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Definition of Outsourcing


Outsourcing refers to the practice of obtaining services from another company for work that could have been accomplished within that company itself. Rather than have the work completed in-house, the company utilizes another company to do the work for them. In some cases, time constraints, an overload of work, or the opportunity to have the work accomplished for a lower cost is the motivation for outsourcing. For example, utilizing a third party’s resources for IT management can be less expensive if the company has not yet developed an in-house IT management team. Another example is the outsourcing of data storage needs when the company does not want to store and manage an in-house data storage system. Onshore outsourcing refers to the practice of obtaining services from outside the company but from inside the same country. Offshore outsourcing refers to the practice of obtaining services from a company or someone outside of the company as well as outside of the country.

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