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Expert Analysis

4 Steps To A Successful Outsourcing Contract

By James Meadows and Heather Clauson Haughian (September 20, 2017, 11:03 AM EDT) -- From the beginning of the 21st century, there has been a significant uptick in the practice of hiring third-party vendors to handle a company's noncore functions. This "outsourcing" may include engaging external companies or consultants to manage personnel, payroll, customer service, technology, or even manufacturing. While no precise statistics exist, it is estimated that nearly half of all Fortune 500 companies outsource software development, for example, and, as of 2015, nearly one in three North American companies outsourced payroll....

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