Definitions, applications, costs, risks, impact. 6 charts.
“Outsourcing” (the hiring of outside experts or companies to fulfill part of the business model) is a modern business methodology that addresses the needs of organizations, merchants, and consumers to cut costs while improving convenience, the quality of goods and services and increasing the speed of service delivery. Outsourcing is defined by the CCTA (Central Computer and Technology Agency) as: the management and operation of part or all of an organizations IT services by an external source, at agreed service levels to an agreed cost formula over an agreed period? (Halvey & Melby 48).”