India’s data outsourcing industry is no doubt one of the oldest players in the outsourcing sector, but still it contributes significantly to the overall business generated by this dynamic sector, both in terms of value and volumes. It is estimated that data entry outsourcing services will contribute around 39.7% to the overall revenues generated by the outsourcing sector during the financial year 2008-2009. That will be quite a significant contribution, considering the fact that the global outsourcing market is currently worth a staggering $148 Billion and that India’s share is approximately around 27.3% and growing every minute.
The data entry industry has consistently produced double digit growth rates and is set to achieve even greater heights of success in the years to come. This is based on reliable market research data that indicates that demand for data entry outsourcing is now also being generated by Small & Medium enterprises as well. Earlier, the demand mostly came from large businesses based in the US and the UK, but with the subprime crisis adversely affecting all types of businesses, large and small, even the Small & Medium enterprises have started to feel the need to reduce costs and improve efficiency. Outsourcing data entry functions is a proven method for reducing operational costs and improving efficiency and that is one of the main reasons as to why more and more Small & Medium sized businesses have started hiring data entry services.
The ability of India’s data entry firms to achieve desired levels of accuracy is also one of the important factors that has aided the growth of the data entry outsourcing industry. Some of the best data entry outsourcing firms have consistently achieved and maintained accuracies as high as 99.99%, something that explains very well why India’s data entry firms are being preferred by businesses worldwide. It’s basically a win-win for both clients and India’s data outsourcing industry.