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outsourcing

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.
outsourcing
(1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management.

(2) Contracting with organizations outside your country for work that could otherwise be done by employees within your company. Contrast with insourcing.
(business)outsourcing - Paying another company to provide services which a company might otherwise have employed its own staff to perform, e.g. software development.


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If we were to give it a dictionary definition, outsourcing would be the process of an organization or individual transferring the ownership of a business process to a supplier (which in turn can be an organization or individual).
The term outsourcing has been heavily used over the past few years, but oftentimes the meaning of this process wrongfully understood.
Revenues from the Malaysian IT/ITeS outsourcing industry are expected to touch $1.
 
 
 
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