Glossary

The most comprehensive list of business process outsourcing related terms and definition.

Nearshore Outsourcing

Definition

Nearshore outsourcing is a smart way of hiring people from a third party source of skilled workers for a short or long term project. The contracted workers are from nations near the hiring company. Companies could save a lot from outsourcing than hiring an in-house team. Most employers would typically hire workers from overseas where rates could be lower. However, time is a huge concern. The need for hiring workers with similar culture and language has birthed to nearshore outsourcing.

Some companies get third-party outsourcing partners because skilled workers are abundant for that job in an overseas country. Benefits of nearshore outsourcing include cost savings while compensating for the shortage of in-house staff. In turn, this process helps improve the efficiency of a company. Even if workers come from a different country, the spoken language will be similar. It is also ideal for a company to outsource back-office tasks for lower wages while in-house staff focuses on the more critical roles and functions in the company.

To reap the maximum benefits nearshore outsourcing, one must take due diligence in looking for the best partner that can attune to your business’ requirements. The success rate of nearshore outsourcing significantly increases with collaborative efforts between you and your outsourcing provider, streamline processes, open communication, and common goal setting.

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