Ever wondered how many man hours you waste thinking about things that are time consuming and not even profitable to your company or the things that you can do and the targets you can achieve if you concentrate on your core competencies? But, how is it possible to neglect problems like logistics, customer service, balance sheets etc. Yes there is an answer- Outsourcing.

Outsourcing is sub-contracting, a not so important task to a third party. The main motive behind outsourcing is to save time, money and concentrating on important tasks. Another name given to outsourcing is off shoring where work is outsourced to another country.

The questions that come in mind is where to outsource, whom to outsource, will it be profitable, what are the risks involved etc. Thousands of companies and individuals are operating in the world which undertakes outsourced work. Either they are working on contract or are free lancers. Low cost of labour, unemployment has resulted in large amount of these companies in developing nations. Many individuals who want to work from home are undertaking the outsourced work and work as copywriters, programmers, telemarketers, web designers etc. Various websites on internet are a platform for these people who want to earn extra money or work part time being at home. The number of these people, companies and freelance websites is growing day by day with the increasing popularity of internet.

Advantages are that it is cost efficient and time saving. Also, any kind of work can be assigned either online or offline. Contract is not there so company can shift from one free lancer to other easily. Plus point for freelancers is that they don’t have any pressure to work for just one organization and it is up to them whether they want to work for someone or not. If they get recognized for their work they can get more reputed projects at their will.

Call this a positive or a negative trend but it is rapidly gaining a lot of importance and is also helping a lot of people who are unemployed and companies who want to get their work done at a fast rate and at a lower cost.