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Outsourcing

Glossary

What is Outsourcing

Outsourcing is the practice of using external suppliers to perform certain business processes or functions that were previously performed internally within the company.

The benefits of outsourcing include reduced costs, access to highly skilled personnel, increased efficiency, and flexibility. However, there are risks, such as loss of control, data security issues, and distance management challenges, that should also be considered when making an outsourcing decision.

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