Outsourcing

The term "outsourcing" became popular in the United States near the turn of the 21st century.

In business, outsourcing is the contracting out of a business process to a third-party. Outsourcing includes both foreign and domestic contracting.

help firms to perform well in their core competencies and mitigate shortage of skill or expertise in the areas where they want to outsource.

Out - sourcing

Hiring “cost

effective” specialist

to complete specific

task that you don’t have the time or skill to

complete

Get rid of the small things

and focus on the

big things

Another Job?

Manage a

success busines

s?

Advantages

• You can take back control of your time and work on things you are good at and enjoy

• Allows your business to grow at a much faster pace

• Stops you from being the biggest problem in your business

You

YouYou You

YouYou You

You should spend more time working on your business not in your business

Need

Faster innovation

Increase speedy

market

Conserve capital

Reduce cost

Improve quality

FOCUS ON CORE

• Possible loss of capital

• Confidentiality and security

• Selection of suppliers

• Too dependent on service provider

• Loss of staff moral problems

• Time consuming

• Provider may not understand the business environment

• Provider may be slow to react to changers in strategy.

Problems

System integration

Data network

Maintenance center

Repair

Application development

E – commerce

End user support system

What all can be outsourced.

BPO

Information technology

Human resource

Sales and marketing

Finance

Administration

Changing trend of outsourcing.

The Best Time To Start Outsourcing?

Clear objectives

Results known

MONEY