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Freelance & Outsourcing Industry: Difference between revisions
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=== Outsourcing 2008-2009 Recession === | === Outsourcing 2008-2009 Recession === | ||
According to IDC, BPO '''contract values peaked in 2008 in most industries''', especially government, manufacturing and financial services. There was a '''decline in total contract value of new and renewed contracts in 2009 and 2010''' due to the economic recession. Underlying the decline is a '''significant reduction in "mega deals" of more than $1 billion in 2009 and 2010 compared to the prior years''' covered in the study. The financial services sector, which had two significant mega deals in 2008, appears to be returning to pre-recession contract activity levels, though deals are trending shorter and smaller in size. | |||
''Unfortunately, the complete study by IDC is not available currently.'' <ref>https://www.businesswire.com/news/home/20110928005035/en/IDC-Study-Reveals-Decline-in-Business-Process-Outsourcing-Contract-Values-in-2009-with-a-Rebound-in-Financial-Services-and-Manufacturing-in-2010</ref> | |||
* Over half of the companies in the outsourcing market saw increased contract renegotiations in 2009, primarily caused by the recession<ref>https://gaprivacytech.org/journal/trends-in-outsourcing-emerging-from-the-great-recession</ref> | * Over half of the companies in the outsourcing market saw increased contract renegotiations in 2009, primarily caused by the recession<ref>https://gaprivacytech.org/journal/trends-in-outsourcing-emerging-from-the-great-recession</ref> | ||
* Many '''companies put outsourcing plans on hold and re-negotiated existing contracts with outsourcing providers at lower prices''', in exchange for contract extensions and other trade-offs, such as adjustments to service levels. | * Many '''companies put outsourcing plans on hold and re-negotiated existing contracts with outsourcing providers at lower prices''', in exchange for contract extensions and other trade-offs, such as adjustments to service levels. | ||