Outsourcing creates liquidity for business in tough economic times, says Dubai Outsource Zone

Delivering a speech titled 'Recession and its impact on outsourcing business', at the annual Arab Outsourcing Conference 2009 in Dubai, Serra pointed out that as a business solution, outsourcing creates liquidity for a business and enables higher profit margins through lower costs.

Held from 26-29 April at the Movenpick Hotel, the Arab Outsourcing Conference attracted a number of international outsourcing experts and professionals offering a learning experience for those seeking unique solutions to understand the essential role of outsourcing within a business organization.

Examining the upside of outsourcing and the need to leverage its services through taking advantage in the most difficult economic times, Serra said: "Corporations can be downsized during a recession but not their services.

Today, successful companies are responding to outsourcing strategies by moving services and processes to outside organizations that offer niche services.

This way, a business can continue with its core operations and see tangible benefits accrue at the same time.

"Onshore outsourcing market opportunities are particularly strong in the Arab region. Offering more control and assurance to comply with international industry standards, as well as higher financial benefits including better risk mitigation, onshore outsourcing gives the virtual absence of cultural differences. We look forward to engaging with some of the world's prominent industry leaders to address some of the critical issues that we face in our line of work today."

Outlining critical recommendations for companies that provide outsourcing services, Serra offered a series of criteria that would ultimately differentiate a business between success and failure.

He listed identifying the long term partner for successfully achieving overall business goals; diversifying the company's portfolio to maximize profit levels, mitigate risk and help customers improve business efficiency in the long term; tailoring services to fit customer's needs; and providing specific value and measurable results, as some of the crucial imperatives that outsourcing companies must meticulously endorse to gain a firm foothold in the industry.

Noted in the top 50 of the special economic zones of the future by the Foreign Direct Investment magazine this year, Dubai Outsource Zone is home to many leading companies including Emirates airlines, Futech International, Arab Bank, AXA Insurance, Wipro, RBS, Mashreq Bank, MBS,DU and the Jumeirah Group.

Within the next few years, over 400 firms are expected to commence operations at the region's first outsourcing free zone. Already a leading destination in the MENA region, DOZ aims to evolve as one of the top 10 outsourcing hubs worldwide.