What is Business Process Outsourcing

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What is Business Process Outsourcing?
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BPO Services

• Business process outsourcing (BPO) is the subset
  contracting of a specific business task, to an
  outsourced third party at defined terms,
  conditions and performance indicators.
• The industry is largely divided into two parts
  first being back office support that may include
  payrolls, billing, purchasing, technical support
  and front office which includes customer facing
  functions such as telecalling, customer support,
  web chat, email support to name a few.
• The BPO industry is undergoing lots of changes
  and many sub domains have emerged in last few
  years which includes legal outsourcing, creative
  process outsourcing and HR outsourcing (including
  recruitments) to name a few.

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IMPORTANCE OF BPO 

• The work is deliberatively performed by a group
  of people to make companies more profitable,
  valuable and competitive and to bring out a
  meaningful change in the business stream that
  benefits not only customers, but also employees
  and shareholders.
• Here are the three top highlights of BPO services.

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1. CORE COMPETENCE

• The management of the company can focus on
  building a real competitive business by enhancing
  the integrated business process with better,
  faster and less expensive sources and competing
  more effectively in the global marketplace.
• Thus the company spends lot more time directly on
  developing the core competence.

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2.FOCUS ON CUSTOMERS NEED

• The outsourcing call center team provides more
  flexible and extensive services to the clients
  changing needs and requirements.
• This team continuously monitors the required
  information of the customers requirements.
• The outsourcing companies have developed
  specialized industry knowledge to cater to
  different industries.
• This brings the knowledge depth and outsourcing
  destinations like Philippines and India have thus
  developed a talent pool that understands the
  needs of the customer.

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3. ENHANCING THE SHAREHOLDERS VALUE

• Business Process Outsourcing has a direct impact
  on improving the shareholder value.
• BPO, business process outsourcing helps companies
  gain more profits, leading to development in
  shareholders value.

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4. SCALABILITY AND FLEXIBILITY

• The outsourcing industry brings a lot of
  flexibility to the companies in terms of
  scalability and flexibility.
• Other than cost savings and operational
  efficiencies as described above, the outsourcing
  helps in converting the capex into opex and the
  scalability can be managed on demand thus making
  it a flexible model.
• It is essential for everyone to know the
  significance of business process outsourcing
  before allocating any task to a service provider.
  
• Check the nature of BPO services offered by
  various service providers and decide on a right
  BPO firm that you feel can meet your required
  specifications.

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