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Offshore outsourcing – combines outsourcing and offshoring; is the practice of hiring an external organization that is in another country to perform a business function. [ 142 ] In-housing – hiring employees [ 217 ] [ 218 ] or using existing employees/resources to undo an outsourcing.
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 number of jobs lost to offshoring is less than 1 percent of the total US labor market. [49] The total number of jobs lost to offshoring, both manufacturing and technical represent only 4 percent of the total jobs lost in the US. Major reasons for cutting jobs are from contract completion and downsizing. [50]
Risk is the major drawback with business process outsourcing. Outsourcing of an information system, for example, can cause security risks both from a communication and from a privacy perspective. For example, security of North American or European company data is more difficult to maintain when accessed or controlled in other countries.
Global Outsourcing and Offshoring: An Integrated Approach to Theory and Corporate Strategy. Cambridge University Press. ISBN 978-0-521-19353-5. Kaul, Vijay Kumar (2011). Business Organization and Management: Text and Cases. Pearson India. ISBN 9788131754498. Mehrotra, Nitin (2005). Business Process Outsourcing — The Indian Experience. ICFAI ...
QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.