What do you mean by the term outsourcing?

Generally companies do outsourcing for reducing the workload and getting things done cheaper. Because for the same amount of work can be done in a foreign country at a cheaper price . Outsourcing means giving out contracts to international firms for certain business processes. For example, giving out accounting function to an international firm. This is usually effective when the cost of conducting these processes are comparatively much cheaper in some other country than in the home country.