Even the fastest growing and most profitable companies are constantly seeking opportunities to cut expenses. Outsourcing of business processes is one of the most effective ways to do it.
Foreigners perceive Ukraine as a fast-growing exporter of outsourcing services in IT industry. Nevertheless, there are many other spheres where delegating tasks to contractors proved to be beneficial: logistics, accounting, financial and legal services, telecommunication and human resources management. Our country has considerable chances to succeed on the global outsourcing market and here is why.
Ukraine is a country of innovations: proved by ratings
For last few years Ukraine is widely spoken about all over the world and not only because of the political events taking place in the country. Reforms, which are hardly but still conducted in Ukraine, create new opportunities for national companies and increase the attractiveness of the country for foreign investors. According to the UN report Global Innovation Index 2016 Ukraine was ranked 56th among the most innovative countries in the world. The country definitely moves forward as it was ranked 64th in 2015 and only 71st in 2013.
Ukrainian position in the Global The rating of countries with the highest literacy rate innovation index rating
Source: Global innovation index
Ukraine is among TOP 20 countries with the most educated population in the World
This year Ukraine was ranked 20th among 128 countries according to the level of education of the population, having moved 16 positions upwithin last two years. Ukraine was also ranked 13th in the literacy level rating. Currently a comprehensive reform of the system of education is taking place in Ukraine, online courses become more popular and thanks to the GoGlobal program school children have an opportunity to improve their knowledge of English. All these major improvements will allow Ukraine to increase its competitiveness on the global labor market in the nearest future.
The rating of countries with the highest literacy rate
Source: Worldatlas
Outstanding achievement: + 17 points in the Global Services Location Index (GSLI). In 2016 Ukraine demonstrated a very positive dynamic of development – we moved up 17 positions up in theGlobal Services Location Indexand are now ranked 24th.
Global Services Location Index 2016
Source: A.T. Kearney
The investment attractiveness of Ukraine is confirmed by international organizations
The European Union and European Bank for Reconstruction and Development (EBRD) agreed to allocate 28 million euro for the development of small and medium size business in Ukraine. In 2015 Ukraine raised over 4 billion USD in foreign investments. These figures confirm the high investment attractiveness of our country. Moreover, according to the World Bank, the further GDP growth is as well expected in Ukraine.
The world market of business processes outsourcing is quickly developing: pursuant to the forecasts, its scope will amount to 220 billion USD in 2020. International companies are permanently looking for reliable contractors able to deliver qualitative services on regular basis. Ukraine demonstrating its openness towards new opportunities and preparedness to comply with the latest international standards on the global labor market has considerable prospects to lead the market of outsourcing services in the nearest future.