Outsourcing refers to the practice of delegating specific business tasks or functions to external consultants instead of handling them in-house. Many companies around the world are adopting a practice of outsourcing different departments of the company. Outsourcing not only allows the company to avail expertise and high-end services but certain tasks like outsourcing back-office work could allow the management to focus on critical business tasks, giving it edge over its competitors.

The benefits of outsourcing to a company can include:

  • Cost savings – lower employee cost including salaries and other benefits.
  • Access to specialized expertise.
  • Increased productivity and efficiency as the company can focus more on its core competences.
  • Better risk management and compliance.
  • Exposure to best industry practices.
  • A learning experience for in-house employees.
  • Knowledge module for company

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