(ISO: Geneva) -- As businesses worldwide look to be more nimble, reduce risks, and tap into wider networks of expertise, it’s no wonder that the trend toward outsourcing has exploded. Just as well that a new ISO standard for outsourcing has been published.

Outsourcing—transferring work to external companies—is nothing new. But in recent years it has taken off according to Deloitte’s 2014 Global Outsourcing and Insourcing Survey, and they predict the trend to continue growing at rates of 12–26 percent.

Initially focused on highly transactional back-office processes or noncritical services, outsourcing now encompasses strategic functions, with some companies off-loading entire segments of their value chain.

Providing access to the latest technologies, reducing headcounts, and therefore reducing risks make outsourcing highly attractive. But it’s not without challenges, some rising from the plethora of methodologies.

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