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In a World where IT has become the backbone of businesses worldwide,outsorcing is the process through which one company hands over part of its work to another company, making it responsible for the design and implementation of the business process under strict guidelines regarding requirements and specifications from the outsourcing company.
DEFINITION
Business Process outsourcing is the act of giving a third-party the responsibility of running what would otherwise be an internal system or service. For instance, an insurance company might outsource their claims processing system or a bank might outsource their loan processing system...
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