According to the Asia-Pacific TPI Index, a study done by the Information Services Group (ISG) that measures commercial outsourcing deals worth $5 million or higher - with an annual contract value (ACV) of $3.1 billion last 2012, the Asia-Pacific region is well on its way of becoming a profitable market for outsourcing contracts.
New processes were identified as the key propellers of growth and are responsible for 88 percent of the deals closed last year.
Sid Pai, Partner and President at ISG Asia-Pacific, said compared to the economic problems experienced by Europe and the US last year, the Asia-Pacific region posted significant growth throughout 2012.
Pai added that the persistent growth of business process outsourcing (BPO) and information technology outsourcing (ITO) in India and China, helps the Asia-Pacific region overtake its larger counterparts, particularly Europe and the US.
Moreover, only the Asia-Pacific region posted an increase in ACV in 2012, and the number of outsourcing contracts in the region likewise grew six percent year-on-year to 134.