From IT maintenance to CRM and business process automation, outsourcing is firmly ingrained in company culture and is central to the smooth operation of the world’s biggest and most renowned businesses.

The benefits are supposedly clear, with cost-reduction typically the number one goal. However, despite vast sums spent on outsourcing contracts each year – more than $42.2bn in 2008, according to Gartner – it appears many companies are failing to keep track of their outsourcing investments and are subsequently missing out on the major benefits of outsourcing.