Monday, April 18 2005 18:08 Hrs (IST) - World Time -

Bangalore: neoIT the leading offshore advisory and management firm, today (Apr 18, 2005) released the findings from a March survey conducted to assess the state of outsourcing in 2005. The study is part of a monthly series to identify and track the key trends and changes in the outsourcing industry. March's survey set out to determine the impact of outsourcing as a key strategic initiative in 2005 for US and European organizations.

In March 2005 neoIT used its monthly newsletter subscription database, Offshore Insights, to conduct an online opinion poll of several thousand top managers in US and European organizations. The results validate the continued strength of the outsourcing trend, with the majority responding that outsourcing is one of their organization's key strategic initiatives for 2005.

Sixty-one percent of the respondents reaffirmed outsourcing was a "critical issue" for their organization. Twenty-five percent of the respondents replied to the contrary, and fifteen percent were undecided.

Commenting on the survey results Avinash Vashistha, managing partner, neoIT said, "The popularity of outsourcing continues to gain momentum. This has been driven by a number of factors, including companies' need to focus on core competencies, reallocate internal resources, reduce and/or stabilize costs and improve efficiencies in a highly volatile, highly competitive global business environment. Our study further validates that outsourcing forms a part of the key strategic decision of any organization today."