Outsourcing to Jamaica
The global size of outsourced industries has steadily increased to current levels of USD 88.9 billion (Statistica). The Caribbean and in particular Jamaica has enjoy a growth in its popularity as well generating revenue in excess of USD 240 million (Jampro 2014) that employee 15,000 persons, across 15 companies. So, what is outsourcing and what are the benefits of an offshore partner doing your Business Processes work for you?
What is offshore outsourcing?
Outsourcing is the entrusting of your business processes to an external vendor in another geolocation for financial benefits. Such business process functions can include: payroll, ordering and inventory management, customer service and others, transcription services, etc.
What are the Benefits of Outsourcing to Jamaica?
- Cost advantages of lower wages and IT support. Jamaica’s labour wages are about a 1/3 of those of the USA and ¼ of those of Europe (International Labour Organization). You can get you job done for similar or better quality and save 60 to 70% of the wage bill.
- Access to personnel and markets. Jamaica has two 1st class international airports that between 1 to 3 hours of flight time from Miami and New York.
- Access to educated, skilled English Speaking resources. With over 1.3 million skilled workers, 120,000 university graduates and 400,000 high school graduates with English as the mother tongue, Jamaicans can fill any post at a 1/3 of the cost.
- Time zone advantage to both European and USA markets being tuned to the Central or Eastern time and at most three hours different from the west coast.
- Government Incentives abound. Free Zone status gives BPO Duty-free importation, GCT-free importation, No requirement to pay the other port related taxes for an indeterminate period and Profits earned are also free from income tax for an indeterminate period (JAMPRO).
- High quality world class Information and Communication Technology (ICT) infrastructure. In 2015 the World Economic Forum ranked Jamaica 82 for Networked Readiness and 71 for Affordability.
CEAC Outsourcing serves a number of industries (see your industries) with a number of cost effective services to give you the Jamaican advantages for both full outsourcing as well Recruitment Process Outsourcing.