Nearshore economies are being pegged as the next hotspot for outsourcing. Reports from Gartner indicate that the region is expected to see a 14.21% growth by 2018. Some of the main reasons for their rising prominence are their geographical proximity to the United States, a trilingual workforce and of course, the obvious, cost advantage. However, in order to become a viable outsourcing destination, Latin American companies have to ensure that their output is aligned with global delivery standards and that they can show value to their prospective customers from the resource outlays. This can only be achieved when the workforce is highly efficient and optimally productive. Companies looking to become leaders have to ensure the following:
- Identify ‘actual’ effort v/s ‘estimated’ effort
- Identify individual productivity capacity
- Have measurable key performance indicators that are aligned to business requirements
- Correct workforce estimation and management
- Have structured process management initiatives to eliminate budget overruns
Having an effort analytics tool in place helps companies mitigate some of these challenges by providing real time data and actionable insights. Productivity tools can also help companies prioritize workforce capabilities, manage complex business processes and ensure a satisfied workforce.