Indian software firms stand to bag deals worth $4 billion from U.S. firms as the spending on IT by financial services industry is expected to go up due to stronger regulations and reforms in the U.S. The U.S. financial services sector comprises a major chunk of revenues for domestic IT companies, reports Amit Tripathi of DNA.

In the quarter ended March 31, 2010, Infosys generated 66.1 percent of its revenues from the U.S., TCS 54 percent, Wipro Technologies 56.7 percent and HCL Technologies 59.5 percent. “We are seeing regulation-related IT spending happening of late. Some of these projects are being driven and monitored by the chief risk officers of the financial services firms in the U.S.,” said Vibin Balakrishnan, Chief Financial Officer of Infosys.

A report by Sybase, a U.S.-based enterprise and mobile software maker that’s in the midst of a takeover by German giant SAP, expects a dramatically new financial services regulatory regime ahead. The opportunity is mostly for IT service firms than packaged software or hardware makers.

“The projects are largely service-related in which there are orders for new application development and integration of systems,” said Balakrishnan. In recent times, most of Indian IT service firms have increased their hiring of local people especially in the U.S., besides ramping up offshore strategy to optimize costs.

Source:http://www.siliconindia.com/shownews/New_US_rules_offer_4_Billion_opportunity_for_Indian_IT_firms-nid-68159.html

Today, companies are now hiring other companies in other countries to do their business or part of their business. This particular type of business strategy is called offshore outsourcing.It is a fact that in today’s business world, offshore outsourcing is now becoming a very feasible trend for companies who wants to expand their business or to simply reduce their overhead expenses.As an entrepreneur, you would definitely want to reduce the operating costs of your business without sacrificing your businesses functionality. By outsourcing your business or at least part of your business, you can indeed expand and reduce operating expenses. Outsourcing is a very large industry in developing countries, such as India and the Philippines. Your company can definitely hire companies in these two countries to outsource part of your business or even all of it. However, you should take note that you should choose an outsourcing company that provides quality and professionally done jobs.You should also consider which country you should outsource your business in.

People in different countries have different culture and education. You have to choose which people, culture, and educational standards that your company can benefit from.For example, in India, this country has one of the largest populations of IT professionals in the world. Because of the British influenced educational systems in this country, the education on math and science in this country is greatly emphasized. This country has one hundred and twenty thousand trained IT professionals added to the workforce every year.India is now being considered as an IT center in developing countries and is also one of the countries that United States companies prefer for software or IT outsourcing. India has created a strong reputation as one of the leading countries in IT outsourcing industry in the world.In the Philippines, it is an entirely different story. Because this nation is considered as Asia’s English speaking countries that have 94% literacy rate, this country is also considered to have a large population of IT professionals in the world. With over three million college graduates joining the workforce every year, this country is indeed one of the best source for talent.Although the Filipinos are Asian, it was influenced by Americans for over 50 years and has developed a western culture. Filipinos loves watching American television and because of this, the people in the Philippines are fluent in American English and can communicate effectively with Americans and other English speaking nations.Because the Filipinos are fluent in American English, this country have become a premier choice of the United States for call center outsourcing. If you are looking for call center services that are able to provide quality customer support service, the Philippines is definitely the country to look for call centers. Although India charges less for its call center services than in the Philippines, more companies in the United States prefer the Philippines more for customer care jobs because of the quality of work they offer.Another factor that the Philippines is chosen for call center jobs is that not only that the people here speaks fluent American English, but they are also friendly and helpful in nature.These are the things you should consider when choosing a country to outsource your business or at least part of your business. You also have to consider the people living in it and the culture they were brought up with in order to know where to outsource your company’s project.

Source:http://azangela01.vox.com/library/post/outsourcing-around-the-world.html?_c=feed-atom