In 2017, the global outsourcing market reached 88.9 billion U.S. dollars, according to Statistia – that’s 12 billion more than the previous year. U.S. companies are outsourcing more work every year, and it’s easy to see why. Transferring responsibilities to an outside source can lower capital expenses and overhead, free employees’ time to work on other tasks, increase efficiency for time-consuming functions and improve quality for specialized work. But how do companies manage teams that are hundreds or even thousands of miles away, to ensure the best quality of work, and the greatest return on investment? Outsourcing governance, or the process of managing outsourcing engagements has become a hot-button issue. In order to manage risks effectively and get the most value, a strong outsourcing governance strategy is critical. Unfortunately, many companies lack such a strategy-which may be why so many outsourcing arrangements fail.

Contributors: Sapience Analytics
Categories: 2019 Fall - Carlsbad, Summit Presentations
SRC Type: Governance, Outsourcing, Sourcing Management