21 detailed recommendations to improve the industry. With 97% of the Global 1000 now engaged in some form of business operations/IT outsourcing, it is essential that many enterprises improve the value from their current engagements, or risk eradicating their initial cost savings.

“Our Sourcing Blueprint Sessions brought together many of the outsourcing industry’s power brokers who shared their experiences, challenges, successes and future desires in an open setting,” said Phil Fersht, founder and CEO of HfS Research. “The objective was to make a genuine difference in how the industry currently operates. The resulting blueprint and recommendations are the first step toward implementing badly needed changes.”

Research data provided by HfS Research and input from 41 of the 50 HfS Executive Council company members, as well as leading service providers Accenture, Capgemini, Cognizant, Genpact, Infosys and Wipro, led to “A Blueprint for the Industry Known as Outsourcing.” It focuses on four major challenges facing all industry participants:

1.     Overcoming the singular focus on cost that strips the industry of value;
2.     Leveraging outsourcing as one of a variety of vehicles to achieve business objectives;
3.     The need for service providers to invest smarter in their account management teams;
4.     The need for buyers and providers to partner to foster innovations into business and IT process outcomes.

Among the 21 recommendations to improve the outsourcing industry:

•     Alternatives to the term “outsourcing” are needed because it has become synonymous with greedy corporations exploiting low-cost labor, and ultimately the sacrifice of many higher-paying jobs;
•     Outsourcing providers must develop methodologies that allow them to spread capability in new locations of equal quality of Indian operations. This not only supports domestic or regional client initiatives, but also assists clients with contextually sensitive processes and regional risk management;
•     Many service providers must hire higher-caliber account executives with deeper industry expertise, greater consultative skills, and more strategic mindsets;
•     Outsourcing buyers must share more information with their providers, by hosting strategy sessions where they discuss and forecast the latest company objectives, and their service providers can update the buyers on their solution options and capabilities to achieve process and IT improvements;
•     Security remains a significant concern, and organizations cannot passively manage service providers through contractual security requirements, instead developing auditable enterprise security models capable of spanning global internal and external operations that actively manage their risks; and
•     Avoid stagnation. Both seasoned provider professionals and experienced clients are at risk of falling into a “comfort trap” with the status quo of their current engagements.

HfS Research regularly hosts face-to-face and virtual meetings where members share their candid, unbiased opinions and HfS contributes current, highly relevant research data and deep outsourcing expertise. The next major summit, entitled the "HfS 50 Blueprint Sessions 2.0" will be held in Boston this October 23-25 to finalize an operating framework for the outsourcing industry - please click here for more information.

“We have enterprise outsourcing leaders from many Global 1000 organizations committed to participate,” said Fersht. “The goal of HfS is to provide a vehicle for the collective voices of today’s enterprise outsourcing leaders to shape higher value engagements that will create a better future for our globalizing businesses.”

As national, state and local elections approach, debate about keeping jobs in America and returning jobs from offshore will certainly move into the spotlight. HfS Research, the recognized thought leader in outsourcing, will provide its unique perspective on the issues through additional “blueprints” derived from its proprietary research and conferences involving the HfS Executive Council and its industry leading team of analysts.

About HfS Research

HfS Research is the leading analyst authority and knowledge community for the global services industry. In addition to researching business services and technology services strategies, HfS educates and facilitates discussion among the world’s largest knowledge community of services professionals, currently comprising 120,000 subscribers. HfS provides a collaborative platform for the largest, highest impact, and most frequently visited professional community in the global services industry, offering rapid and insightful commentary on, analysis of, and debate about enterprise shared services, outsourcing, and global operations dynamics.

To learn more about HfS Research and request to talk to the analyst team please email tom(dot)ivory(at)HfSResearch(dot)com.

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