What Is An Offshoring Solution?
An offshoring solution , simply put, is the relocation of a company's business process to another country with more favorable conditions to reduce operation costs. Business functions sent offshore vary from simple IT solutions to increasingly more complex knowledge-based business processes, including product development. Offshoring is often confused with outsourcing. The two strategies are similar in that businesses use services from a foreign location to optimize their processes. However, the two do have a stark difference. While offshoring is when a company moves its process to another country, outsourcing is when a company contracts a service provider to handle particular tasks and functions for its business. In offshoring, a company retains its control over the process. However, in an outsourcing agreement, process methods and quality control are primarily left in the hands of the provider. Consider These Benefits So, what benefits does a firm stand to earn if it decides