Today, outsourcing has become a mainstay of corporations. It is mainstream, it is global and it is rapidly changing. This dynamic has a huge impact on the competitiveness of global corporations. Yet, offshoring is not what it was even a few years ago. Its complexity has risen manifold. It embraces multiple locations and multiple processes as companies seek, presumably, to optimize the gains from outsourcing. This change has dramatic, exponentially raising the potential for outsourcing corporations and for nations seeking to provide the services. But it also has raised risks and brought on newer, and varied, risks, many of which are not fully assessed by risk managers. The top 30 outsourcing destinations, according to Gartner, are emerging markets that bring varied, and often high, risks.
Over the past year, in particular, many of these risks have been brought to light by global events. Take the geo-political situation in Egypt that led to an unprecedented nine-day Internet shutdown; or the devastating combination of earthquake and tsunami, followed by a nuclear disaster that brought Japan to its knees. These two situations in sharply contrasting locations – one, an emerging outsourcing hub and the other one of the world's most industrialized nations – represent, probably, the worst nightmares of outsourcing managers. But they are, by no means, the only possible doomsday scenarios. There are many other time bombs ticking away all the time, arising from the unique character of each country and city, endemic risks from financial turmoil such as the one in Greece, policy-driven dynamics and even supplier-specific vulnerabilities.
Still, the higher risks are no reason for companies to turn the clock back on outsourcing or give up on further gains. Neo Group, through its extensive Outsourcing industry expertise and experience, understood fully that the need of the hour is a proactive and effective risk-monitoring mechanism and strategy to monitor these kinds of risks continuously in order to help the management take better and informed decisions! GSRMSM exactly does that by continuously monitoring Global risks at a Country, City and Supplier level; also giving Global risk managers the ability to Predict the occurrence of these risks in future, thereby helping them manage their Global outsourcing operations much more effectively with extensive data to take real and informed decisions.
What is GSRMSM