Nearshoring

Nearshoring Vs Offshoring Vs Onshoring: Key Elements to Understand When Dealing With Outsourcing Services

Posted: 12/17/2022 - 01:31
Nearshoring Vs Offshoring Vs Onshoring: Key Elements to Understand When Dealing With Outsourcing Services
Outsourcing is a long-established practice of modern business. It was first popularized in the 90s when Kodak was among the first tech companies to outsource work to another company, in this case IBM. Since then, companies in the tech industry and beyond have used outsourcing in a variety of ways.
 
Why do businesses use outsourcing?

4 Predictions That Will Shape Procurement in 2022

Posted: 01/27/2022 - 09:00
After an immensely challenging year, the stage is set for major procurement transformation in 2022.

2021 was an immensely challenging year for procurement teams across the globe. Not only did most of the challenges of 2020 continue, but many got significantly worse. Between major supply shortages, rising commodity prices and new variants reigniting pandemic-related disruption, teams had to work extremely hard just to keep their organizations operational, let alone achieve their strategic goals.

How the Pandemic Changed Outsourcing for the Foreseeable Future

Posted: 07/13/2021 - 09:00
How the Pandemic Changed Outsourcing for the Foreseeable Future

Because of the vulnerabilities that the pandemic has laid bare, many companies are re-thinking their sourcing strategies. While these issues have been most apparent in goods produced overseas, companies are also re-evaluating the wisdom of relying on providers in far-off locations with different time zones and geographies for outsourced services, such as AI and software development. For this reason, according to consulting firm MJV Technology & Innovation, the interest of Fortune 500 companies in nearshoring has significantly increased during the pandemic.

Are You Getting the Most Out of Your Nearshore Digital Transformation Partner?

Posted: 02/04/2021 - 04:06
Nearshore Digital Transformation

Given the supply chain disruption, business shut-downs and economic uncertainty caused by COVID-19, it’s never been clearer — doing business closer to your own shores is coming back into vogue.

With recent restrictions on H-1B workers and a tech talent shortage, selecting a nearshorer is fast becoming the first step on a company’s digital transformation journey.

There’s Plenty of Room at the Table for Nearshore and H-1B Visa Holders

Posted: 10/12/2020 - 09:45
Nearshoring, however, provides the innovation, skillset and diversity to keep tech innovation moving forward with or without visa restrictions.

In June 2020, in response to the coronavirus, President Trump signed an executive order to freeze access to new H-1B visas for professional and technology workers doing business in the U.S. This has a huge impact, considering in 2019 about 139,000 new H-1B petitions were approved, joining 250,00 which were extended.

Could the Pandemic Bring Outsourcing Closer to Home?

Posted: 08/03/2020 - 02:45
When it comes to sourcing professional services to help grow their businesses, companies will increasingly find some level of comfort and convenience by partnering with those closer to home.

A Wall Street Journal article recently posed an interesting question: “Is the world likely to become less flat because of the pandemic?” According to the article, while globalization was the growing trend in the early part of the new century, key drivers such as rising offshore costs, localization and a shift toward services delivery has begun to take some steam out of it.

5 Tips for Cross-Border Business Success in Latin America

Posted: 02/19/2020 - 04:01
Nearshoring in Latin America

With a regional GDP predicted to grow at least 2.5% per year over the next 10-15 years, Latin America makes up an enticing emerging market that will soon outpace larger, more established ones. According to Americas Market Intelligence, Latin American e-commerce revenues reached $109 billion last year. The e-commerce market is already substantial, with Colombia and Argentina making up two of the top three fastest-growing e-commerce markets in the world.

Stop Faking Cultural Understanding: 5 Tips for Building Effective Relationships Overseas

Posted: 07/17/2019 - 07:11
Business Relationships Overseas
As the world continues to shrink and the global supply chain grows, it’s not enough to invest minimally in your international relationships—it means truly understanding the people and culture you’re working with. These relationships can become a valuable asset to your business, giving you an advantage over competitors.  
 

Why Nearshoring and AI Go Hand-in-Hand

Posted: 07/11/2019 - 04:49
There’s growing momentum for Artificial Intelligence (AI) across a variety of industries, ranging from financial services and healthcare to manufacturing and environmental initiatives. It’s no wonder, given the power of AI to find patterns in vast amounts of data faster than humans ever could and to predict outcomes and behaviors. 
 

Whatever You Call It, Outsourcing to Puerto Rico Is a “Shore” Thing for U.S. Businesses

Posted: 02/27/2019 - 07:38
Puerto Rico may suffer a severe identity crisis when it comes to naming its category of outsourcing. It’s not really offshoring from the U.S.…nearshoring may be a better term. But as a U.S. territory, is it technically onshoring? When one thinks of that term, an image of open spaces in Oklahoma or Michigan come to mind – and that’s definitely not Puerto Rico. Do you see the dilemma? 
 

(Outsourcing) Location, Location, Location: Why it Should Factor Into Your Decision-Making Process

Posted: 12/05/2018 - 03:32
Outsourcing has become synonymous with cheap services offered by another country. Lower costs are on everyone’s mind when outsourcing is mentioned, especially in the IT world, where it can make a substantial difference. However, it’s not just about saving a buck. Outsourcing can also help companies find the right talent (and enough of it), reduce overhead and in the end, yes, reduce costs.

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