Outsourcing

Third party management providing the best people, process and technology for the execution of non-core business functions. A contractual relationship where an external organization takes responsibility for performing all or part of an agency's functions. This can involve a partial or complete transfer of staff and/or resources. Outsourcing is the act of transferring some of a company recurring internal activities and decision rights to outside providers, as set forth in a contract. Outsourcing is not just a way to reduce costs; it is an essential element for achieving business excellence.