Outsourcing terminology for outsourcing

1, application service provider (application service provider, ASP)

ASP is the provision of computer network applications network of enterprises, such as e-mail services, payroll process management, ERP applications.

2, business process outsourcing (BPO)

BPO refers to the outsourcing of front-office functions as well as back-office services, in particular the outsourcing of white-collar, clerical jobs, such as accounting, human resources, and medical coding and transcription.

3. Competitive insourcing

Competitive insourcing refers to the process by which employees within a company compete with highly competitive third-party forces to bid on a specific business. See insourcing

4, contract manufacturing

Contract manufacturing refers to the outsourcing of a production job to a third party inside or outside the country, with the delegate owning the equipment, facilities and production technology to accept the contract.

5. Co-sourcing

Co-sourcing is the process whereby a company's business functions are carried out by internal employees and external forces with specialized knowledge, such as consulting firms.

6. Facilities management

Facilities management is a specific outsourcing solution where a customer chooses an outsourcing provider to take responsibility for the operation and maintenance of one or more of its facilities.

7. Insourcing

Insourcing is a variation of outsourcing, where the outsourced function is given to another internal department of the organization to perform. In other words, it means taking on work from another department by improving operations in one area. In the U.S., the term is also used to refer to U.S.-invested foreign companies that hire U.S.-based employees.

8, nearshoring (nearshoring)

Nearshoring is the outsourcing of business to companies in the country, characterized by short distances, ease of contact, and in the same or similar time zones.

9. Offshoring

Offshore outsourcing is the outsourcing of business to companies outside the country, and the outsourcing of business to companies in near-neighboring countries, which is sometimes regarded as nearshore outsourcing (see previous article).

10, service level agreement (service level agreement SLA)

SLA is a document attached to an outsourcing outsourcing contract (or a separate contract), which specifies the type of outsourced services, their value, and the conditions under which they will be provided. Generally, SLAs are provisions for quality, such as reflecting time, effectiveness, speed, and so on.

11, ***shared services (shared services)

***shared services refers to the business functions needed by other departments of the enterprise **** package to an internal department or team with special skills. For example, the purchasing department of a manufacturing company may provide purchasing services for all of the company's production units, and ****shared services can also be outsourced to a third-party service company.