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Western Cape, South Africa: The Western Cape CEO of South Africa's Department of Trade and Industry has come out to indirectly tell all the other outsourcing destinations that South Africa has become an eminent competitor for them and is rapidly becoming the favorable destination for outsourcing.

Due to the challenges that the business community is now facing and the change that the world has seen since the global economic crises of 2007, risk management is now becoming a prominent entity in all industries. Back in the day, it was a back office service but has now turned into a mainstream entity. The strategy, if formulated, beings about amazing ways overcome the crises and problems. Even turning the strategy up into a mainstream entity from a back office service is not easy enough but this can be done with ease. Earlier, or until the economic downfall seen in 2007, risk management was considered to be nothing more than a necessity of fulfillment and the main track on which a business would rather be run.

Some of the most prominent organizations in the information technology-business process outsourcing (IT-BPO) sector are expecting a 20% growth in the revenues generated by this industry this year in 2012. The growth will not only add billions of dollars to the profits but also generate employment considerably.