The difficult economy is pushing businesses to leverage new Internet capabilities and the millions of people who use them to develop, improve, and finance their products and operations.
Crowdsourcing is a growing trend in the private sector. Akin to outsourcing, where specialized labor forces and lower costs help businesses, crowdsourcing is the act of tapping the intelligence of the digital crowd to give companies faster, cheaper and more creative ways to improve their products and operations.
While crowdsourcing has been an attractive tactic for small businesses and start-ups, the Everest Group study reveals it is becoming increasingly important for large businesses as well.
"Our study finds that crowdsourcing utilization has evolved from small- to medium-sized businesses to an increasingly accepted business practice for large corporations,” says Sarthak Brahma, the practice director for pricing assurance at Everest Group. “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."
Founded in 2010, the industry website, Crowdsourcing.org, is a neutral organization dedicated solely
to crowdsourcing and crowdfunding. As one of the most influential and credible authorities in the crowdsourcing space,
Crowdsourcing.org is recognized worldwide for its intellectual capital, crowdsourcing and crowdfunding
practice expertise and unbiased thought leadership.