In business, outsourcing involves the contracting out of a business process to another party (compare business process outsourcing). The concept "outsourcing" came from American Glossary 'outside resourcing' and it dates back to at least 1981.
Outsourcing sometimes involves transferring employees and assets from one firm to another, but not always.
Outsourcing is also the practice of handing over control of public services to for-profit corporations.
Outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring (relocating a business function to another country). Financial savings from lower international labor rates can provide a major motivation for outsourcing or offshoring.
The opposite of outsourcing, insourcing, entails bringing processes handled by third-party firms in-house, and is sometimes accomplished via vertical integration. However, a business can provide a contract service to another business without necessarily insourcing that business process.
Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments of its supply chain.
BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighbouring (or nearby) country is called nearshore outsourcing.
... (CWC) experts to draft a reconstruction blueprint for the damaged wall.Initially, the State Government had considered setting up the lab independently but opted to outsource the task to reduce costs.
The lawmaker pointed out this latest policy by the Trump administration may have a negative impact on overseas Filipino workers (OFWs) and the business process outsourcing (BPO) sector amid global economic uncertainties.
) Strategic insights for CIOs, COOs, and CFOs navigating operational complexity in Asia's financial hubs Outsourcing middle and back-office operations has become a ...
Ministry for RailwaysMuhammad Hanif Abbasi has announced that railway hospitals and 14 schools across the country will be outsourced due to their deteriorating conditions.
The OA500 and Global Outsourcing Firm (BPO) Index serves as an objective analysis of the global business process outsourcing (BPO) industry, evaluating top-performing firms worldwide.
The global outsourced testing services market is experiencing remarkable growth, with revenue expected to reach USD 92.0 billion by 2035, up from USD 44.8 billion projected in 2025 ...The ShiftToward Specialized Outsourcing.