Outsource
Outsourcing is the process of contracting with a third-party provider to handle some or all of your company’s business processes. It’s a common practice in business, and there are many different ways to outsource.
Outsourcing can be used to save money on labor costs, speed up production, or tap into specialized expertise. When done correctly, it can be a win-win for both the company and the contractor. However, there are also risks associated with outsourcing, so it’s important to do your homework before entering into any agreement.
The term ‘outsource’ is often used interchangeably with ‘offshore,’ but they are not the same thing. Offshore outsourcing refers to contracting with a provider in another country, while domestic outsourcing contracts with a provider within your own country.