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Well, I worked for “megabank” back in the 00s and they tried to outsource to India. It failed miserably, and cost more than it saved. Time zones didn’t work. L

Well, I worked for “megabank” back in the 00s and they tried to outsource to India. It failed miserably, and cost more than it saved. Time zones didn’t work. Language problems. Lack of communication. There’s a reason London and New York work well together. Time zones and language. And a relatively short plane hop.

sumedh 5y ago
> Well, I worked for “megabank” back in the 00s and they tried to outsource to India. It failed miserably, Your one anecdote is pretty meaningless, you just need to look at the revenue of Indian outsourcing companies, it keeps going up.
- DrBazza 5y ago
  My "anecdote" isn't "pretty meaningless". The bank I worked for didn't spend hundreds of millions of pounds on a whim. They spent the money with the aim of saving more money by outsourcing technology work to India. It failed, and it failed miserably, and my former employer learnt a very expensive lesson. My colleagues in other investment banks reported similar stories in the 00s. That's far more than one data point. Investment banks are not like other companies. They particularly enjoy writing their own code and systems, so when they tried to outsource and discovered that they weren't correct, or on time, they brought it all back in house. > you just need to look at the revenue of Indian outsourcing companies, it keeps going up. That's "pretty meaningless" without any data backing it - what's driving that revenue? Does Wipro, for example, publish its revenue figures for its IT outsourcing arm, and break that down further with key indicators? I can say with some confidence, that Goldman Sachs, JP Morgan, Citigroup, won't be the "drivers" of that revenue, and that's what the original article in this thread was talking about.
  - sumedh 5y ago
    You are just adding more anecdotes which I already told you is meaningless. > That's "pretty meaningless" without any data backing it - what's driving that revenue? All the big IT Outsourcing companies are listed on the Indian stock exchanges, you can go to their sites and read the annual reports to see what is driving that revenue. Majority of their revenue comes from the US. Also check the share price of those companies for the last 20 years, where your bank failed, other succeeded in outsourcing their operations.
- halfmatthalfcat 5y ago
  How is revenue tied at all to efficacy? Your analysis is too shallow to have any meaning.
  - sumedh 5y ago
    Its not my analysis, those are the facts, their revenue keeps going up, their profits keep going up, their share price keeps going up, their clients keep going up. Now you do the math.
    - halfmatthalfcat 5y ago
      That has nothing to do with quality of work. Ok their financials are going up. Maybe they’re charging more, maybe they’ve reorg’d, maybe they laid off a ton of people, maybe they made good investments and sold. I’m not taking “they’re making more money” to mean anything other than the sole fact that a number on the balance sheet went up.
      - sumedh 5y ago
        You dont have to speculate with maybe's. You need to look at the facts All the big IT outsourcing companies are publicly listed, you can go to their website and check their annual reports to see how their revenue is going up for. You can see the number of employees keeps going up, the number of clients keeps going up. All these figures are available for 20 years now.

sumedh 5y ago

> Well, I worked for “megabank” back in the 00s and they tried to outsource to India. It failed miserably, Your one anecdote is pretty meaningless, you just need to look at the revenue of Indian outsourcing companies, it keeps going up.

DrBazza 5y ago
My "anecdote" isn't "pretty meaningless". The bank I worked for didn't spend hundreds of millions of pounds on a whim. They spent the money with the aim of saving more money by outsourcing technology work to India. It failed, and it failed miserably, and my former employer learnt a very expensive lesson. My colleagues in other investment banks reported similar stories in the 00s. That's far more than one data point. Investment banks are not like other companies. They particularly enjoy writing their own code and systems, so when they tried to outsource and discovered that they weren't correct, or on time, they brought it all back in house. > you just need to look at the revenue of Indian outsourcing companies, it keeps going up. That's "pretty meaningless" without any data backing it - what's driving that revenue? Does Wipro, for example, publish its revenue figures for its IT outsourcing arm, and break that down further with key indicators? I can say with some confidence, that Goldman Sachs, JP Morgan, Citigroup, won't be the "drivers" of that revenue, and that's what the original article in this thread was talking about.
- sumedh 5y ago
  You are just adding more anecdotes which I already told you is meaningless. > That's "pretty meaningless" without any data backing it - what's driving that revenue? All the big IT Outsourcing companies are listed on the Indian stock exchanges, you can go to their sites and read the annual reports to see what is driving that revenue. Majority of their revenue comes from the US. Also check the share price of those companies for the last 20 years, where your bank failed, other succeeded in outsourcing their operations.
halfmatthalfcat 5y ago
How is revenue tied at all to efficacy? Your analysis is too shallow to have any meaning.
- sumedh 5y ago
  Its not my analysis, those are the facts, their revenue keeps going up, their profits keep going up, their share price keeps going up, their clients keep going up. Now you do the math.
  - halfmatthalfcat 5y ago
    That has nothing to do with quality of work. Ok their financials are going up. Maybe they’re charging more, maybe they’ve reorg’d, maybe they laid off a ton of people, maybe they made good investments and sold. I’m not taking “they’re making more money” to mean anything other than the sole fact that a number on the balance sheet went up.
    - sumedh 5y ago
      You dont have to speculate with maybe's. You need to look at the facts All the big IT outsourcing companies are publicly listed, you can go to their website and check their annual reports to see how their revenue is going up for. You can see the number of employees keeps going up, the number of clients keeps going up. All these figures are available for 20 years now.