ERP Term
"Outsourcing "

Use of other third-party organizations to perform tasks in place of an internal resource.

There are many reasons why companies outsource. It can be to save money, improve quality, or access specialized expertise. Sometimes companies outsource because they want to focus on their core business.

Outsourcing can take many forms. It can involve turning over all or part of a business process to another company. It can also include hiring individuals from another company to work on a specific project.

When done correctly, outsourcing can be a win-win for both the company and the service provider. The company gets access to the expertise it needs at a lower cost, and the service provider gets new business. But when done wrong, outsourcing can lead to frustration and problems for both parties. 

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