What is business process offshoring and is it worth it?
Over the past few years, businesses in almost every industry have turned to business process offshoring. According to a Deloitte Global Outsourcing Survey, 59% of businesses offshore to cut costs, while 57% do so to focus on core business functions. Additionally, the global business process outsourcing (BPO) market is expected to reach $525 billion by 2030, growing at a CAGR of 9.4%. This highlights how businesses worldwide are leveraging offshoring to scale their operations effectively.