As outsourcing's reach broadens, some very dramatic patterns are emerging. Earlier the companies used to outsource in areas like manufacturing where cost considerations were paramount. Now the companies outsource even those activities which involved day-to-day functions such as facilities management and information services maintenance.

As they gain experience with outsourcing arrangements and management, companies expand their outsourcing further until they are even outsourcing activities that center around the relationship of their most prized possession their customers.

Companies who realize the full potential of outsourcing know the benefits go beyond cost savings. They can actually gain more control over their processes that are outsourced as well as increase their flexibility in the market.

The companies that outsource business processes are often able to reengineer those processes and capture new efficiencies. Then they can reallocate resources to other important projects and leverage their investment in technology.

The following processes under the different functions can be outsourced:

Finance and Accounts

° General Accounting
° Accounts Receivables
° Accounts Payables
° Billing Services
° Reconciliations
° Tax Returns
° Audit of Accounts

HR Services

° Payroll Services
° Benefits Administration
° Personnel Administration
° Retirement Planning
° Hiring and Recruitment

Transactions Processing

° Royalty Claims Processing
° Accident Claims Processing
° Health Claims Processing
° Check Processing
° Credit/Debit Card Processing
° Insurance Claims Processing

Transcription Services

° Legal Transcription
° Medical Transcription
° Other Data Conversion