Managing Risk and Security in Outsourcing IT Services

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Outsourcing

A precise definition of outsourcing has yet to be agreed upon. Thus, the term is used inconsistently across the industry. However, outsourcing is often viewed as involving the contracting out of a business function—commonly one previously performed in-house—to an external provider. In this sense, two organizations may enter into a contractual agreement involving an exchange of services and payments and it is called outsourcing.

History of Outsourcing

Nowadays there is a large number of outsourcing companies, ranging from small, employing a handful of people, to huge, employing sometimes more than 200,000 people. Whoever does business with a small outsourcing company has it easier in determining what they are dealing with than ...