|
Outsourcing
occurs
when a
company
assigns
an
outside
firm to
provide
a
necessary,
but
non-core
business
function
which
otherwise
would
have to
be done
in-house.
It is
different
than
subcontracting
because
the
function
is
provided
on an
ongoing
basis,
rather
than for
a
specific
project.
The
outside
firm
possesses
expertise
in the
outsourced
business
function
and is
generally
better,
faster
and
cheaper
than an
in-house
department.
Outsourcing
relieves
a
company
of
routine
tasks,
enabling
it to
focus on
its core
strengths,
and
thus
achieve
a
competitive
edge by
better
utilizing
its
resources.
Most
outsourcing
firms
also
have a
consulting
component
to help
clients
plan the
long-term
relationship. |
