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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.

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The director of Microsoft Ukraine believes the nation will play a big role in software development. During his interview with the Kyiv Post, Franke said that Ukraine has the potential to become a second India in software development outsourcing.

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Esquire magazine’s A.J. Jacobs once hired an assistant, Asha, from an Indian outsourcing firm called Your Man in India to do some online shopping and other mundane tasks.

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Application Service Provider (ASP); Business Process Outsourcing (BPO); Competitive Insourcing; Contract Manufacturing; Co-Sourcing or Cosourcing; Facilities Management; Insourcing; Nearshoring; Offshoring; Service Level Agreement (or SLA); Shared Services.

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Choosing a company to outsource to is very different from choosing an ordinary supplier. You’re embarking on a long-term relationship, so take your time.

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Paying taxes is an essential part of every business and something that small businesses worry about when it is time to file their tax return. At end of every quarter or year small businesses collect all their financial and business transactions records to send it to their CPA to prepare the tax returns.

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Depending on the project, outsourcing can sometimes be a very cost-effective business decision. Sure, we can all accomplish some of it in-house, but can we do it all, and do it well?

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While reading outsourcing horror stories may be somewhat entertaining, especially if it hasn’t happened to you, it’s even better to learn from the mistakes of others. That’s why InfoWorld talked to industry experts to summarize their best advice, based on their own experience and their clients’ experiences.

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Outsourcing horror stories, from corrupt general managers “with all sorts of conflicts of interest” (such as service providers getting kickbacks from landlords on the leased space) to projects torn apart by huge turnover rates.”

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Outsourcing is an established way of doing business today, allowing companies to maximize their budgets and resources — and generate better products.

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