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Outsourcing

Outsourcing in simple terms is an activity wherein companies enter into a contract or an agreement with an external vendor for certain services. For example, companies generally outsource their security services, legal services, concierge services etc to external companies. Companies big and small, enter into contracts with vendors either within or outside their own country to get a cost, technological or logistical advantage. With the world becoming a global platform for business, processes can be outsourced seamlessly to ensure companies are able to offer better products and services to their customers. Outsourcing functions to other countries ensures that customers receive 24*7 access to services.

There are a wide variety of outsourcing services that are available to companies. Some of them are HR outsourcing, legal process outsourcing, IT outsourcing, Knowledge process outsourcing, outsourcing of the supply chain, financial services outsourcing etc.