Business Processing Sourcing and Co-sourcing
Cosourcing, to some extent, is an outsourcing business development method with the difference that:
- In cosourcing collaboration starts from the beginning of the product definition and design. The cosourcer's role is not limited to the development phase only.
- The full project management can even be carried out by the cosourcer.
- The cosourcer has more than just extra resources. The cosourcer has both Technical and Business expertise in the field of that particular business process.
Moreover:
- Being specialized, the cosourcer can provide post-development support and maintenance services when required.
- When the cosourcer leverages on a geographically distributed team, cosourcing can achieve exceptional return on investment through cost reduction.
Why cosource?
There are three main reasons justifying a cosourcing:
- Limited resources: a company might lack the resources.
- Timing: a company might not have the time to develop a new product using just internal resources.
- Cost: the cost of cosourcing is much lower than an internal development.
Who cosources?
Virtually any company can call upon the services of a cosourcing company.
- Technology companies seeking to build new products or to innovate existing products but who lack the time and resources.
- Corporations seeking to build new business markets but lack the time and resources.
- And any other company seeking to promote new products and to innovate existing products.