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Outsourcing Renaissance: Emergence of the Next Wave with Outsourcing 2.0

In: The Road to Outsourcing 4.0

Author

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  • Mohammadreza Akbari

    (James Cook University)

Abstract

Outsourcing has evolved significantly from its roots as a cost-saving measure. It now serves as a strategic tool for businesses seeking a competitive edge. A pivotal development in this evolution is the emergence of Outsourcing 2.0, also known as Vested Outsourcing. This chapter examines innovative models—transaction-based, outcome-based, and investment-based—exploring how they merge in Outsourcing 2.0 and Vested Outsourcing to create a hybrid model. Outsourcing 2.0 represents a paradigm shift in how organizations approach external collaborations. These models prioritize enduring partnerships, shared goals, and collaborative problem-solving. Drawing inspiration from various outsourcing approaches, the transaction-based model resembles traditional outsourcing, focusing on specific tasks. The outcome-based business model emphasizes results, incentivizing service providers to achieve predefined objectives. The investment-based model takes it further by promoting shared risks and rewards. Ultimately, outsourcing 2.0 blends these elements into a hybrid model that fosters efficiency, innovation, and long-term success, transcending the transactional nature of traditional outsourcing.

Suggested Citation

  • Mohammadreza Akbari, 2024. "Outsourcing Renaissance: Emergence of the Next Wave with Outsourcing 2.0," Springer Books, in: The Road to Outsourcing 4.0, chapter 0, pages 49-74, Springer.
    • Handle: RePEc:spr:sprchp:978-981-97-2708-7_3
    DOI: 10.1007/978-981-97-2708-7_3
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