Increasing competition and vagaries of economy have made outsourcing a necessity for modern businesses. They may partly outsource their business processes or collaborate with a provider for full spectrum of services. Established BPO companies provide innovative solutions backed by state-of-the-art technology. Business Process Outsourcing (BPO) is the process of letting out business activities. It involves the outsourcing of the specific business functions to a competent third-party service provider. The term was originally associated with manufacturing firms that outsourced segments of their supply chain.
In the contemporary context, BPO indicates back office outsourcing that includes internal business functions such as finance, accounting, front office, human resource, customer care and many more services. A top BPO service provider may offer cross industry horizontal solutions like Human Resources Outsourcing, Finance & Accounting Outsourcing, Knowledge Process Outsourcing, Technical Support Services, Customer Relationship Management and Supply Chain Management (SCM). They may also focus on key industry services such as Health Care Services, Financial Services, Public Services, Telecom, Energy & Utility, Logistics, Retail & CPG, Media & Publishing and Manufacturing.
Business Process Outsourcing (BPO) and our Vision
We believe that BPO will be radically re-defined over the next five to ten years. Instead of its historic role as a cost-cutting tool, it will increasingly be viewed as a means of delivering higher-quality services and capabilities. At the heart of this transformation is technology.
Our investments in such technologies like cloud computing, BI solutions, document management solutions and business process automation (BPM) solutions will help us to deliver far more sophisticated products and services.
In parallel with this re-definition of purpose, will be a re-ordering of source. Higher-value onshore, as opposed to traditional low-cost offshore outsourcing, will gain ground.
The ability to master Business Process Outsourcing’s transformation for maximum advantage, will be among the characteristics that define the successful corporates of tomorrow.