Co-sourcing is a relatively new business model. It’s a hybrid between insourcing and outsourcing, where companies hire an external team to act as their internal team. Co-sourcing is an approach where the internal and external teams work side-by-side sharing risks, facing issues, and quickly coming up with solutions to challenges, and a model that has emerged from the need of creating value for both companies.
Co-sourcing aims to find the balance between in-sourced and outsourced support and combine those in a way that fits the need and the current business circumstances. Co-sourcing has been gaining popularity in the realms of IT and Accounting especially because both firms benefit and share risks. There are other situations where a co-managed services model can help.
Take your new website development. You can have your IT and graphics people build it. Most firms with 100 or so employees are already keeping those departments very busy, and with an average website requiring weeks of work, something will fall behind. So, you can outsource that with little hesitation, after all; website companies are everywhere.
But what if the website is e-commerce and will be an ongoing affair, month over month, year over year? You will certainly need someone in-house at least part of the time taking care of the content, pricing, and customer service. But if you meet the right marketing or digital firm, one who is in an aligned phase of their own development, they may want to forge a long-term relationship and maybe even build their own team around your big project or campaign.