outsourcing

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outsourcing

(business)
Paying another company to provide services which a company might otherwise have employed its own staff to perform, e.g. software development.

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.
References in periodicals archive ?
AICPA ethics rules say members are responsible for all work outsourced to a third party, and CPAs must inform the client, preferably in writing, before disclosing confidential client information to an outsource provider or independent contractor.
To take advantage of this flexibility, some companies prefer to outsource one area--often a compliance function, such as sales and use tax or property tax.
The median equity capitalization of the outsourcing firms was $7 billion, so the decision to outsource put an additional $400 million in share holders' pockets.
As a result of the review of tax department functions at Mead, a determination was made to outsource the payroll tax function in its entirety to a service provider.
Companies can't just go off in a vacuum and successfully outsource.
One of the principal determinants of a decision to outsource is likely to be the perceived value received for the cost.
As a result, owners may need to make financial decisions to outsource based only on high-level, aggregated pricing.
We also retained outside counsel, since this was our first time to outsource our IT.
Hewitt Survey Finds Companies that Outsource HR are Realizing Benefits
Considering the rapid progress in technology as well as the significant cost and price advantages to be gained, an increasing number of multinational corporations in the electronics industry are beginning to outsource more of their R&D activities.