Most firms will have an Outsourcing Policy Template that is used to document their objectives and procedures for outsourced services and functions. The term ‘outsourcing’ refers to any business function or service that is provided by, or contracted out to an external provider or supplier.
Common examples of functions that are outsourced or are provided by an external supplier include postal and mailing services; shredding and confidential waste disposal; IT services and disaster recovery; debt collection and translations.