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06-05-2006, 10:06 AM
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#1 (permalink)
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Contributor
Join Date: 09-24-05
Location: Atlanta GA
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Global accounting firms outsourcing work to India to stay competitive
From financial services.. to R&D to software developed to consultancy services.... the picture looks very bright indeed for the Indian service industry
Quote:
International consulting firms are outsourcing some of their work to India to tackle competition.
When you think of auditing and consulting, four names usually jump to mind - PricewaterhouseCoopers, Deloitte, Ernst & Young, and KPMG.
But nowadays, more cost-conscious companies are turning to smaller, cheaper players in India for consulting services thus giving these global accounting firms a run for their money.
Gene Donnelly, Global Managing Partner, Advisory and Tax, PricewaterhouseCoopers, said: "Our competition for tax and advisory is much broader than the big four. It ranges from global firms like McKinsey, Accenture to local firms, some of them being very cost competitive, particularly coming out of India. And we need to be able to compete with them as well."
So to keep their own costs competitive, they are outsourcing some of their work.
They say this trend mirrors that already seen in manufacturing and information technology.
Mr Donnelly said: "Just like General Motors and Ford and other automotives have taken bits and pieces of their supply chain and put it to low-cost parts of the world, we're doing the same thing."
But to keep work quality consistent, some industry players are careful to outsource only the back-end projects such as research or financial modelling.
Naturally, when it comes to serving their clients or protecting intellectual property rights, they are keeping these cards close to their chests. - CNA/ch
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http://www.channelnewsasia.com/stori...212085/1/.html |
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