Research carried out by the sourcing data and advisory firm TPI today indicated the number of outsourcing contracts awarded globally is set to rise in 2010, as organisations look for new ways to optimise critical business operations after the recession.

According to TPI’s predictions, the growing acceptance of cloud computing, an increasing interest in multi-sourcing, and the emerging focus on governance and risk management will fuel the rise of outsourcing contracts in 2010.

The report, entitled TPI Momentum Market Trends & Insights 4Q09 Annual Report, also found 422 outsourcing contracts valued at $15 billion are expected to expire in 2010, a 40 per cent increase over the total contract value of last year's and the highest level in five years.

However the research also found that only slightly more than one-third of outsourcing proposals directly met buyers' objectives in 2009, down from nearly half the year before.

John Keppel, partner and managing director at TPI Research commented on the findings: "The question on many outsourcing professionals' minds entering 2010 was whether the fourth quarter of last year was the typical end-of-year bounce or the beginning of a recovery in the industry, we believe it was both. With the outlook of the global economy still uncertain, clients are clearly turning toward smaller, lower-risk transactions that focus on short-term cost savings."