#Aditya Birla Minacs#Deepak Patel#Outsourcing#Wall Street#Outsourcing

Outsourcing guru talks growth in the industry

The Wall Street Journal caught up with outsourcing guru Deepak Patel on Thursday, asking him a number of outsourcing-related questions about where the ...

Freddie Pierce
|May 5|magazine7 min read

The Wall Street Journal caught up with outsourcing guru Deepak Patel on Thursday, asking him a number of outsourcing-related questions about where the industry figures to go in the future.

Not surprisingly, Patel sees a boom in the outsourcing industry, saying that while world economies haven’t yet recovered from the economic downturn, the outsourcing industry continues to grow.
Patel is CEO of Aditya Birla Minacs, where business grew last year by 30 percent, because “the length and breadth of what people are outsourcing is increasing.”

Patel said that customers are focusing on their very core of their business while looking to outsource all non-core services. While banking, financial services and insurance have always been among the leading services outsourced, Patel says that technology, telecom and manufacturing are each becoming increasingly outsourced to Minacs.

“Customers want to focus on their very core … and look to specialized service providers [when outsourcing],” Patel told the Wall Street Journal. “Marketing, information technology, infrastructure, account opening, account closing and customer care- (companies are) outsourcing to specialized service providers so that (they) can focus on (their) very core.”

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Like most offshore outsourcing companies, Patel says Minacs is making significant investments on improving its ability to handle multiple needs for businesses in various industries.

So it seems, the global outsourcing trend isn’t going anywhere anytime soon. Outsourcing can help cut costs for your business, while allowing you to focus your strategies on core business processes. If your business is ready, you might want to take advantage of the booming outsourcing industry.