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Outsourcing is the process by which a company contracts another company to provide particular services. These services/ functions would be otherwise carried out in-house, by the company’s own employees. Outsourcing is becoming more and more popular in today’s business environment, and most companies outsource some work or other Call centre services, payroll, maintenance etc are some of the kinds of work typically outsourced. Generally, companies outsource functions that are non-core to their business. The firms that outsource work are known by the terms client and buyer. The firms to which work is outsourced are known variously as vendors, third-party providers or service providers. A company outsourcing work goes about the process in four stages. As the first step, it has to develop the strategy for outsourcing. This means that the company has to first of all identify its business case for outsourcing, and also have a clear idea of the role of outsourcing in its business. The next step is to evaluate potential service providers and decide on projects and locations. Contract development comes as the next step, where the buyer and vendor negotiate and settle on legal, pricing and service level agreement terms. The outsourcing contract is on from this stage, and in the fourth stage the buyer has to manage the outsourcing relationship.