Friday, March 27, 2009

Maylasia Promotes Offshoring from Singapore reported today that approximately 20 Malaysian outsourcing companies are looking to "Turn bad situation into better opportunity!". This is probably the most quoted phrase now among many during the current global economic recession that it has almost become a cliche. The phrase has become a good strategy for them to look for new businesses in the current dimmed business climate.

Outsourcing Malaysia chairman, David Wong Nan Fay, said this was the first and right timing for companies to enter the Singapore market which was much affected by the economic slowdown, and promote their outsourcing businesses.Wong told Bernama the companies were offering IT help desk, software development, data, banking and payroll processing services, multi-lingual contact and disaster recovery centres. The goal is for these companies to reduce their operation expenditure to 30 percent if they outsource their operation to Malaysia.He stressed that by venturing into Malaysia, the Singapore companies would not only cut their business costs but could also access to talents that Malaysia had.He said the outlook of the outsourcing business in Malaysia was positive and he expected it to grow by 15 percent during the economic crisis this year.

Bob expresses the same belief in his book that the global economy is driving companies to look for way to become more competitive. Offshoring and outsourcing allow them to find expertise they are missing and reduce costs.

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