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Glossary

Offshoring

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 offshore 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.

Additional Offshoring Resources

  • Outsourcing: Which Shore is right for you: There are many ways to outsource your customer operations and business activities. The hard part is deciding which contact center solution – offshore outsourcing, nearshore outsourcing, onshore outsourcing, at-home, or a combination of them all – is right for your products or services. In this Strategy Guide, take a close look at all the options, and learn how each can benefit your business and your customers for the years to come.
  • Offshoring, Onshoring, Nearshoring: So Many Shores, So Little Time: The growing remote work culture has business leaders looking for the best talent not only in their home country but across continents. The rise of the open talent economy, remote work, and globalization has leveled the playing field: now you must decide which outsourcing destination is right for you. In this blog post, learn the pros and cons of offshoring to help determine if an offshoring company is a good fit for your call centers.
  • Land Ho! The Ins and Outs of Nearshoring Explained: Offshoring operations to other countries has long been considered a solution to high costs and an opportunity to free up internal resources. But before moving business processes to a distant location, companies may want to consider a closer option: nearshoring. While offshoring continues to be a cost-effective way for many companies to increase output, certain circumstances, such as similar time zones, could make the geographical proximity of nearby countries the better option. In this blog post explore this business model and learn how to reap the benefits of nearshoring.
  • 3 ways to balance wages and costs in the contact center: How can firms that operate on razor-thin margins balance wages and costs? One strategy is to optimize your geographic footprint by placing jobs in the most cost-efficient locations around the world, based on skill or language required. In this article, learn about nearshoring and offshoring benefits, and how they can provide untapped opportunities to incorporate global support, lower labor costs, and achieve cost savings.