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Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. [ 1 ]
Offshoring as a service (OaaS) is a business model in which the offshore office is not owned by the entity itself, instead it is outsourced to a vendor. The concept of offshoring is not new; however, in the past, some companies have tried to open their own offshore offices.
The term "offshore company" or "offshore corporation" is used in at least two distinct and different ways. An offshore company may be a reference to: An offshore company may be a reference to: a company, group or sometimes a division thereof, which engages in offshoring business processes .
If the offshore workplace is a foreign subsidiary, owned by the company, then the offshore operation is a § captive, [215] sometimes referred to as in-house offshore. [216] Offshore outsourcing – combines outsourcing and offshoring; is the practice of hiring an external organization that is in another country to perform a business function ...
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
The Offshoring Research Network is an international network of researchers and practitioners studying organizations in their transition to globalizing their business functions, processes and administrative services.
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Outsourcing gained prominence as a business strategy in the early to mid-1980s, and was originally driven by the desire to reduce costs in labor-intensive business processes. [ citation needed ] Outsourcing relationship management appeared as a specific management discipline in 1999 after an industry consortium, the Sourcing Interests Group ...