Finance Interview Question:

What is Outsource?

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Outsourcing is a strategic management model wherein business processes are transferred to another company. The concept is to let a third party service provider perform the management and/or day-to-day execution of one or more business functions. This third party service provider is in sourcing those same processes. Outsourcing occurs when a company uses an outside firm to provide a necessary business function that might otherwise be done in-house.
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