Investopedia says that outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company’s own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office.
Outsourcing can help businesses reduce labor costs significantly. When a company uses outsourcing, it enlists the help of outside organizations not affiliated with the company to complete certain tasks. The outside organizations typically set up different compensation structures with their employees than the outsourcing company, enabling them to complete the work for less money. This ultimately enables the outsourcing money to lower its labor costs. Businesses can also avoid expenses associated with overhead, equipment, and technology.
During the second edition of MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit and Awards, Stav Zilbershtein, Co-Founder and CEO of Hyperion Tech, will present a special keynote about the current state of outsourcing in the Baltics and Nordics with an emphasis on practical lessons, risks and solutions.
MARE BALTICUM Gaming Summit will take place on the 9th of May at Radisson Blu Royal Astorija Hotel and is gathering the gambling industry from the Baltic and Scandinavian regions for a full day of quality learning and networking with like-minded peers, regulators and representatives of the industry media.