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'Outsourcing vital for European cos'
October 26, 2004 15:22 IST
Global sourcing is becoming a strategic imperative with European companies, according to information technology major Wipro.
The Bangalore-headquarted company's global sourcing event 'Strategym' held in London on October 14 confirmed the trend, a statement said on Tuesday.
More than 100 senior management executives from European end-user organisations including industry experts explored successful global sourcing strategies, the company said.
The event covered key learnings, best practices, explored next steps in the evolution of global sourcing, and focused on how organisations are using it as a strategic tool to derive more value out of their investments, it said.
Wipro said a survey conducted at the forum confirmed a trend amongst European firms of plans to exploit global sourcing for multiple service lines. Seventy-four per cent of the executives polled said their global sourcing budgets would increase this year and 63 per cent were planning to leverage global sourcing for multiple service lines.
Carole Connolly, IS programme director, National Grid Transco, said his company had successfully leveraged the global sourcing model across information technology, application development and maintenance, package implementation and infrastructure outsourcing.