Outsourcing is where one company engages another company to provide services that were traditionally performed in-house. Deloitte’s Global Outsourcing Survey 2020 finds that cost reduction is the primary objective of outsourcing for 70% of businesses, while 40% say they choose to outsource because it gives them more flexibility.
The reasons why companies outsource business functions to a third party aren’t difficult to understand, but with so many different acronyms and terms to get your head around, it’s not always easy to work out the exact type of outsourcing model that’s right for your business. At least not without an outsourcing dictionary on hand to help you.
With our years of experience as a trusted outsourcing provider in a fast-growing industry, we’ve created a useful outsourcing glossary of common terminologies, as well as some pros and cons of the different types of outsourcing and operating models available to your business.
The outsourcing industry is expanding around the world and it’s no surprise that each country has its own unique value proposition. Every location has its differences when it comes to qualities like the specialty and experience of staff, cost-effectiveness, language proficiency or cultural awareness. With so much choice, now is a great time to learn more about some of the world’s most popular outsourcing locations and what makes them different.
With better knowledge of the different types of outsourcing and location models, this blog will explore the benefits of outsourcing in more detail.
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