Outsourcing is a powerful business strategy -- so why is it frowned upon?

Outsourcing is the practice of contracting out certain business functions -- most commonly, customer support and software development. When implemented effectively, it is a powerful business strategy that can help companies to reduce costs and increase efficiency. And as the proliferation of business technology continues to break down the geographical barriers to working with international partners, outsourcing has only become more widespread. According to Statista, the global outsourcing market was worth $92.5 billion in 2019: a rise of over $15 billion when compared to 2016. Today, most businesses in the UK outsource one or more services to an external partner;… [Continue Reading]