Buzzwords - Back-sourcing
(noun) bringing an outsourced job back in-house
(noun) bringing an outsourced job back in-house
‘Focusing on core values’ has always been the mantra of companies in trouble. When times are tough, and all those brilliant ideas by the more ‘creative’ executives haven’t come to roost, businesses scale back. The other way of putting it is ‘getting rid of a lot of people’. Jobs that were previously done by reliable in-house staff are ‘outsourced’ to other companies as a way to cut costs.
Unfortunately, it’s far more difficult to stamp your authority on a call centre in India run by someone else. When the tight ship you were used to running suddenly spirals out of control it’s time to rein it back in.
Back-sourcing solves the problem initially created by the company by moving these functions back in house. It’s just a shame that such a cost-cutting exercise seems to cost so much.
Baffled by business buzzwords? Send them to [email protected] and we’ll attempt to deconstruct them.
The numbers you crunch tell a story. Your expertis...
20yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article