Industry News

Outsourcing innovation thrives in real estate

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Innovation in outsourcing is coming largely from small- to medium-sized companies such as real estate businesses, and can be leveraged as a strategic tool, according to a report by UniSeva released in late July. "Outsourcing is anything you use outside the four boundary walls of the corporation," said Ravi Renduchintala, president of UniSeva. UniSeva is a global servicing strategy and business technology firm that enables businesses to innovate, he said. Renduchintala pointed out that often, people don't understand the difference between outsourcing and offshoring. Offshoring takes place overseas; it means a company is transferring its job functions overseas to its own facility or subsidiary, he said. Outsourcing is a different matter. According to UniSeva's president, the real estate industry itself is a good example of outsourcing. "From loan organization to loan management to loan servicing, physically one company does not manufacture or service it all. They depend on a number...