Business process outsourcing (often called BPO) in a lame man's terms can be defined as "a process of sharing your business functions (responsibilities) with a third party organization which is a proven expert in doing things that you cannot or do not want to handle yourself". Simply speaking it is the process of assigning the work that you cannot do yourself to some expert who will do it for you.
Knowledge process outsourcing (KPO) which is relatively an unpopular term means the outsourcing of processes that require high level of technical and analytical expertise, the simple reasons for outsourcing of such core processes specialized knowledge and expertise, additional value creation, cost reductions, shortage of skilled labour.
BPO/KPO business is one of the most flourishing business is today's date.
Source :- http://www.devbpo.com/blog/what-is-bpo
Knowledge process outsourcing (KPO) which is relatively an unpopular term means the outsourcing of processes that require high level of technical and analytical expertise, the simple reasons for outsourcing of such core processes specialized knowledge and expertise, additional value creation, cost reductions, shortage of skilled labour.
BPO/KPO business is one of the most flourishing business is today's date.
Why outsource your Business?
Whenever you want to start a business or you want to grow your business further, the biggest hurdle that comes in your way is that you will not have enough staff, proper expertise, sufficient infrastructure and other such resources.
In such a case if you try developing all these resources by yourself then it is neither wise nor economical. In such a case it is logical to outsource that particular "hurdle" to someone who will finish the work for you with best quality, least time consumption and at the cheapest rates.
In such a case if you try developing all these resources by yourself then it is neither wise nor economical. In such a case it is logical to outsource that particular "hurdle" to someone who will finish the work for you with best quality, least time consumption and at the cheapest rates.
What are the advantages of Outsourcing?
- Outsourcing all your data entry and other cumbersome jobs to a partner lets you concentrate on your core activities and lets you do what you do best.
- Outsourcing your responsibilities to a BPO, especially an Indian BPO company who are experts in handling quantity and delivering quality at the same time will offer you great superiority at the lowest possible expenditures giving you unmatched cost-efficiency.
- Overhead cost Reduction is also a very big advantage. Many processes generally require large infrastructure, Investment, maintenance and other overheads so it is always advisable to outsource such processes.
- If you employees leave their jobs on a short notice, even then it is possible to operate at the same pace without the risk of a substandard efficiency because of outsourcing.
- If a large project is to done and your employees do not have the required skills then on-site outsourcing of the project will enable your employees to gain skills while working side-by-side with the BPO outsourcing company.
Source :- http://www.devbpo.com/blog/what-is-bpo
