Explainers: Outsourcing Agreements
in a Nutshell
Explainers
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Explainer – simple and understandable definitions for complex and new things. The Mochadocs Explainers help in simplifying contract lifecycle management topics so that anyone can understand them easily. Our explainers may come in different sorts, such as eBooks, articles, Podcasts, and more.
What is an Outsourcing Agreement?
Reading time: 10 minutes
Quiz time: 3 minutes
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Outsourcing agreement refers to any formal contract or agreement between an organisation (client) and another company or service provider on outsourcing. This contract lays out the terms of outsourcing of certain functions or processes which are provided by the external service providers.
Whenever companies feel that focusing their resources of competencies where it should focus such as concentrating in the area of strength, they go for an outsource agreement which is contractually agreed with another firm whose core competency lies in the provision of non-core functions not offered by them. They can cover areas such as IT outsourcing, BPO , customer support, manufacturing et al. Such contracts aid clients and vendors to recognize obligations, duties, and anticipations that they hold in common.
Case Studies
- Retrieve contracts in a large company
- The contract reports itself automatically
- New deal with a supplier saved us 4 tons already this year
- I saw that the business thought it was a fantastic system
- Above all, don’t over complicate it
- Not too much nonsense, while saving a lot of money
- Every contract can be found in 20 seconds
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