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Outsourcing

Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another.

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DEFINITIONS
  • verbTo transfer the management and/or day-to-day execution of a business function to a third-party service provider.
  • nounThe transfer of a business function to an external service provider.
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