TTEC | Glossary | Offshoring

What is Offshoring?

Offshoring is the transferring activities or ownership of a complete business process to a different country from the country (or countries) where the company receiving the services is located. This is primarily to access a lower cost labor market, but may also be to access additional skilled labor or establish a business presence in a foreign country. Companies may utilize offshoring either through an outsourcing arrangement with a third-party or by establishing their own Global In-house Center (GIC) presence in the offshore location, among other business structures.