US firms up domain specific outsourcing

US companies are sourcing domain specific applications more than ever before according to a recent survey conducted by Wipro Technologies.

The survey has shown that over 40 per cent of the respondents were actively sourcing industry-specific domain solutions and another 42 per cent were piloting/researching the same with active interest.

Specific domain/industry centric solutions that were being sourced included those in the areas of customer services (CRM, Business Intelligence); operational excellence (ERP, Supply Chain, etc.) and specialised industry solutions (RFID, Risk Management Solution, etc.)

Wipro administered the survey at its Strategym Conference, held in New York recently. The survey included data from over 80 senior management executives. The Strategym Conference is an interaction platform for key individuals in the realm of IT strategy and global sourcing.

"The findings confirm that global sourcing has now become mainstream. There is a clear indication that global organisations are actively outsourcing industry centric business applications/processes that can sustain innovation and competitive advantage," Sudip Banerjee, president of enterprise solutions at Wipro, said.

The survey also revealed the strategic character of 'global sourcing', where it mandated a CXO-led strategic initiative for 50 per cent of the participating organisations. It has also shown that over 90 per cent of the organisations are satisfied with the results of their global sourcing efforts.

Global sourcing is becoming vital for organisations across the world since it enhances value creation and increases competitiveness.

The topic was explored with over 80 senior management executives from the US end-user organisations, practitioner CXOs, industry experts and academicians. The Strategym topics covered blueprints, best practices, insights and exploring next steps in the evolution of global sourcing.

The event concluded by exploring the success factors across the global sourcing lifecycle, which included establishing sound governance models, programme management and execution of data security.