Amit Singh (EMBA ’03) was one of the first entrepreneurs to harness the power of global workforces through outsourcing. In 2004 he launched Spectraforce, a software solutions outsourcing company headquartered in Raleigh. The company leverages the mature IT talent in India by connecting Western companies with the well-trained pool of workers overseas at a fraction of the cost of hiring employees in the United States.
The nature of his business means that Spectraforce was essentially “born global,” says Singh. His business partner relocated to India, where he was immersed in the market and gained a better understanding of the country’s taxes, laws, labor pool and financial implications of decisions, and could find and manage their talent pool.
Once there was a global model in place, Singh scaled the business to expand his client base to Canada, Puerto Rico and the United Kingdom. And as technology has improved, so has Singh’s business. A decade ago, an overseas call cost hundreds of dollars and building sophisticated software meant an investment of millions, but today’s technology, global talent pool and communication tools have allowed him to develop software at a fraction of that cost.
“The cost of innovation has gone so low because of collaboration and the Internet,” says Singh. “Today we live in a very service-oriented, IT driven world. It costs very little to put an application up and sell it globally, and it doesn’t matter where in the world your customer is.”
This article originally appeared in the Spring 2014 issue of UNC Business magazine. View the issue in its entirety here.