Facts About Outsourcing Companies in Dubai
Ever thought why Dubai is a favorite business destination in their world? The probe for the reasons behind its immense success summarizes the following points: Diverse markets with opportunities galore especially for startups And SME’s.Dubai is one of the largest wealth management centers in the world with a substantial number of high-net-worth individuals.A pro-business supportive government offering state of the art infrastructure, tax-free environment and repatriation of income to native countries for expats. As a result of all above noted factors, investors from all over the world are being attracted to Dubai and resultantly the state has seen a fabulous growth in a number of businesses both small scale to giant multinationals. In order to survive and grow in fiercely competitive markets of Dubai, companies are increasingly focusing on their core business functionalities and are outsourcing their support functions. Dubai has witnessed an immense growth of outsourcing companies in the recent past. The businesses in Dubai aim to gain expertise, cost reductions, and the benefits of cutting-edge technologies by outsourcing their support functions like HR, accounting, VAT implementation, IT solutions and organizational planning etc. Outsourcing in Dubai is a major economic driver in Dubai: Outsourcing is a great contributor to Dubai’s economy both in terms of its fabulous profits as well as a great boost it is providing to client businesses in enhanced performance. According to a report released by IDC (International Data Corporation), the outsourcing sector is enjoying an amazingly high compound annual growth rate of 11.2 %. The report titled as “UAE outsourcing market outlook, 2016-2020, also reveals that BPO or Business process outsourcing revenues in UAE are estimated at US$ 877 million which will reach US$ 971 million in 2018 and US$ 1.195b billion in 2020. This is for sure an amazing growth for any business sector. DUBAI OUTSOURCED CITY: Even the Dubai government approves and supports outsourcing. It has offered an amazing business park called as “Dubai outsourced city” or DOD. It is dedicated for outsourcing companies in Dubai which enjoy 100% ownership, foolproof security, quality networking, and top-of-the-line infrastructure. Mr. Ammar Malik the executive Director of DOC describes the following three factors for its success. Continuous improvement in the quality of service.Technological developmentOpportunity to university students works part-time driven by employment regulation framed by Dubai’s creative clusters Authority, allowing university students to work part-time. Adoption of cutting-edge technologies is an emerging trend: This trend is very evident in the outsourcing industry and, companies are now embracing innovative technologies like AI (Artificial intelligence), blockchain, machine learning, and virtual reality in order to provide highly viable and effective solutions of businesses in critical areas of financial management strategic planning and information technology. Process automation is an emerging trend: UAE, in general, and Dubai in particular, across the board companies are seeking process automation because of the speed and reduction in costs. Since the biggest chunk of business houses relate to SME’s, which are tight on budgets, this phenomenon is now dominant in all of Dubai’s markets. All outsourcing companies in Dubai are now focusing on this aspect and are equipping themselves with required skills. Building a partnership with specialized outsourcing companies in Dubai: In Dubai, the business entities are increasingly building relationships with outsourcing service providers. They are doing so with a special emphasis on enhancing skills levels of their staff and filling their gaps in critical skills and core competencies. Another area of their focus is developing efficiencies in order to cost minimization which is now a critical requirement of every company in Dubai. Innovation is another important factor behind these partnerships. So, outsourcing companies in Dubai are helping lower the burden of companies and due to it, companies can get a chance to get a versatile team to work for them. Another benefit of outsourcing which companies have is that they don’t have to hire someone for fulltime, they can hire on contract bases and once the task is completed the contract ends. And this methodology helps companies save hundreds of AED. If you are looking for an outsourcing company in Dubai, Apex Business Centre can be a good option for you as they have experts from different fields who can help you with business plans, VAT, tax, accounts, etc… Read the full article













