Bangladesh is one of the fastest developing countries in the world. As an idea, outsourcing in Bangladesh is not a new one. Preferably in recent times, the ‘outsourcing’ trend has gained so much popularity and acceptance in Bangladesh that people from different levels of society are coming into this profession. This new phenomenon is transforming Bangladesh into a brand-new nation. There is no doubt that by working in the outsourcing arena, in the coming future, Bangladeshi people will find a remedy for unemployment and also be able to bring a revolution in economic development.
Table of Contents
- 1 What is outsourcing
- 2 Outsourcing Synonym
- 3 What is Online Outsourcing?
- 4 Available Online outsourcing jobs in Bangladesh
- 5 Present condition and attempts to inspire outsourcing
- 6 Enhancement of women freelancing careers in Bangladesh
- 7 Advantages of doing outsourcing jobs for women
- 8 Initiatives for motivating women in freelancing career
- 9 A recent ranking of Bangladesh in outsourcing
- 10 Possibilities of tremendous success in outsourcing
- 11 Existing obstacles in outsourcing
- 12 Government’s steps for enhancing outsourcing possibilities in Bangladesh
- 13 Plans and prospects
- 14 What is outsourcing in business?
- 15 Importance of outsourcing business in Bangladesh
- 16 How to start an outsourcing business in Bangladesh
What is outsourcing
Organizations outsource to cut costs. The term ‘outsourcing’ became popular in the early 21st century in the United States. Now outsourcing is becoming more common in information technology and other industries for services. Recently outsourcing is about reducing costs, but it’s also about accessing skilled expertise in the global market to achieve quality work. Basically, ‘outsourcing’ means asking another party to work on a contractual basis.
Therefore, outsourcing is transferring or subcontracting work to an external provider, either within or outside the organization. The outsourcing process involves the transfer of a portion of a company’s work to a third party. Outsourcing is a standard business practice, and it is used to cut costs, save time, and meet the growing demands of the market. Outsourcing can be defined as contracting out work from one organization to another for the benefit of both parties. How about another word for outsourcing? Are there synonyms for outsourcing? outsourcing, subcontracting, delegation, the delegation of authority, subcontracting of work, and offshoring is the Outsourcing Synonym
What is Online Outsourcing?
In the early 21st century, one of the most considerable changes came when people started to use online technologies (Internet) for outsourcing. They began to use online outsourcing to provide a ‘service delivery business’ that can do virtually anywhere and anytime. It is also known as freelancing, and people working on it are known as freelancers. Online outsourcing allows reducing the need for hiring and training specialized staff. The chance of bringing in new expertise has increased. Online outsourcing also lessens the capital and operating expense.
Available Online outsourcing jobs in Bangladesh
People are currently getting involved in various online outsourcing jobs in Bangladesh. IT-related tasks like Data Entry, Graphics Design, Software Design and Development, Web Designing, Multimedia, and Search engine optimization (SEO) are Bangladesh’s most popular online outsourcing jobs.
A rising number of training centers for providing outsourcing knowledge. Currently, a trend of outsourcing training in Bangladesh is developing. Many private outsourcing training centers have grown in Bangladesh, especially Dhaka and Chittagong. Day by day, the number is rising high. Some of these training centers provide excellent training in doing outsourcing jobs. Advance IT is one of the best training centers among the outsourcing training centers in Dhaka. It is trying to give people knowledge and guidance about outsourcing techniques. It has arranged various training modules on Search Engine Optimization (SEO), Social Media Marketing (SMM), Web Design, Graphics Design, and Affiliate Marketing. It plays a vital role in producing successful freelancers who can work in the international outsourcing market. Advance IT Institute to train people to earn money online from home, communicate with the buyers, payment system, etc. Thus, it is contributing to outsourcing training in Bangladesh. The outsourcing training centers in Dhaka are also Upwork job training centers. Upwork is the world’s largest online workplace for professional freelancers.
Present condition and attempts to inspire outsourcing
Many entrepreneurs and individuals have contributed to society and the country with their hard work and talent through online outsourcing. According to BASIS (Bangladesh Association of Software and Information Services), more than 1 Lac Bangladeshi freelancers work worldwide. They accumulate all of the cash that Bangladeshi freelancers earn, about one crore BDT daily, from various freelancing marketplaces. BASIS has been arranging an award program to inspire more people to do online outsourcing jobs in Bangladesh for the past few years. One hundred (100) awards have been given in four (4) categories in BASIS Outsourcing Award 2014.
Enhancement of women freelancing careers in Bangladesh
Gender discrimination is a burning issue in Bangladesh. The most common reasons for female unemployment in Bangladesh are the hostile working environment and social issues, including family support, road safety, etc. For these matters, sometimes women don’t get help from their families for working outside. Women usually get less money for the same work as their male coworkers.
The above issues can be solved by enhancing women freelancing in Bangladesh. An outsourcing or freelancing career can be an excellent opportunity for women in Bangladesh. In this way, they can get the chance to manage their family and continue their career.
Advantages of doing outsourcing jobs for women
- Home-based work
- Freedom of choosing working hours and time
- No gender discrimination
- Diversity of work
- Learning opportunities
- Opportunities for building up technological skills
- Lots of chances for taking intellectual challenges
- Good source of enormous income
Initiatives for motivating women in freelancing career
- The government has taken action to create 55,000 freelancers at the root level in Upazila in 2014. Out of the total number of freelancers, 20,000 would be women of Union and Upazila levels who will get primary IT Literacy and outsourcing training.
- Bangladesh Open-Source Network and some prominent women freelancers in the country are trying to promote women freelancing in Bangladesh. Different World-renowned outsourcing marketplace, including Upwork, Freelancer, and Elance, have spread their hands to this campaign.
- BASIS introduced a particular category for female freelancers to their award program in 2014 to encourage women freelancing in Bangladesh.
- Among outsourcing training centers in Dhaka, one private training center has recently offered free outsourcing courses to train up to 200 women through a selection process.
A recent ranking of Bangladesh in outsourcing
- Bangladesh has been selected as one of the best spots for IT outsourcing.
- A.T. Kearney Global has selected Bangladesh among the best places for IT jobs outsourcing. AT Kearney Global is the world’s renowned and leading management consulting firm. It has ranked 51 countries worldwide as the best destinations for outsourcing software and IT-enabled services. It has published a report which stated that it had marked Bangladesh among the best spots for IT jobs outsourcing. Regarding ‘ Financial Attractiveness, ‘ Bangladesh has ranked among 51 countries, including India, China, Australia, Canada, and the UK. In the index, Bangladesh has got the 26th position. Among the listed countries, India has obtained the 1st position, Pakistan in the 25th position, the United Kingdom (UK) gained 27th, Canada 37th, Australia ranked 49th, and Ireland got the lowest.
- Bangladesh became 3rd in the list of top ten on Upwork.
- The study of A.T. Kearney Global says that Bangladesh has become a central point for outsourcing jobs via online marketplaces such as Upwork. Bangladesh has shown tremendous improvement in Upwork. In 2009, the country accounted for only 2% of the total hours worked on Upwork. At present, it accounts for 10%. Bangladesh has become the 3rd (third) country for contractors on Upwork. It is now behind two countries, the Philippines and India. It has moved quickly to the forefront of entrepreneurial activity.
Possibilities of tremendous success in outsourcing
- The reasons that can drive Bangladesh to get immense success in outsourcing are:
- The primary requirements for outsourcing are cheap and straightforward. All that is needed is just a computer with an internet connection and proper skills.
- Bangladesh has a young, educated, and enthusiastic workforce willing for more economic opportunities.
- The income obtained by online outsourcing jobs is impressive compared to Bangladesh’s living standard and average salaries.
- The freelancers in Bangladesh can offer quality services cheaper than in other countries.
Existing obstacles in outsourcing
Some obstacles still exist in the sector of outsourcing. The barriers are:
- Costly and slow speed internet connection
- Electricity load shedding problem
- Communication barrier (Knowledge of English is not up to the standard for communicating with the foreign buyers)
- The Payment System is not suitable for international money transactions.
- Lack of Patience and proper skill
Government’s steps for enhancing outsourcing possibilities in Bangladesh
- On 25th January 2014, the National Economic Council (ECNEC) Executive Committee approved 180 core BDT on outsourcing training in Bangladesh. The training project is known as the ‘Learning and Earning Program.’ This project created employment opportunities for the young unemployed educated people at the Upazila and union levels.
- In 2013 Bangladesh earned 20 million US dollars from the outsourcing sector. We hope the amount will be at least double in 2019. Under the Government’s first phase, the ‘Learning and Earning program,’ 15,000 freelancers have already been developed. They have started to contribute to earning along with freelancers working at an individual level.
- To create 55,000 freelancers at the root level, the Government has taken steps to launch the second phase, ‘Learning and Earning Program’ at upazilas in 2014.
- The government is working to turn the 4516 Union Information Service Centers (UISCs) into a mini freelancing center. Freelancers to be developed under the ‘Learning and Earning program’ will get the chance to work in the UISCs.
Plans and prospects
- The development in the IT sector in Bangladesh has been in the last five years. Internet users have increased from 13 lakhs to 4 crores, 80 lakhs. This figure will continue to grow in the future, which will help improve the outsourcing business.
- Bangladesh IT services have included AT Kearney’s report GSLI (Global Services Location Index) for the first time. It will attract Foreign Investors to invest in the IT sector of Bangladesh. This will also enhance the outsourcing industry and develop more freelancers in Bangladesh. Bangladesh is presently securing the 26th position. BASIS will work to bring Bangladesh within the top 10 countries.
- The government plans to develop entrepreneurs from freelancers. Then promote these entrepreneurs as Business Process Outsourcing (BPO) professionals who would contribute to earning foreign currency.
- The government will launch a program soon to create master trainers. They will train the selected people across the country to develop as outsourcing professionals, entrepreneurs, and BPO professionals.
At present, Bangladesh has become the primary destination for outsourcing business. Recently, the European Commission has selected Bangladesh as an ideal destination for outsourcing globally. BASIS (Bangladesh Associations for Software and Information Services), BCC (Bangladesh Computer Council), the apex body of Bangladesh IT software and service providers (IT & BPO), and BCS (Bangladesh Computer Samity) are working to build up and expand the sector of outsourcing. In the international outsourcing marketplace, the share of Bangladesh goes up day by day. The selection of Bangladesh among the best spot for IT jobs is a prestigious issue. Despite many obstacles to outsourcing, the opportunities are immense.
What is outsourcing in business?
Outsourcing is a business practice where a company hires another company to perform services that it cannot do. For example, an outsourcing company may employ a web design company to build a website. There are many different types of outsourcing companies. Some companies specialize in a kind of service while others offer a range of services. In general, there are two main categories of outsourcing. The first type of outsourcing is when a company uses a third party to complete tasks that they cannot do themselves. For example, a company might hire a web design company to build a website. The second type of outsourcing is when a company hires a third party to perform a task that it does not want to do. For example, a company may hire an accounting firm to do its payroll. The benefits of outsourcing can be very positive. For example, outsourcing can reduce costs, increase profits, and improve productivity. Outsourcing can also help a company avoid some problems. For example, outsourcing can help a company avoid dealing with specific issues, such as dealing with the legalities of the job. Outsourcing can also be risky. For example, if a company hires a web design company to build a website for them and does not like the website, they could end up with a website that does not meet their expectations.
Importance of outsourcing business in Bangladesh
Bangladesh is a small country with a large population. There are not enough job fields as required. So many people are unemployed after completing education. Some of them get government or private jobs or start their own business. Freelancing or outsourcing is a vast marketplace on an online basis. More than two lacs Bangladeshi are outsourcing jobs, earning more than one core BDT from the various marketplace. It is high time to start an outsourcing business in Bangladesh. Before jumping into this marketplace, we need a clear idea about getting a perfect concept of this international marketplace. Without a plan, we can’t go ahead. If you do not have a basic idea about computers and the internet, you cannot be eligible for this marketplace.
How to start an outsourcing business in Bangladesh
Suppose you have a good idea about outsourcing business now, how you start it. You can start this business in two ways. First, build a website or a blog on your own and rank it by SEO. Advance IT Center is the best SEO service provider company in Bangladesh. Second, you can complete tasks like Upwork, Freelancer, Elance, etc. As an SEO expert, there are a lot of opportunities to improve in this sector. You can get innovative paid by others if you are an SEO expert. It is not imagined how many websites are being built day by day. An e-commerce site is one of them. Products are sold or bought online from this. Nowadays everybody is very busy with their job. They do not have enough time to go to the market and choose products. So, most of them buy online from a house.
Affiliate Marketing is one of the best ways to earn money by selling different products from other companies. Nowadays, a significant amount of Bangladeshi people is included in affiliate marketing. You have to build a niche site where different products show their reviews and characteristics from this market. You can get all kinds of help by outsourcing business from the Bangladesh ministry of information and technology. Bangladeshi people can start the outsourcing business with any process mentioned earlier to earn millions of foreign exchanges. Bangladesh government gives many facilities to create such types of companies.
In conclusion, it can be said that success comes in any field when three things are combined:
- To be on the right track at the right time.
- To be innovative and swift enough to identify the opportunity and
- To be skilled enough to work on the occasion.
The people of Bangladesh should pull these three things together to show the world their talent and success in the arena of outsourcing in Bangladesh.