Outsourcing

Outsourcing is a term from economics. Sometimes a company decides to change its structure, in such a way, that it no longer performs certain tasks which are not its core business. Instead, the company hires or collaborates with other companies which can then perform these functions.

Any business or company can hand over a part of their process or specific services to be handled by a third party. According to The Deloitte Global Outsourcing Survey 2018,^[1] among the industries that refer to outsourcing are technology and media, financial services, consumer and energy, followed by government and public services and life sciences and healthcare.

Among the industries that generate the most revenue are information technology outsourcing and business processes,^[2] that includes financial outsourcing and consumer. Global outsourcing industry revenue from 2010 to 2018, by service type (in billion U.S. dollars)

1. ↑ The Deloitte Global Outsourcing Survey 2018(Rep.). (n.d.). Retrieved February 5, 2019, from Deloitte Development LLC website: https://www2.deloitte.com/us/en/pages/operations/articles/global-outsourcing-survey.html
2. ↑ Outsourcing: Revenue by service type 2018 | Statistic. (n.d.). Retrieved from https://www.statista.com/statistics/189800/global-outsourcing-industry-revenue-by-service-type/