All About BPO

  • September 1, 2011
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Today, a new word in the business world, called “BPO” is currently making a buzz. But what is BPO anyway?

BPO, or business process outsourcing, is a process that occurs when a company turns over some of its business processes (mostly back office operations) such as payable or purchasing accounts to a third party that takes control of the activity.

BPO includes IT mangament and business operations such as Call centers, transaction processing, back office operations, customer relationship services, payroll, accounting, billing etc. BPO is considered the greatest contributor in the ourtsourcing world.

Outsourcing their back office work can allow companies to cut huge costs and focus more on their core operations. They can also better the satisfaction they can give to their customers that eventually may lead to assimilation of cutsomers, as productivity also increases. In short, more profits.

Companies also cut nearly half of their operational expenses to countries in Asia such as India and the Philippines, thus, resulting to larger profits. Undoubtedly outsourcing has gained popularity, as a large number of companies have followed on because of the benefits outsourcing has to offer.

For companies planning to take a major dive into BPO, you should construct plans which are effective and this could be achieved by understanding your vision together with long term goals. Choosing the appropriate BPO destination and of course the BPO vendor is considered essential for running operations more smoothly and shall have good returns. Today, countries such as India and the Philippines offer great deals as they are tagged as the top BPO destinations in the world.

However, these are a few things that you need to consider in choosing your BPO destination. These include: capacity of work; rates fixed of the service; term, conditions and termination rules; performance guarantees; training costs; security, privacy, and continuity terms; and indemnification and insurance.

If you consider having these things, it will ensure you that you get the most of outsourcing.

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