The scarcity of professionals in the fintech domain has heightened this need for external assistance. The global dearth of IT workers is staggering, with approximately 80% of businesses in the US citing recruitment as their most challenging business obstacle.
According to a recent study, 66% of UK organisations plan to continue or increase their outsourcing efforts in the next two years, with 32% confirming an intention to ramp up outsourcing. In addition, 62% of survey participants identified a lack of in-house capability as the primary obstacle to successfully executing complex transitions.
Besides cost reduction, organisations outsource to concentrate on their core business functions (57%) and acquire access to skilled resources and talent (56%). These benefits of outsourcing enable organisations to streamline their operations, reduce their workload, and increase their competitive edge.