Co-sourcing
Encyclopedia
Co-sourcing is a business practice where a service is performed by staff from inside an organization and also by an external service provider.
It can be a service performed in concert with a client
's existing internal audit
department. The scope of work may focus on one or more aspects of the internal audit
function.
Co-sourcing earns advantage over Total Outsourcing in a way that it minimises sourcing risks, brings in transparency, clarity and better control over the processes outsourced.
Examples of co-sourcing services are supplementing the in-house internal audit
staff with specialised skill such as information risk management
or integrity services, providing routine assistance to in-house auditing for operations and control evaluations in peak period activity and conduct special projects such as fraud investigation or plant investment appraisals.
Another example of co-sourcing is outsourcing
part of software development
or software maintenance
activities to an external organization
, while keeping part of the development in-house.
in which the Identity service interacts directly or through some technical footprint with an organization’s Information Technology
(IT) identity backend infrastructure (directories, databases, and other identity repositories). The organization and the external service provider have a shared responsibility for building, hosting and operating the Identity service. The balance of this responsibility can vary depending on the service levels required, and span from an all on-premise deployment, where the Identity service is built, hosted and operated within the organization’s IT infrastructure and managed on-premise by the external service provider; to an all in-the-cloud, where the Identity service is built, hosted and operated by the service provider in an externally hosted, cloud computing
infrastructure.
It can be a service performed in concert with a client
Customer
A customer is usually used to refer to a current or potential buyer or user of the products of an individual or organization, called the supplier, seller, or vendor. This is typically through purchasing or renting goods or services...
's existing internal audit
Audit
The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.- Accounting...
department. The scope of work may focus on one or more aspects of the internal audit
Internal audit
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk...
function.
Co-sourcing earns advantage over Total Outsourcing in a way that it minimises sourcing risks, brings in transparency, clarity and better control over the processes outsourced.
Examples of co-sourcing services are supplementing the in-house internal audit
Internal audit
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk...
staff with specialised skill such as information risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
or integrity services, providing routine assistance to in-house auditing for operations and control evaluations in peak period activity and conduct special projects such as fraud investigation or plant investment appraisals.
Another example of co-sourcing is outsourcing
Outsourcing
Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
part of software development
Software development
Software development is the development of a software product...
or software maintenance
Software maintenance
Software Maintenance in software engineering is the modification of a software product after delivery to correct faults, to improve performance or other attributes....
activities to an external organization
Organization
An organization is a social group which distributes tasks for a collective goal. The word itself is derived from the Greek word organon, itself derived from the better-known word ergon - as we know `organ` - and it means a compartment for a particular job.There are a variety of legal types of...
, while keeping part of the development in-house.
Identity Management Co-Sourcing
It is an approach to Enterprise Identity ManagementIdentity management
Identity management is a broad administrative area that deals with identifying individuals in a system and controlling access to the resources in that system by placing restrictions on the established identities of the individuals.Identity management is multidisciplinary and covers many...
in which the Identity service interacts directly or through some technical footprint with an organization’s Information Technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
(IT) identity backend infrastructure (directories, databases, and other identity repositories). The organization and the external service provider have a shared responsibility for building, hosting and operating the Identity service. The balance of this responsibility can vary depending on the service levels required, and span from an all on-premise deployment, where the Identity service is built, hosted and operated within the organization’s IT infrastructure and managed on-premise by the external service provider; to an all in-the-cloud, where the Identity service is built, hosted and operated by the service provider in an externally hosted, cloud computing
Cloud computing
Cloud computing is the delivery of computing as a service rather than a product, whereby shared resources, software, and information are provided to computers and other devices as a utility over a network ....
infrastructure.