Business Process Outsourcing can be defined as the strategic use of outside resources to perform activities traditionally handled by Internal staff and resources’. Outsourcing is also the practice of handing over control of public services to private enterprise. Offshore outsourcing: Hiring agencies located In other countries.
History: When did Business Process Outsourcing start?
Since the Industrial Revolution, companies have grappled with how they can exploit their competitive advantage to Increase their markets and their profits. An officially known term from 1980: Companies started focussing more on pet saving. The rise of emerging service providing firms. Outsourced those functions for which they had no competency Internally, but now even the core segments fike strategy planning, financial operations etc are being outsourced.
The steps involved in Business Process outsourcing process
Step I: Automate, Automate, Automate
Step 2: Its a Big, Big World — Use it
Step 3: Don’t Customize— Configure
Step 4. Subscribe to the Future
What are the different services generally outsourced?
A. Financial services
D. Research and development
E. Customer Support centers
F. IT hubs
G. Designers and programmers
H. Legal Services
I. Strategy Planning
Top 10 Business Process Outsourcing locations in the world
Why Business Process Outsourcing in India?
A. Access to a skilled workforce
B. Friendly outsourcing policies
C. Better Risk Management
D. Increasing In-house efficiency
E. Run your business 24*7
F. Staffing Flexibility
G. Productivity & Better Customer Support
H. Cut costs and save BIG
I. Seamless Communication
J. Advanced Infrastructure with Latest Technology
Fact: 59% of employers worldwide employing Indian workers.
22% of companies say they have plans to mow at least some of their operations to India
Facts and Graphs
A. A survey by Bain & Company, 82% of the largest companies In Europe, Asia, and North America have some type of outsourcing agreement in place.
B. Specifically, 51% of companies outsource to a totally separate organization In another country, known as “offshore outsourcing.
C Main reason- In the IT and business sectors, cost factors into 87% of outsourcing decisions.
At Technoheight, our Business Process Outsourcing (BPO) services are focused towards delivering outstanding results for our clients.