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BruntWork shares surprising remote work statistics as it positions itself to overtake Accenture, Cognizant, Infosys, Genpact

By Guardian Nigeria
20 June 2022   |   7:22 pm
  Outsourcing is no longer the scary concept it once was, due to the prevalence of remote work practices around the world. 91% of remote workers earn more compared to working in an office, according to BruntWork’s latest “Truth About Remote Work” survey conducted in May 2022. 85% of respondents (>500) never want to go…

 

Outsourcing is no longer the scary concept it once was, due to the prevalence of remote work practices around the world. 91% of remote workers earn more compared to working in an office, according to BruntWork’s latest “Truth About Remote Work” survey conducted in May 2022. 85% of respondents (>500) never want to go back to an office. The respondents comprised virtual assistants, telesales agents, web developers and more.

Remote work has been on the rise for the past few years but even still in 2022, work-from-home is a favourite among staff globally. And who could blame them? No more commuting and creature comforts are among of the core reasons why staff continue to want to stay home while working. 

Whether you’re an employer thinking about maintaining work-from-home policies even after the health crisis is over, or an employee starting to look for remote opportunities in their industry, there’s a lot you can learn about the universe of remote work. And some of the new remote only outsourcing companies are seriously challenging the stalwarts of outsourcing in ways not imaginable before the pandemic. 

1. Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, they offer outsourcing as a key pillar of their services. They have 699,000 people working for them, delivering on the promise of technology and human ingenuity every day, serving clients in more than 120 countries.

Accenture operates business processes on behalf of clients for specific enterprise functions, including finance and accounting, sourcing and procurement, supply chain, marketing and sales, as well as industry-specific services, such as platform trust and safety, banking, insurance and health services. 

2. Cognizant

Cognizant is an American multinational information technology services and consulting company. It is headquartered in New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. Cognizant had a period of fast growth during the 2000s and became a Fortune 500 company in 2011; as of 2021, it is ranked 185.

Recently Cognizant said it is simplifying its organizational model and embarking on a “Fit for Growth” plan that will involve strategic investments and measures to streamline the cost structure. Revenue for the fourth quarter increased to $4.3 billion, up 4.2% in constant currency from the year-ago quarter, higher than the company’s guidance of 2.1-3.1% growth. The operating margin for the fourth quarter stood flat at 17%.

3. BruntWork 

Last month, BruntWork announced year on year growth of 384% topline. BruntWork has an overall rating of 4.5 out of 5, based on over 46 reviews left anonymously by employees. 86% of employees would recommend working at BruntWork to a friend and 86% have a positive outlook for the business. This rating has been stable over the past 12 months.

Why are remote only outsourcing companies so exciting right now?

Every outsourcing wave in history has been accompanied by an acute crisis along with an outsized opportunity. In the first wave, it was the bogey of Y2K that terrified companies into thinking the world would stop dead in its tracks when computer clocks, engineered with only the twentieth century in mind, entered the 21st century. 

Then came the global financial crisis in 2008 and glimmers of a new dawn began to appear on the horizon. This new dawn shined a light on the urgency of the incoming digital age and the need to rapidly buy into it by ditching the old labour arbitrage business for a world that necessitated more complex digital solutions using the cloud, AI, machine learning, and big data. 

These technologies became the new gospel. And yet, despite that evangelism, most IT services companies failed to embrace the digital with an urgency that was crucially needed. 

Now the new paradigm is “remote only” outsourcing, allowing staff to play to their strengths (working from home obviating the need to commute to work) and allowing companies like BruntWork to operate at substantially higher margins. 

And who will win the race?

Most companies have stated that the working-from-anywhere model will be largely here to stay and may even inspire additional new ways of doing business. But few have approached the question of outsourcing like BruntWork, whose “remote-only” approach seems to set it apart from its competitors allowing faster growth, lower operating costs and higher net margin percentage. 

 

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