Advantages of Sourcing in Eastern Europe

In present times, business solutions are far more complicated and require the experience of domain experts and skilled professionals. Hiring in-house might seem easier but can turn out to be very expensive. Thus, Eastern Europe sourcing has become increasingly popular amongst companies that put quality before quantity. Following are the advantages of partnering with vendors in Eastern Europe that organizations can explore:

Skilled Talent Pool

Companies can benefit from the trained talent pool of Eastern European countries. The university system in CEE (Central and Eastern Europe) specializes in engineering and science disciplines. The result being an ever-expanding labor force that is highly skilled in multiple areas including IT and software development. This is quite a welcome change from the shortage of affordable talent pool in the U.S. and Western Europe.

Growing Labor Market

An expanding labor market is the legacy of years of first-rate education opportunities in CEE. Besides, these low-cost economies entail minimal labor costs while skilled workers are abundantly available. When you search for Eastern Europe sourcing partners, consider the advantages of the easy availability of workers and the size of the labor pool that will substantially bring down hiring cost.

English Proficiency

A lot can be lost in translation when it comes to offshore sourcing partners. However, you need not worry as English is a widely spoken tongue in CEE. Hence, you can expect to foster effective and valuable vendor relationships through a common language. However, English is less standard in Ukraine, Russia and some Balkan countries. While evaluating a potential partner, you can find a correlation between low prices and language barriers. Therefore, you should look for a collaboration that enables smooth workflow and fewer delays owing to misunderstandings.

Cultural Similarities

Associations with Eastern Europe procurement suppliers enjoy a cultural overlap. These nations share a history similar to the West, one marked by a series of technological breakthroughs. Cultural affinity, a shared language, and communication through direct channels help to reach an understanding and produce results. This shared connection enables to streamline the workflow, improve vendor relations and management, and reduces unnecessary expenses.

Access to Innovation

The huge potential for innovation is an all-important reason to consider sourcing in Eastern Europe. An emerging global hub for talent, Eastern Europe nations are the go-to for business owners seeking a competitive edge in terms of cost. Overall, the region is home to several research and development centers of large multinational companies.

Apart from the above-mentioned points, the advantage of proximity that Eastern Europe procurement offers must be considered. For instance, Russia is only two hours ahead of London and just one hour ahead of Germany. The cheap conveyance options and ease of travel between countries provide a quality outcome. Furthermore, sharing a workday makes for fewer late-night meetings and eases the workflow. Whereas, Asian countries are in timezones that are more than a full day ahead, which might hamper productivity. If you want to build a valuable relationship with a vendor while maintaining quality standards, consider Eastern Europe for a profitable sourcing venture.