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 includes:
*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.