A fully revised and updated edition of this essential book from the world's leading outsourcing experts. The global outsourcing market for IT and business services exceeded $485 billion in 2011 and is set to grow at 8-10% per annum until 2015. Of this, $65 billion was offshore outsourcing where some estimates suggest an annual growth rate of 15-20% over the next five years. Furthermore, over 50 per cent of the Fortune Global 500 had offshored IT and business process activities through captive centres, representing $9 billion of business. The expansion of outsourcing and offshoring, and the emergence of new sourcing models are challenging existing management practices. It has become increasingly important to understand the phenomena, not least as a basis for suggesting what directions it will take, its impacts, how it has been conducted, and how its management can be better facilitated. This book offers a broad perspective on various issues relating to the sourcing of IT and business processes and services in a company, national and global contexts. The authors examine both the client's and the vendor's involvement in sourcing relationships by putting the emphasis on the capabilities that each side should develop prior to entering a relationship but also that they should develop as a result of their interactions with each other.