Since outsourcing has different categories, we decided to divide it into different sections and cover all the interesting facts about outsourcing under it.
All of these stats show that there is a huge demand for outsourcing, and it’s increasing every year.
Cool, let’s dive into the 20 interesting facts about outsourcing:
Category A: Facts about IT Outsourcing
Image Source: Precedence Research
1. An estimated 300,000 IT jobs in the USA are outsourced.
Source: Radixweb
This statistic showcases the power of outsourcing in helping businesses stay afloat in these trying times. The money saved from this method allows businesses to expand and support their in-house team.
2. The largest outsourcing company in the world is IBM.
Source: IBM
IBM is a New York based company with a whopping revenue of $76.5 billion. Due to its outsourcing efforts, this giant has 383,800 working across the seas without any major disruptions.
3. The UK outsources 34% of technical support.
Source: YouGov
This statistic showcases the impact of outsourcing in terms of a country. Majorly, IT support operations are outsourced, paving the way for a company’s success in terms of cost-saving.
Category B: Facts about Customer Support Outsourcing
Source: Market Dot Us
4. Customer support outsourcing saves you around 61%-85%.
Source: HiredSupport
According to HiredSupport, you can the following cost by outsourcing:
| Country | Cost of Hiring In-House | Outsourcing to HiredSupport | You Save | %Cost Save |
|---|---|---|---|---|
| USA | $100,742 per annum | $14,787 per annum | $85,955 | Save 85.32% |
| UK | $213,840 per annum | $14,787 per annum | $199,053 | Save 93.09% |
| Canada | $31,722 per annum | $14,787 per annum | $16,935 | Save 53.39% |
| Australia | $38,438 per annum | $14,787 per annum | $23,651 | Save 61.53% |
All of the currencies have been taken into the US. dollars to make a valid comparison.
5. HiredSupport is the most affordable call center in the outsourcing market.
Source: HiredSupport
With a rate that starts from $7/hr, HiredSupport stands at the top when it comes to the most affordable call centers in the market.
6. Businesses can save up to 81.65% by outsourcing customer support to an outsourcing provider such as HiredSupport.
Source: HiredSupport
HiredSupport has been providing customer support services for almost a decade now. They have affordable packages starting from just $7/hr and even offer a free trial. They ran a complete analysis of how much business owners can save while outsourcing, and it turns out it’s 81.65%.
Category C: Facts about Outsourcing for Businesses.
7. 70% of companies outsource as a means to reduce costs.
Source Delloite
This statistic answers the question, “What motivates an IT company to outsource its operations?”. It saves on overhead expenses such as utility, hardware, and software to ensure operations run smoothly.
8. Over 37% of small businesses outsource at least one business process.
Source: Qubit Labs
Small businesses are strapped for cash and want to take every opportunity they get to save money. Some operations that such businesses outsource are data entry and customer support.
9. Companies can save up to 27.2% by outsourcing HR tasks.
Source: NAPEO
Businesses can outsource HR tasks to professionals who would help hire, recruit, and handle employee complaints. The money saved can be reinvested in the business for growth purposes.
10. 57% of business owners believe outsourcing allows them to focus on their core operations.
Source: Deloitte
This shows the impact of outsourcing operations. For example, outsourcing tasks such as data annotation allows companies to focus on building an AI model rather than going over the nitty-gritty of operations.
11. 65% of the outsourced businesses plan to increase outsourcing further.
Source: Rockcontent
A business would only prefer outsourcing if it benefits them in some way. It can either reduce costs or help them focus on their core competencies.
12. When looking for an outsourcing partner, small businesses want a partner to help them with problem-solving.
Source: Upcity
This showcases that outsourcing partners are also a company’s strategic allies. They can help businesses grow and ensure productivity stays at an all-time high.
13. 25% of the businesses communicate with their outsourced partner through emails.
Source: Upcity
This statistic showcases the importance of communication for an outsourcing service provider. The project details and progress made are all relayed through email without the hassle of arranging a meeting now and then.
Category D: Facts about Outsourcing in the USA
Source: Precedence Research
14. 68% of US companies outsource to low-cost countries.
Source: Outsource Accelerator
One of the low-cost countries that US companies prefer working with is Pakistan. They can hire experts at just under $7/hour for various tasks such as back-office support, data entry, and technical support.
15. 84.2% of deals in the US are outsourced.
Source: KPMG
This statistic showcases the importance of outsourcing for the United States of America. The lower cost of outsourcing is what eventually makes a company profitable.
16. 19% of the businesses in the USA opt for outsourcing to promote growth and stability.
Source: Carlie Pesti
Outsourcing means delegating tasks to experts who have been doing it for years. This allows companies to focus on what they need: growth and profitability.
Category E: Facts about Outsourcing: The Global Perspective
Source: TechNavio
17. The global spending on outsourcing could reach $731 billion in 2023.
Source: Deloitte
The outsourcing train has left the station and won’t likely stop. Outsourcing is the way to go if businesses want to become a part of this upward trend.
18. Globally, 62% of companies want to negotiate outsourcing terms and contracts.
Source: BCG
This shows the willingness of companies worldwide to come to terms with an outsourcing service provider. The future is here and starts with outsourcing.
19. The global market for outsourcing services was valued at US$620.381 billion in 2020.
Source: Research and Markets
This is a sign of growth and how businesses incorporate outsourcing into their business models. The outsourced activities range from IT support to data annotation services.
20. 70% to 80% of all manufactured products are believed to be outsourced.
Source: Orient
Outsourcing has not only impacted the services industry but also the manufacturing sector. Producing manufactured goods means high overhead costs. However, there’s one way to reduce them: outsourcing.
Conclusion
If you are a business owner who wants to outsource but needs clarification about the whats and the where. I recommend opting for HiredSupport’s free trial; this will help you understand what to expect from your outsourcing service provider. You reap the benefits of outsourcing without entering your card details.
