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Globalization Offers Opportunities to Successfully Manage Economic Uncertainty

The systematic implementation of globalization initiatives can help companies manage today's economic uncertainty and lay the foundation for the next generation of opportunities in services globalization, according to a new report by neoIT, a premier corporate globalization advisory firm.

"Companies that move aggressively to reassess their globalization initiatives, re-balance their portfolios, and ensure that these initiatives are well-aligned with business objectives will manage the current economic slowdown in the U.S. more effectively," said neoIT CEO Eugene Kublanov. "Organizations that don't take advantage of this opportunity or delay will face mounting financial and operational pressures in the next few years."

The report, Navigating Economic Uncertainty: Leveraging the Services Globalization Advantage, noted that in the U.S. economic slowdown of 2001 to 2003, most globalization agreements were for staff augmentation that allowed companies to quickly scale up or down.  Since then, most global services contracts have shifted to managed services projects designed to deliver specific results or service levels.

The report emphasized the importance of executing services globalization more strategically and in a less piecemeal fashion than in years past.  The immediate benefits of successfully implementing an enterprise-wide approach are lower costs and increased efficiency, both of which can mitigate the impact of the current economic downturn.

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