Wednesday, May 17, 2006
Outrageous and Heights of Insecurity
Now tell me how are you all gonna respond to this! I don't really know whether they are talking about India outsourcing work to other countries? Or they are saying by taking too much work outsourced by other countries we are not focussing on work back here? That sounds illogical. Because anyway they don't work. Someone who is aware of the financial sector please clarify!
The Little Clarification I got from my wife who works in the Insurance sector and specifically deals with the financial and capital market for the Little Shop is this:
1) Internal outsourcing. Example: Citibank outsourcing the maintenance, tracking and collection of Credit Card related issues to local Call Centres
2) Mobile companies outsourcing stuff to Call Centres. Am sure all of us would at some point have received phone from our own respective network where they offer you another airtel/aircel/hutch connection. Stupid. They aren't from the Network Operators, but their little stupid call centres that are tucked in all over chennai. I have visited some of them. It's pathetic how they look. They look like a dunghole of some printing press' cutting section.
3) Companies in the insurance sector outsourcing maintenance etc of bonds debentures etc for backoffice work. Actually there is a mega company in Chennai called CAMS whose main work is handling backoffice work for most of the stock/insurance such like companies. You can imagine the amount of backoffice work required these days and you can imagine how much of outsourcing is required because no company can finish these chores even if they worked dutifully their full 9 hours at 6 days a week and some overtime. Work has got cluttered and unnecessarily complicated in the name of division of labour and creation of employment so much. It is pretty interesting how we are fighting internal outsourcing even while there is such a brouhaha about India as the prime destination of Outsourcing for US and Europe and Australia. India as the key competitor with an English-speaking edge over China etc. Imagine why the foreigners from the respective countries are right about grumbling about some little twerp Indian attending their queries posing as Jill or Bill!