Companies looking for savings but worried about the risks and cultural barriers involved in offshore outsourcing, whose business processes have a strong customer focus or regulations-driven reporting element, could benefit from nearshoring. Nearshoring involves outsourcing work to companies with the economic benefits of an offshore location, but a closer cultural, linguistic, and geographic fit with the user organisation.
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a nearshore contract. But how close? Virdi puts it at anywhere within three and a half hours' flying time, meaning most European destinations qualify. We can get to Budapest in three hours, but we cannot get to Mumbai in less than eight, he says. This represents a significant overhead when putting people on the ground at the outsourcing location, which is something most companies should do. It is easier travel, more flights and easier time zones. In truth, nearshoring locations sit along a spectrum