How Can Outsourcing Be Defined?

Outsourcing refers to a company that contracts another company to transfer one or more processes that it would otherwise perform itself in order to realise a tangible benefit. In successful outsourcing arrangements both parties recognise that they can benefit from this cooperation.

Outsourcing allows a company to focus on its core business while having the supporting company’s functions taken care of by outside experts. This means that a large amount of the management time and resource which is used to manage the processes and attend to detail can be used for more important, broader and strategic issues within the company. The specialised company that handles the outsourced work is streamlined and has world-class capabilities and access to new technology that a company couldn’t afford to buy on their own.

In practice, outsourcing is a normal part of business life and most companies outsource some of their processes to other organisation with specialist skills and experience. As the markets mature, more and more functions are decided to be outsourced. Organisations are increasingly reviewing functions that can be performed more efficiently and therefore cost effectively by other providers specialising in that particular activity.

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