To expand operations in Eastern Europe and hire multilinguals to serve the European finance and accounting sector does not surprise anymore to the people. It is not a question anymore of there is an outsourcing need in the Europe, the more important question to ask os to how to monetize the growing demand. There are several ways of doing, the outsourcing companies can hire multilingual locals or they can set up operations in the Eastern Europe where there are more European languages speakers who charge at a reasonable rates or they can do both.
The IBM Business Services for instance has German and French multilingual Filipinos that doing finance and accounting work for their European clientele here in the Philippines. For a small to medium size outsourcing firms this is a good strategy to expand their services offering without having to open offices in Eastern Europe which entail a higher investment costs.
In Asia is quite even smaller when the industry specialization is factored in especially when it comes to finance although the pool of the European languages speaking people. It is no surprise then that India sees it is a better option to set up offices in Eastern Europe where German and French speaking labor supply is much bigger. This strategy allows them to almost immediately monetize the demand at a bigger scale. In Eastern Europe, the Infosys, Wipro, Tata Consultancy Services and Genpact have presence in Eastern Europe.
The Wipro has a 250 seater office in Bucharest and Infosys has a 450 seater center in Czech Republic to the tap into their multilingual workforce. The demand for the high skilled multilingual workforce will simultaneously grow with it increasing the global workforce competitiveness and even more blurring inter country boundaries.
REFERENCE:
http://www.blog.infinit-o.com/outsourcing-hubs-find-ways-into-european-market/
