In business, actions with the greatest payoff can sometimes be risky. This certainly applies to outsourcing software development, AI projects or IT support to third parties. While it can help you get your digital transformation projects off the ground, accelerate timelines and provide you with the scarce tech talent while reducing the cost of full-time internal employees, there will always be a level of risk associated with it.
According to an article in the Wall Street Journal, citing analysis by COMPTIA, in January 2022 employers posted close to 340,000 unfilled IT job openings, which was 11% higher than the 12-month average. The huge demand for software and AI expertise can be attributed to heightened demand for IT services brought on by the pandemic, but also a growing tech talent shortage that has been in the works for some time.
Environmental, Social and Governance (ESG). It’s not a new term: its origin dates back several decades, but it has gained increasing importance in recent years.
Since the onset of the pandemic, many office workers have spent more time working from home. In the BPO sector, this has meant finding workable, advanced technological solutions for our agents, something that is setting apart the leaders in the sector from the rest.
Because of the vulnerabilities that the pandemic has laid bare, many companies are re-thinking their sourcing strategies. While these issues have been most apparent in goods produced overseas, companies are also re-evaluating the wisdom of relying on providers in far-off locations with different time zones and geographies for outsourced services, such as AI and software development. For this reason, according to consulting firm MJV Technology & Innovation, the interest of Fortune 500 companies in nearshoring has significantly increased during the pandemic.
As has happened everywhere in the world, shopping and buying habits in Latin America have been profoundly affected by the still ongoing COVID-19 pandemic. Once a laggard in e-commerce, it is now the fastest-growing regional e-commerce market in the world; last year, total retail e-commerce sales in Latin America grew 36.7%, to $84.95 billion.
During the 2006 economic downturn in Puerto Rico, many jobs were lost and people left the island. Fast forward to 2017 when Hurricane Maria made the problem even worse. People left the island in masses; and many didn’t come back. It’s often said that every Puerto Rican knows someone who died and someone who left as a result of the devastation.
With a regional GDP predicted to grow at least 2.5% per year over the next 10-15 years, Latin America makes up an enticing emerging market that will soon outpace larger, more established ones. According to Americas Market Intelligence, Latin American e-commerce revenues reached $109 billion last year. The e-commerce market is already substantial, with Colombia and Argentina making up two of the top three fastest-growing e-commerce markets in the world.
Belize, the tiny Central American country bordered by Mexico and Guatemala, is known for many things: beautiful beaches, pristine Caribbean waters, ancient Mayan ruins, rainforests filled with exotic flora and fauna and much more.
Outsource: Marcos, thanks for joining us. Let's start with a big topic: why is the distinction between offshore, onshore and nearshore becoming less important?
Outsource got together with Alex at October's SIG Summit in California to hear his thoughts on how his organisation is reacting to current changes in the market landscape; the pros and cons of decentralisation; the importance of "China for China"; and why the automation revolution offers huge opportunities - and challenges...
Outsource: So, Alex, what are you guys up to at the moment?