What is Outsourcing?
‘Outsourcing’ is the process of hiring a third party to perform any insignificant tasks of a company in order to free the in-house staff members and allocate them for other important tasks.
The most significant benefit of outsourcing is that the company can focus on their core business areas while the rest of the processes can be handled by the third party who has been tasked with undertaking the process.
Outsourcing also helps in reducing the labor costs involved in performing these insignificant tasks while also creating a form of abstraction so that the company need not understand how the work is done. They need to be concerned only with the deadlines and the service level achieved.