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Everest Study: Enterprise Crowdsourcing Offers 70% Cost Advantage

by: Sarah Joson

Tuesday, December 20, 2011 | Outsourcing News |

Large businesses to use enterprise crowdsourcing instead of traditional BPO

 
The results of the study “Every Crowd Has a Silver Lining” done by Everest Group and Lionbridge Technologies, Inc. (Nasdaq: LIOX) showed that more and more large organizations are inclined to use crowdsourcing instead of traditional business process outsourcing (BPO) for its cost reduction features, flexibility, and provision of access to a more diverse talent pool.

Other vital results of the study are:

• Companies use the ‘private crowd’ model for processes like content localization, support for the shift from traditional BPO, and more.

• It provides more economic advantages - around 70 percent compared to traditional outsourcing.

• Companies enjoy reduced costs in labor and recruitment as crowdsourcing enables them to gain access to talent more quickly.

• Contracts that have been using crowdsourcing for quite some time gain additional perks from third-party service providers like quality assurance and management infrastructure.

The report also stated that crowdsourcing is also applied to almost 50 percent of processes that are related to products and manufacturing.

Sarthak Brahma, Practice Director, Pricing Assurance, Everest Group said crowdsourcing is a new wave method of using global professional services for new processes and is almost as cost-effective as traditional BPO.

Enterprise crowdsourcing is perfect for companies that have large staffing requirements. It enables companies to make use of a variety of talents from pre-qualified workforce to “private crowd”.  In line with that, the managed service providers see to it that clients are able to maximize the benefits of crowdsourcing.


Source:
http://en-us.lionbridge.com/

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