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outsource
(redirected from outsourcing)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
outsource
verb To assign specific work to a 3rd party for a specific length of time at an set price and service level Managed care To use outside labor to perform functions–billing and collections, accounting, janitorial services, ER coverage and others–which could be performed at a higher price and/or less efficiently by in-house personnel. See Manager.


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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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