Business Outsourcing

Definition: Business Outsourcing is the strategic business approach that involves contracting out the operations and responsibilities of business functions (or processes) to a third-party service provider.
Business process outsourcing can be categorized into back office outsourcing (which includes internal business functions such as human resources, accounting or facility management), and front office outsourcing (which includes customer-related services such as contact center services).
A situation of partial O is called co-sourcing.

More on business outsourcing. More on outsourcing: Co-sourcing, Insourcing, Service Level Agreement, Shared Services Center.