How Outsourcing to India Can Boost Your Business Productivity: Real-Life Examples
Outsourcing to India has become a popular way for businesses to boost productivity and cut costs. In this article, we'll share three real-world examples of companies that outsourced to India and saw significant productivity gains. From software development to other business functions, these companies tapped into the expertise and resources of Indian service providers to trim the fat from their operations and achieve their business goals. Let's dive in and see how outsourcing to India can help your business too!
Olympus, a leading manufacturer of optical and digital precision technology, was facing challenges in managing its sales process. TCS helped Olympus reimagine its CRM (Customer Relationship Management) landscape by implementing a first-of-its-kind CPQ solution (a software solution that helps companies accurately define the price of goods across multiple sales channels) for a non-sales process.
This solution helped Olympus reduce its sales cycle time from 40 to 8 hours and ensured 100% accuracy in quote generation. The grants and medical team successfully saved 1,500 hours annually.
Infosys implemented an AI-powered fraud detection solution for a leading bank to enhance its productivity. The solution is called IFM-X's New Account Fraud solution and is developed in partnership with Actimize. It provides identity intelligence enriched with behavioural and transactional analytics, which optimises risk detection during discrete phases across the customer lifecycle - from origination to early account and ongoing monitoring.
The AI-powered system can process huge amounts of data faster and more accurately than legacy software, reducing the error margin in identifying normal and fraudulent customer behaviour, authenticating payments faster, and providing analysts with actionable insights. The system can detect and flag anomalies in real-time banking transactions, app usage, payment methods, and other financial activities. The use of AI in banking systems also minimises false positives, which is crucial in safeguarding the customer experience without compromising on security.
Wipro implemented a supply chain process for a global Pharmaceutical company that integrated design, planning, procurement, manufacturing and fulfilment, providing a complete solution set to enable it to create information-driven value chains. The solution also included a real-time supply chain visibility system that provided the client with end-to-end visibility of their supply chain, which helped them to make informed decisions and optimise their supply chain operations, and a supplier collaboration portal that enabled the client to collaborate with their suppliers in real-time, which helped them to reduce lead times and improve their supplier performance.
The improvements that were brought to the business as a result of this solution are as follows:
Cost Containment - Around 35% reduction in overall operational cost achieved through economies of scale
Compliance - 100% compliance adherence
Transformation - Increase the quality output and efficiency with introduction of in-house tools and process automation
Scalability - Proven capabilities to scale-up operations for expanding in any region
Operational Efficiency - Significant improvement in volume, quality and turnaround time due to process standardisation.
These success stories underscore the versatility and effectiveness of outsourcing to India, showcasing its potential to streamline operations and catalyse business growth. As industries evolve, the collaborative synergy between global enterprises and Indian service providers stands as a testament to the power of strategic outsourcing in achieving and exceeding business goals. As you consider the dynamics of your operations, the experiences of these companies serve as compelling evidence that outsourcing to India can indeed be a catalyst for positive transformation, propelling your business toward greater efficiency and success.