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2. What is BPO actually?
Business process outsourcing (BPO) is a subset of outsourcing that
involves the contracting of the operations and responsibilities of
specific business functions (or processes) to a third-party service
provider.
It is basically the process by which a company can delegate certain
functions of their business to a specialized organization who can get
it done more cheaply, quickly, and efficiently BPO Advantages Cost.
BPO
3. BPO that is contracted outside a company's country is
called offshore outsourcing
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 center services.
Often the business processes are information technology-based, and
are referred to as ITES-BPO, where ITES stands for Information
Technology Enabled Service.
BPO
5. BPO Benefits…
BPO or outsourcing is advantageous as it links to shareholder value.
Business Process Outsourcing is about optimizing business performance
to attain value creation. There has been a tremendous upsurge in BPO
and outsourcing industry in many developing countries like India
because of their (BPO) expertise in reducing costs while increasing
service quality.
Another great BPO benefit is that it helps companies to focus on core
areas.
BPO
6. Reduction in costs is another BPO benefit. BPO provides quantifiable
benefits through improved efficiencies, lower overhead, reduced
payroll and benefit expenses, and fewer capital investments.
Other BPO benefits include assurance of best practices, skills, and
technology. It is important to note that BPO provides access to
proprietary workflow systems, process reengineering skills, and
innovative staffing and delivery models, coupled with world-class
technology delivered by experts.
Companies generally outsource processes to reallocate accountability
and control costs.
BPO
8. Productive Improvements
An important facet of business process outsourcing is its ability to free
corporate executives from some of their day-to-day process
management responsibilities.
But the scenario is remarkably different when the business process is
outsourced.
Once a process is successfully outsourced, the ratio can be easily
reversed. In such situations, executives get more time. This saved time
helps them tremendously to explore new revenue areas, accelerate
other projects and focus on their customers. This, beyond doubt, leads
to productivity improvements. BPO
9. Companies that outsource their business processes are often able to
capture new efficiencies and in the process improve upon their
productivity.
Availability of highly qualified skill pool and faster adoption of well-
defined business processes leads to productivity improvements
without compromising on quality.
BPO
10. BPO Industry: Hiring Process…
BPO Industry typically hire a large number of service professionals at
one time.
For example, after receiving a new client agreement, we could be
faced with a hiring need of hundreds of service professionals.
The specific skill sets that we typically look for are candidates who
have a strong command of the English language, combines with
technical knowledge and, in some cases, IT experience.
BPO
11. BPO Industry: Career Growth
The BPO industry offers excellent career growth for anyone looking to
grow their career in a business dedicated to providing service to some
of the world’s leading technology, communications and media brands.
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12. Stream is committed to promoting from within, and therefore our
service professionals have the ability to grow their career to team
managers, country managers and even potentially vice presidents.
The BPO industry itself has matured in recent years and
its growth is on par with other leading industries.
BPO
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