Nearly two weeks after the UK’s vote to leave the European Union (the ‘Brexit’), very little has become clear in terms of what this means for the country and the EU itself – and the sourcing and outsourcing space in the region - and even how and when the exit process will take place. Obviously, such a momentous transition should not be rushed through over-hastily; however, uncertainty can have a paralysing economic and commercial impact and pressure is already mounting on the British government to begin the formal exit process.
Data and analytics are fundamentally redefining applications today. In our daily lives, we use technology to help us make virtually every decision. And when you look at consumer applications—the Amazons, Netflixes, and Facebooks of the world—they’re all centred on data. You might not think of them as analytics applications that serve up a wealth of data to inform decisions, because the information is wrapped up in really slick user experiences. But in fact, they provide analytics information to you where you need it most.
Maybe Daniel Decatur Emmett will forgive me for “borrowing” some lyrics from his iconic 1850s American folk song, ‘Dixie’. I do this to encourage British business to look further afield for IT outsourcing services, as encouraged by Brexit. The USA and its domestic or onshoring companies represent a great but seldom considered alternative.
Outsource: Joe, thank you very much for joining Outsource today. We always begin interviews by asking for a little bit of an introduction to yourself and your organisation for our readers – so, over to you…
Joe Musacchio: I am the CEO of PeopleTicker. PeopleTicker is a rate and benchmarking tool, we cover salary and contingent labour benchmarking. We basically help companies that want to know how much somebody costs, for projects, individuals, recruitment, sourcing, and procurement.
I can recall being on vacation in Hong Kong with my wife as we were walking through the famous shopping district in Mongkok. Here you can buy Class A imitation goods of leading brands at far lower prices than the real brand and few would ever know the difference. Or, if you are like me, you will negotiate (aka: haggle) for an even better price. As I plied my finely honed negotiating skills on the unsuspecting merchants, the price kept getting lower and lower. My wife would say, “Stop, stop already” and she would eventually walk away in embarrassment.
Sourcing executives today are all about innovation and adding business value: buying smarter to drive business benefits such as increased customer satisfaction, reduced error rates and insights into product design. In other words, procurement operational strategy aspires to demonstrate alignment with factors driving the success of the business, which is more than just cost takeout.
Who could argue with that?
The world of outsourcing is a mysterious place anyway, full of bizarre practice, obscure (even obscurantist) jargon, and technology that is increasingly indistinguishable from magic – yet some parts of our shared folklore take this oddness to a whole new level of spookiness.
Like a huge minority of Britons I woke this morning deeply saddened by the news I had been dreading ever since the referendum on leaving the EU was announced: our four-decade-long participation in one of the most remarkable – and, perhaps, noble – political ventures in history will soon be coming to an end.
Most companies recognise outsourcing as an attractive way to efficiently complete software development projects, especially for companies that are experiencing skills gaps, time gaps or budget gaps. When this happens, outsourcing can be a viable solution – but only if the company trusts the vendor to protect proprietary code, follow through on promises, be accountable, and deliver quality work on time. But trust isn’t the only consideration when it comes to outsourcing software development.
Crisis is now an everyday occurrence, and is a risk that can be mitigated but never truly eliminated. In a world that seems to be increasingly prone to crises of every conceivable type, a recent survey from Deloitte – A Crisis of Confidence – finds a broad “vulnerability gap” between the awareness of threats and the preparations to actually handle them.