Outsourcing is in: Here’s how to do it right
Photo by Kieran Lynam
No matter what you think about outsourcing, you can't argue that it's here to stay.
According to the International Association of Outsourcing Professionals, about $6 trillion in outsourced business is done worldwide each year. "And it’s not just an option for Fortune 500 companies," writes Rick Telberg. "It’s been estimated that outsourcing by small businesses in the United States will become a $25 billion market by 2009."
Not outsourcing yet? Sit tight, says Telberg -- you soon will be. He offers tips on how to do outsourcing right. The secrets are to (a) determine where outsourcing fits with your strategy, (b) evaluate what can be outsourced, and (c) closely monitor your outsourced activities.
Still, many businesses are concerned about legal and ethical issues surrounding outsourcing. This Journal of Accountancy article addresses many of those issues.
And while we're at it, here are some more outsourcing-related resources that might be helpful:
- Outsourcing and privacy: 10 critical questions top management should ask
- PEEC's recommended language for required outsourcing disclosure
Are you outsourcing yet? What are your thoughts?