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Outsourcing occurs when companies have an external company handle some portion of their business that was once handled in house. The outsourcing of services does result in a loss of direct control over the function that is being outsourced, but this is outweighed by a substantial cost saving to the company. Savings of 15% to 40% can be realized per outsourced service thus allowing the company to be more efficient. By outsourcing these complex services companies can concentrate on operational and wealth building functions.
Talx's direct competitors are Automated Data Processing INC (ADP), Ceridian Corporation, and Paychex...
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