European nearshore locations are viewed as a complementary and alternative sourcing option to onshore and offshore locations. It offers a language and culture fit, and in some cases enjoys certain international trade agreements with the client's residing countries. Malta is an ideal nearshore location because it offers significant reduced development and implementation risks and lower hidden costs.
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Enterprises are seeking new ways to boost their competitive edge. Outsourcing in Malta has proven to be a strategic advantage because of its stability, knowledge capital, and proximity to a number of markets--which is attested by the fact it has one of the highest exports per capita in the world.
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Enterprises, largely based in the US, UK, Japan, and Austraila, are turning to offshoring as a way to minimize costs. The biggest offshoring region is currently India; however, the logistics and costs of outsourcing to this region has caused enterprises to look to other areas, such as Malta. Malta is a promising nearshore IT outsourcing location because of its geography, investment in IT, and capability.
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When considering to outsource processes, enterprises must determine risk well beyond operational issues. Security, political, economic, tax, and legal risk all must be factors. Malta is an emerging offshore location not only because of its growing skill set, but because it is extermely stable in all these areas.
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Companies looking for savings but worried about the risks and cultural barriers involved in offshore outsourcing, whose business processes have a strong customer focus or regulations-driven reporting element, could benefit from nearshoring. Nearshoring involves outsourcing work to companies with the economic benefits of an offshore location, but a closer cultural, linguistic, and geographic fit with the user organisation.
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Malta is developing as a nearshoring location. Malta's advantages include an educated workforce that is fluent in English, lower wages than Western Europe, and a central geographic postion. In addition, Malta is a member of the European Union, and the Maltese government offers both tax and non-fiscal incentives to promote investment.
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Companies looking for savings but worried about the risks and cultural barriers involved in offshore outsourcing, whose business processes have a strong customer focus or regulations-driven reporting element, could benefit from nearshoring. Nearshoring involves outsourcing work to companies with the economic benefits of an offshore location, but a closer cultural, linguistic, and geographic fit with the user organisation.
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Safeway, the UK's fourth-largest supermarket, spends over £100 million (GBP) a year on their information technology (IT )operations. Five years ago, Safeway transferred its offshoring operations to Malta-based Crimsonwing. Since then, Crimsonwing has undertaken some 200 projects for Safeway, including a sales data warehouse, an intranet portal, and an integrated transport solution designed in conjunction with IBM.
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