Outsourcing consists of three parties – buyer, bidder and the media. In the United States, this term became popular. Foreign and domestic contracting are included in it. It has been popular for financial savings and international labor rates.In outsourcing job, a bidder has to be competitive, honest, punctual and hardworking. He has also to find a good buyer. A buyer has to be honest and friendly. The media that works between them to help them find each other must be reliable.Outsourcing reduces operating and capital expenses. It lets an individual or a company to reduce the need to hire and train specialized staff. Instead, it brings in fresh expertise. The buyer only pays for the service. It helps the companies to avoid high-energy costs, high taxes, regulations and so on. Therefore, the developing countries play a vital role in outsourcing. However, it has some risks also. It can increase the risk of reduce confidentiality leakage security concerns as well as introduce additional privacy.
It is not maintained physically. Rather it is maintained by chatting, time tracking software or other software.
Security
This is a question. The buyers and the bidders may fall victim to fraud. There may be credit card theft. The dodders may not get the money.
The Qualification
A bidder can appear a skill test by taking help of other people though he may be a looser after he is believed fraud. However, it will be a waste of time for the buyers. Therefore, usually the buyers require a test of the bidders.
Migration
Outsourcing has made the migration relatively low as the workers can do overseas work from home and earn foreign currencies. They now tend to stay at their own country and work for the foreign countries using their computers and high speed internet service.
Some Disadvantages of Outsourcing
It is killing good American jobs. As the companies prefer to cut off labor costs they look for freelancers who will do their work. However, if most of the companies do their works in the same way they may lose many skilled workers in their countries in future. The skilled workers of their country may lose interest in doing skillful works. Therefore, they must evaluate them and apply them for their own development.
Quality Product