What is Business Process Outsourcing (BPO)?
Business process outsourcing (BPO) is the contracting of non-primary business activities and functions to a third-party provider such as ourselves. BPO services include payroll, human resources (HR), billing/collection management, accounting and performance management tools.
BPO is implemented as a cost saving measure for tasks that a company requires but does not depend upon to maintain their position in their marketplace.
BPO is often divided into two categories; back office outsourcing, which includes internal business functions such as billing or purchasing, and front office outsourcing, which includes customer-related services such as marketing or tech support.
What are the main advantages of BPO?
• Business process speed and efficiency are enhanced.
• Employees may invest more time in core business strategies to bolster competitive advantage and enhance value chain engagement.
• Organisational growth increases when capital resource and asset expenditures are not required, which averts problematic investment returns.
• Organisations are not required to invest in unrelated primary business strategy assets, facilitating a shift in focus to specific competencies.