BPO is the delegation of business processes to an external provider, who in turns owns, administers and manages certain selected process based on defined and measurable performance criteria.
Large corporates, Small and Medium Enterprises (SMEs) and even Banks are outsourcing various parts of their routine work like accounting, taxation and payroll processing. Outsourcing makes these organisations cost effective. They let it to a dedicated group of professionals to do the work who are experts and efficient in these kind of jobs.
Why these corporates, SMEs or banks outsource their process. The following few factors are actually gaining ground:
- Factor Cost Advantage
- Utilization Improvement
- Economy of Scale
- Superior Competency
- Business Risk Mitigation
