Business Process Outsourcing (BPO) is a subset of customer support outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. BPO is implemented as a cost-saving measure for tasks that a company requires. BPO services include payroll, human resources (HR), accounting, office administration and customer/call centre relations
WHAT IS BPO SERVICE PROVIDER?
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party Service Provider.
WHAT IS THE MEANING OF BPO JOBS?
BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact centre services.
ADVANTAGES OF BPO:
The BPO market has grown tremendously with various benefits for organizations looking to streamline business processes and increase productivity & profit. Business Process Outsourcing is preferred by businesses due to various advantages:
Better business productivity: With a readily available workforce deployed for non-core tasks by outsourcing firms, business managers are able to concentrate more on their core competencies. Thus, BPO helps managers focus less on time-consuming non-core activities and more on factors that enhance business value.
Optimum resource utilization: Outsourcing frees up internal business resources by delegating non-core activities to experienced 3rd party service providers. Internal resources can be then allocated to critical processes, to improve business efficiency.
Cost reduction: Cost reduction is one of the major benefits of business process outsourcing, as you only pay for productive business outcomes. Outsourcing helps the company deliver better service at lower costs, thereby giving them a better market position and even a competitive advantage.
Access to the latest technologies: BPO companies have access to the latest tools and technologies, as they serve multiple business clients. So, outsourcing to a reliable service provider can help you deploy those tools for your business as well.
Cater to Changing Customer Demands: BPO services feature flexibility and scalability for their clients to meet their changing business needs.
The most known advantages of Business Process Outsourcing (BPO) are lowered operational costs and the high-quality services to be delivered by the outsourcing team.