What you take on yourself when nobody is the employer.
Hiring independent contractors offshore is the fastest way to get someone working. You find a person, agree a rate and pay an invoice. Nobody handles payroll, benefits, local labour compliance or equipment, because there is no employer in the arrangement other than, in some jurisdictions, you.
Connext employs the same kind of person under a formal contract, which moves payroll, benefits, HR, IT and misclassification risk onto us. The comparison is really about which of those jobs you want to keep, and what happens when a contractor stops answering or a labour authority asks who the employer was.
Contractors are the fastest way to get a short, clearly defined piece of work moving, with no structure to set up. Choose Connext when the work repeats and somebody has to be the legal employer.
Follow an engagement from the day you sign it to the day you judge it. At each milestone the two models do something different and at the last one, the BPO wins.

Figures as published on the source comparison page.