We are in the process of converting our physical training material into elearning content. We are looking at out-sourcing some of this work to companies based in South East Asia, particularly in India. We have discussed this with a few companies. The process is similar to the process mentioned by Tyler360.
Generally the process starts with having a discussion on the project, it's goals and objectives, and sharing of the existing learning content. The next big milestone is the creation, and approval of the content storyboard. This takes about 50% of the content production time. Once the storyboard is approved, there is an alpha and then a beta delivery of content, where we can review, comment, and get any changes done.
Most of the vendors that we have talked with have recommended to use Articulate Storyline. Some of them are also open to use Captivate, and or Camtasia, based on delivery formats, and associated requirements.