Firms value access to skills from outsourcing R&D

The most valuable aspect of research & development (R&D) outsourcing is the opportunity it provides to tap into worldwide skills and capabilities, according to a survey by Indian IT services firm Wipro.

The study also revealed that selecting an R&D partner with a deep knowledge of emerging markets and new geographies will enhance the value that companies can achieve through their outsourcing strategy and improve existing products and services.

Debra Floyd, chief operating officer of the Outsourcing Center, who conducted the research said: 'This study indicates a strategic change that is taking place in the way companies are looking at their R&D and new product development strategies.

'There is an increased trend of companies partnering with various outsourcing providers to achieve faster time to market and more cost-effective innovation. There is clearly an increase in companies adopting a collaborative model of product development to be able to stay competitive in a global marketplace.'

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Further Reading:

Asian firms to outsource $16bn by 2010

Western Europe's top 100 outsourcing deals hit $40bn