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Rise in the Growth Rate of Premedia Outsourcing Services

Rise in the Growth Rate of Premedia Outsourcing Services
Outsourcing – the term much familiar in the media industry. Printing and creating innovative design has always been outsourced at a global level in recent years. As per the report published in Business Standard, India is the first choice when it comes to designing, and media outsourcing. 66% of major publishers voted that they will seek outsourcing services from India. With the above statistics in knowledge, this article will lead you to know more on;
  • Premedia offshore trends worldwide
  • Growth trends of premedia outsourcing services
  • Outsourcing to India and why?
  • Challenges faced in the media industry
Analysis of Customer Satisfaction in media outsourcing Premedia Outsourcing Trends Worldwide Premedia achieved a growth rate of 5.8% in India in the year 2014-15. It has led to the registration of 1,05,443 new publications. Premedia deals with the designing of magazines, newspapers, STM journals, books, etc. Reports indicate that Newspaper advertising will amount to 16.1 billion US dollars in the current year: 2017. The infographic depicts a big shift in the print industry in recent years; Let’s Explore More on Premedia Growth Trends in India The report also showed that India is ahead of the US, UK, China, Philippines, and Australia. 30% of firms from the USA seek premedia outsourcing services from India. Similarly, the Philippines (18%), the UK and China (16%), Vietnam (8%), and Australia (5%). The remaining 18% followed other locations. The survey also indicated major growth in outsourcing firms of about 30% to 40% solely in India. Agencies like Eon Premedia and Basil have also experienced growth in India. They mentioned that “Outsourcing is a business opportunity that may have a finite window in India” Planning to outsource Premedia Services to India? The below picture clearly depicts that India is becoming a global place for premedia outsourcing.
Premedia Growth Influencers
Rise in the Growth Rate of Premedia Outsourcing Services
Factors influencing growth in India –
  • Reduced cost
  • Faster turnaround time
  • Value-added services
  • Higher production
  • Production during off-hours
  • New thoughts and ideas resulting in revenue growth
  • Concentration on the core work
  • Time management
  • Long-term relationship with customers
  • Control of strategic decision-making
  • Reduced overall management burden
  • High-quality delivery of projects
With the above statistics and benefits mentioned, it is obvious that many publishers are looking to outsource premedia work. One such premedia outsourcing company is Indovance – a leading name that provides the best services and takes care of all customer requirements. Challenges in Outsourcing But how can we forget, there are always some challenges and cons involved in the growth of the industry which may hinder its path towards success? Similarly, premedia and publishing involve challenges like;
  • Quality Issues
  • On-time delivery
  • Manpower management
  • Communication
No matter, how large the size of the project is, well-defined business processes can overcome any challenge. Analysis of Customer Satisfaction on Premedia Outsourcing The most important measure of any industry is the satisfaction level that the customers feel. As from the survey conducted recently, 75% of the buyers said, they need considerable improvements in the services, while 58% said, the quality of service needs drastic improvement. It also indicated that 42% of the companies are planning to increase outsourcing by 25% to India, while 33% will outsource at the present destinations. “Though 16% of the companies did not show interest in outsourcing, still the premedia and publishing market is all set to rise to 15%-20% in the upcoming year, as per the reports. “ India is becoming a global hub for premedia outsourcing. The benefits and statistics are in favor of premedia being outsourced to India. Apart from this, building an extended team of designers outside your prime location not only reduces your investment but gives you a bigger coverage area to search for hidden talent. Other major factors like faster turnaround time and timeline differences also make buyers select India as an offshore center.
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