Business Process Outsourcing
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider.
Business process outsourcing is the contracting of a specific business task such as payroll, human resources or accounting to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain their position in the marketplace.
The top advantages of BPO are saved money and increased time to focus on the core business. Some other benefits include:
- Speed and efficiencies of outsourced business processes are enhanced
- Organizations using BPO get access to the latest technology
- Freedom and flexibility to choose the most relevant services for the company's operations
- Quick and accurate reporting
- Save on resources related to staffing and training