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Adam Smith, in the ‘The Wealth of Nations', formulates a theory of competitive advantage, extracting the notion of outsourcing as a way to cut costs by hiring cheaper labor in less developed countries.
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England's textile industry is so efficient that eventually Indian manufacturers can't compete, and work is outsourced to England.
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It becomes common to outsource tasks that involve massive amounts of information, such as data processing, to external vendors, due to the large costs and physical storage requirements associated with computers.
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JCR Licklider of MIT publishes a paper discussing his “Galactic Network” concept. He envisions a globally interconnected set of computers through which everyone can quickly access data and programmes from any site.
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It is common for computer companies to export their payrolls to outside service providers for processing.
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Outsourcing enters the business lexicon. Accounting services, payroll, billing, and word processing all became outsourced.
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Outsourcing is formally identified as a business strategy.
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Shift to outsourcing mainframes, PCs, and telecommunications. Outsourcing becomes very profitable with the advent of the WWW.
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As organisations begin to focus more on cost-saving measures, they start to outsource those functions necessary to run a company but not related specifically to the core business.
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The first web server is launched in November helping the outsourcing grow a bit
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Wide Area Information Servers (WAIS) are invented by Brewster Kahle, released by Thinking Machines Corporation. WAIS is a distributed text-searching system that searches index databases on remote computers.
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Outsourcing is a $100 billion per year industry.
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Outsourcing accumulates $298.5 billion in global revenues
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Outsourcing is one of the topics of debate between the candidates in the United States presidential election.
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a professional services firm based in India and founded in 1999, takes this approach a step further and actually does deals based on guarantees of business results. HCL recognized that customers are impressed when a vendor accepts and manages risk, so it created six different service offerings that involve taking on some of the risk based on the investment the customer is making.
