Processes exist in all organizations. But different organizations have different processes. They vary depending on the business objectives. A process can easily hit a plateau in a business. They need to get better with time. Your organization must rethink your processes to keep up with the competition and the changes in an industry. That’s where…
Business process outsourcing (BPO) means when you assign another company to carry out some of your secondary business processes. These can be any business processes from customer support to data administration, but they can never be the main business processes of your organization.
BPO companies offer different services. If it consists of functions like accounts and financial reporting, then it is considered to be a back-office service. If it offers to handle customer service for an organization, then it is called a front-office service. Besides this BPO organizations may also provide services in various other domains like recruitment, cold calling, after sales support.
BPO services are classified into three different types depending on the location of the company employed for outsourcing.
One of the major benefits of using BPO services includes saving your resources to concentrate on your core business priorities. This is good for the overall growth of your business.
Now that you have outsourced a business function that isn’t your forte you have less to worry about a specific skill set. However, now you also have less control over it since the BPO company is an external entity. It can be a risk you should be willing to take.
Let’s take a glance at some of the benefits and risks involved in using BPOs.