Guideline No. 3: De-risk yourself
Outsourcing is a people-intensive
business where macroeconomic changes, such as exchange rates, can
significantly affect profitability. Since you do not want to be working
with a company that can disappear overnight and leave your project in
the lurch, look for a company with at least 500 employees. This is a
good metric to ensure that the vendor has enough cushion to survive
Make sure that the vendor you
choose has enough experience in dealing with a variety of projects. The
experience that comes with handling many projects helps. Look out for
the technology DNA! A vendor who is aware of the latest technologies
and does innovative work will be the best bet.
IT smarts at your beck and call
Democratization of outsourcing means having IT smarts
at your beck and call. Today, working with offshore outsourcers is not
only possible but financially beneficial for SMBs. In the shift away
from a deep-pocket luxury, outsourcing partnerships have become an
accessible, profitable foundation for simply doing good business.
Whether you're looking to outsource a simple
enhancement to an existing Website or a turnkey initiative, a nimble
firm that facilitates budget-friendly, innovative solutions using the
best of new-and proven-technologies can be the path to successful
Srinivas Balasubramanian is Chairman and CEO of Photon Infotech.
Before Photon, Srinivas was a senior vice president at Webmethods.
Prior to that, Srinivas was founder, president and CEO of Infravio.
Srinivas served in various capacities at Infravio, initially
responsible for raising the initial institutional venture capital
round. Thereafter, Srinivas served as chief strategist of the company,
driving the company to a thought leadership position in the emerging
Web Services and SOA market until Infravio's ultimate sale to
Webmethods, which he architected. Srinivas has an MBA from the
prestigious Indian Institute of Management (IIM), Calcutta and is a
graduate from Birla Institute of Technology and Science (BITS), Pilani.
He can be reached at firstname.lastname@example.org.