Released on = June 2, 2006, 12:17 am

Press Release Author = Anees Ahmed

Industry = Financial

Press Release Summary = West must gear up to face the avalanche of outsourcing jobs
to fast emerging developing economies.

Press Release Body = It is undeniable fact that low labor cost is the prime cause of
outsourcing jobs to India. US, Canada, UK and European countries will benefit from
outsourcing to low labor cost economies and exploit the benefits of globalization.

According to a leading HR consultancy, outsourcing to India, Philippines, Taiwan,
Bangladesh and Pakistan would step up in coming years. After the great success of
outsourcing to India, other labor-intensive Asian economies will also be tested.
Western economies have realized the benefits of outsourcing, which is not only low
labor cost but also the most acceptable results. It predicts huge turnout of
outsourcing as they will be facing cut-throat competition from across the world.

Since the cost of production is exceptionally high in the developed economies
compared to developing economies, customers are now getting reluctant to pay high
prices. This situation is now forcing organizations to find some other locations for
getting job done to survive in the business, it added.

"The back-office concept is growing exponentially and likely to outsource
non-customer facing activities. This growth of globalization would continue till
2010 ," agency said.

According to The Herald, savings generated by such savings from outsourcing jobs
like India, could be reinvested in the improvement of high value services like "mass
affluent".

Financial institutions and other companies are now gearing up to take up the
challenges from fast emerging economies like China and India, in which Knowledge
Process Outsourcing (KPO) is growing much more rapidly than in the West, agency
said.

"Outsourcing industry must look at expanding especially designed market for
low-cost, high volume businesses."

Agency further expects closure of around 700 European banks in coming three years
and due to outsourcing to Asian economies.

The report provided by the leading HR consultancy is based on survey taken of CEOs
at 175 leading financial service organizations. 65 percent have highlighted
outsourcing and globalization as the biggest issue their organizations are facing.

If you need more to know about Knowledge Process Outsourcing (KPO), kindly visit at
http://www.kpoasia.com

Web Site = http://www.kpoasia.com

Contact Details = PBC Net Pvt. Ltd.
69, Nariman Bhavan, Nariman Point,
Mumbai - 400021
Tel - 22021024
Email - anees@imtechcorp.com