- February 11, 2014
- Posted by: Rayvat Accounting
- Category: Finance
In 2005 Thomas Friedman mentioned about the future of Flat world where competition would overrule traditional jobs and the manpower would be judged on global level. The vision of Thomas Friedman seems to be correct in 2014 where the outsourcing global outsourcing market is worth $373 billion.
With development of strong information technology and communications systems the gaps between different parts of world are reducing and world is about to become a small village. It strongly supports the development of outsourcing in global economic environment.
Thomas has some major events which are responsible for making this world flat:
There is major standardization in operating procedures by workflow softwares and it is literally changing how the world is going to operate in coming days.
India and China which have a huge pool of skilled manpower are going to be powerhouse of world by being leaders in providing quality services.
Apart from India and China, new locations like Malaysia, Mexico, Brazil are developing as preferred offshore destinations.
Information is available at finger tips due to development of various search engines.
Development of other technology like wireless, voice over internet, digitization etc. would give a push to developments in cross border work.
If you are still questioning the future of Outsourcing we would recommend reading book of Thomas Friedman written in 2005 – The World is Flat. Finance and Accounts is one of the fields which is recently developing in Outsourcing market. Total Finance and Accounts Outsourcing is $12bn as per research by “Hfs Research group“, India is a preferred hub for Finance Outsourcing.
We at Rayvat Accounting operate accounting and bookkeeping services in Flat world providing Accounting and Bookkeeping for Clients across US and Australia at competitive prices and best in class services.