Colombia is becoming a favored destination on the global stage for its fast growing outsourcing solutions in the call-center industry, IT field, BPO sectors and many more. Read our guide for more facts and information…
As several industries prefer to outsource their tasks, many companies have been established to provide outsourcing services. They offer IT solutions, accounting consultancy, integrated solutions, call center solutions, data management services, recruitment services and many more. Mostly located in developing countries like India, Brazil, China, Malaysia and Philippines, these companies ensure cost-effective services and high quality results. The advent of globalization and emergence of outsourcing solutions have brought about a positive impact in several industries.
The changing trend in Colombia
Over the past several decades, Colombia was considered unsafe, owing to disturbing reports of narcotic-related crime, guerilla groups and abductions. Therefore, security-conscious businesses and banking industries could never think of Colombia as a safe outsourcing destination. Even until a few years ago, Bogota was ranked as the riskiest business destination in the world. However, the assessments turned positive as things changed drastically, and the country has made big strides in striving against the issues. There has been an incredible slash in crime levels, and the negative picture in the global stage has been changing. Colombia is now known for its outsourcing solutions in Latin America.
Colombia – an IT hub of Latin America
The geographical location of Colombia is considered crucial for several IT industries that span the globe. With many daily flights to various cities of Latin America and the United States, it is considered the best location for IT-based outsourcing firms. Companies like IBM, Citigroup and Unisys have chosen Colombia for their business operations. Further, it shares a time zone with the east coast of the United States, adding to its appeal. Next only to Brazil, it has the biggest IT market and has a strong technical infrastructure, aligning with major outsourcing destinations like India, Philippines and China.
Colombia’s favorable factors for outsourcing services
The business environment in Colombia is favorable for global firms to invest profitably. The operational overheads and Internet costs are reasonably low. Besides, utility bills are cheap and average rental costs are also cheaper. The government has taken initiatives to attract international firms with tax exemptions so that companies do not have to incur import fees. The call-center industry has been long established in the country, and it is well versed with voice-based services. Though the IT sector was made of small software houses, the penetration of information technology and telecommunications brought a major change at the turn of the century.
Firms like Infosys and Tata Consultancy Services have software development centers in Medellin, the second largest city of Colombia. IBM has been developing educational programs to recruit students in order to focus on the expertise required in several fields. With specialized education, the country is ready to move into more advanced technology, including the financial sector.