BPO as expanded sounds as Business Process Outsourcing and can be aptly defined as the act of utilizing the services of a third party by a company in order to perform its back office operations that might be payroll administration, customer help desks/ call centers, tele- marketing, accounting, billing; the list is endless.
Business Process Outsourcing includes the following areas and a lot more
Back office operations
Customer Relationship Management
Call Centers and telemarketing
Tele-servicing and product support
Payroll maintenance
Finance / Accounting/billing
Human Resources
Logistics Management
Supply Chain Management
Medical transcription
Back Office Operations
Insurance Claims Processing
Legal database maintenance
The BPO Industry The BPO industry has flourished at a frantic pace in the last few years and companies have ended up with huge savings by being a part of the industry. By outsourcing their back office business processes to cheaper nations like China, India, Philippines, Mexico, South Africa etc companies can cut costs, better concentrate on their core businesses and strengths, ensure better customer satisfaction and in a way get an edge over their competitors. A report suggests that US firms have saved nearly $8 billion through outsourcing to third world nations like India.
Benefits of BPO
Increase productivity
Cut operational costs
Provide better service
Save costs
Improved accountability
The BPO boom seems to be increasing everyday with more and more companies deciding to follow the race, making conditions really viable for a positive growth in the BPO industry.
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BPO as expanded sounds as Business Process Outsourcing and can be aptly defined as the act of utilizing the services of a third party by a company in order to perform its back office operations that might be payroll administration, customer help desks/ call centers, tele- marketing, accounting, billing; the list is endless.
Business Process Outsourcing includes the following areas and a lot more
The BPO Industry
The BPO industry has flourished at a frantic pace in the last few years and companies have ended up with huge savings by being a part of the industry. By outsourcing their back office business processes to cheaper nations like China, India, Philippines, Mexico, South Africa etc companies can cut costs, better concentrate on their core businesses and strengths, ensure better customer satisfaction and in a way get an edge over their competitors. A report suggests that US firms have saved nearly $8 billion through outsourcing to third world nations like India.
Benefits of BPO
The BPO boom seems to be increasing everyday with more and more companies deciding to follow the race, making conditions really viable for a positive growth in the BPO industry.
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