DALLAS and WALTHAM, Mass., Dec. 6, 2011 /PRNewswire/ -- Everest Group and Lionbridge Technologies, Inc. (Nasdaq: LIOX) today announced the results of a study, "Every Crowd Has a Silver Lining." The study, which was conducted by Everest Group in collaboration with Lionbridge, revealed that enterprise crowdsourcing is moving up the value chain for an increasing number of organizations due to significant cost advantages, greater flexibility and faster access to a larger pool of globally distributed qualified resources compared to traditional business process outsourcing (BPO) and contingent labor models.
Specific findings of the study can be found here and include:
- Large corporations are adopting crowdsourcing as a model to support new areas such as content localization, translation to replace traditional BPO and contingent labor staffing models
- Crowdsourcing offers significant economic advantages – up to 70 percent savings – compared to a similar outsourced model in both onshore and offshore service geographies
- Given the "on-demand" nature of crowdsourcing and the ability to access qualified, globally distributed talent more quickly, employers enjoy compelling wage cost advantages, higher utilization and lower total costs of recruitment, training, supervision and turnover.
- Mature enterprise crowdsourcing benefits from a third-party intermediary that provides governance, quality assurance and contractor management infrastructure
The study also cited companies that are leveraging crowdsourcing for as much as 50 percent of their product-related projects, such as packaging, design, marketing, research, testing, engineering and technology.
"We are witnessing a second fundamental inflection point for crowdsourcing where large corporations in a post-recession era are increasingly using global professional crowdsourcing services in new application areas, often as a cost-effective alternative to traditional BPO," said Sarthak Brahma, Practice Director, Pricing Assurance, Everest Group. "Our study finds that crowdsourcing utilization has evolved from small- to medium-sized businesses to an increasingly accepted business practice for large corporations. As cost advantages are progressively augmented by greater accountability, quality assurance and timeliness assurances, the 'on-demand' talent model will continue to gain a greater foothold."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV