by: Sarah Joson
Saturday, October 22, 2011 | Outsourcing News |
For this year’s third quarter, the manufacturing industry posted €1.5bn in IT outsourcing spending, compared to only €1.4bn in the same period last year. Consequently, for the first three quarters of 2011, the sector spent €5.8bn compared to €5.6bn in all of 2010.
As for the retail sector, it had already invested €1.4bn. This was higher than the figures posted last year.
On the other hand, the financial services industry, the sector that posted minimal spending in 2010, has reduced expenditures on IT outsourcing services, spending only 48% of last year’s total. According to TPI, during the third quarter of 2011, Emea financial services sector invested €1.6bn in IT outsourcing, a far cry from the €2.7bn of 2010. Reduced IT spending was also seen in energy, healthcare, and pharmaceutical sectors.
According to Martyn Hart, Chairman at the National Outsourcing Association, IT outsourcing has become a way for sectors like retail to maximize efficiency and entice consumers. A significant increase in outsourcing activity was seen in the retail sector as companies aim to be more competitive through advanced IT solutions and upgraded infrastructure that outsourcing can provide at low risk.
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