Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally, Outsourcing sometimes involves transferring employees and assets from one firm to another.
Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored.
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain.
Knowledge process outsourcing (KPO) describes the outsourcing of core information-related business activities which are competitively important or form an integral part of a company's value chain. KPO requires advanced analytical and technical skills as well as a high degree of specialist expertise.
One of the most dynamic and fastest growing sectors in the Philippines is the information technology–business process outsourcing (IT-BPO) industry. The industry is composed of eight sub-sectors, namely, knowledge process outsourcing and back offices, animation, call centers, software development, game development, engineering design, and medical transcription. The IT-BPO industry plays a major role in the country's growth and development.
Medical transcription, also known as MT, is an allied health profession dealing with the process of transcribing voice-recorded medical reports that are dictated by physicians, nurses and other healthcare practitioners. Medical reports can be voice files, notes taken during a lecture, or other spoken material. These are dictated over the phone or uploaded digitally via the Internet or through smart phone apps.
Business process outsourcing to India refers to the business process outsourcing services in the outsourcing industry in India, catering mainly to Western operations of multinational corporations (MNCs).
Genpact Ltd. is an American multinational information technology services, consulting, and outsourcing company headquartered in New York City, New York. Founded in Gurgaon, India, and legally domiciled in Bermuda, Genpact currently employs more than 125,000 people and provides services to clients in over 30 countries worldwide. Genpact is listed on the NYSE and generated revenues of US$4.48 billion in 2023.
Legal outsourcing, also known as legal process outsourcing (LPO), refers to the practice of a law firm or corporation obtaining legal support services from an outside law firm or legal support services company. When the LPO provider is based in another country, the practice is called offshoring and involves the practice of outsourcing any activity except those where personal presence or contact is required, e.g. appearances in court and face-to-face negotiations. When the LPO provider is based in the same country, the practice of outsourcing includes agency work and other services requiring a physical presence, such as court appearances. This process is one of the incidents of the larger movement towards outsourcing. The most commonly offered services have been agency work, document review, legal research and writing, drafting of pleadings and briefs, and patent services.
Dechert LLP is a multinational American law firm of more than 900 lawyers with practices in corporate and securities, complex litigation, finance and real estate, financial services, asset management, and private equity. In 2021, the firm raised revenues by 25%, with a total of $1.3 billion. On Law.com's 2022 Global 200 survey, Dechert ranked as the 41st highest grossing law firm in the world.
GlobalLogic is an American digital services company providing software development services. It is a subsidiary of Hitachi. GlobalLogic has corporate headquarters in San Jose, California.
On-demand outsourcing is a trend in outsourcing wherein major internal operations processes of a company are being shifted to a provider that is paid for by the number of transactions involved. The business transferring the services pays for the quality, special skills and the competence of the service provider's employees. There has been an expansion of the outsourcing concept to include on-demand outsourcing. This refers to the process undertaken by business managers to adopt an outsourcing policy that ensures that the specific business and supplies including technical manpower are accessed as the need arises. It focuses a business strategy to improve its goods and services and to drive a business towards quality improvement.
In software engineering, offshore custom software development consists in offshoring the software development process in a country where production costs are lower, thus decreasing budget spending.
Thomson Reuters Corporation is a Canadian-American multinational information conglomerate. The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.
OnRamp Systems is a legal technology company that specializes in applying people, process, and technology in support of corporate legal departments. OnRamp System’s collaborative platform, Legal OnRamp, has been cited by Harvard Law School as one of the first to combine law and technology.
VanceInfo is an IT outsourcing company headquartered in Beijing, China. It ranks first among Chinese offshore software development service providers for the North American and European markets as measured by 2010 revenues. The service areas of the company are in tech, telecom, finance, travel, manufacturing, retail and logistics.
TriNet Group, Inc. is an American cloud-based professional employer organization for small and medium-sized businesses. TriNet administers payroll and health benefits and advises clients on employment law compliance and risk reduction, acting in some cases as an outsourced human resources department. TriNet is headquartered in Dublin, California. TriNet partners with organizations between 3 and 2,500 employees.
Mindcrest Inc. is a legal services provider headquartered in Chicago, Illinois, United States, with operations in India. Mindcrest specializes in litigation support, contracts, compliance, legal research, analytics, and real estate.
Barry H. Fromm was the Chairman of three major firms, Value Recovery Group LLC (VRG), Ohio Railcar Group, LLC, and Value Recovery Holding, LLC. His firms perform a number of consulting and collection services including international banking, debt workout, management of distressed asset portfolios, recreation, debt collections and site development. His firm serve as the prime contractor for the Department of Energy’s Loan Programs Office (LPO) support services contract.
