Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally, and sometimes involves transferring employees and assets from one firm to another.
The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981. The concept, which The Economist says "made its presence felt since the time of the Second World War," often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call centre support).
Outsourcing is also the practice of handing over control of public services to private enterprises, even if on a short-term limited basis.
As you focus on the core activities of your growing company, you will also need to deal with your non-core functions efficiently. Outsourcing work is a tried-and-tested model and is recognized as a long term competitive strategy for success.