What is the Full form of BPO?
The full form of BPO is Business Process Outsourcing. BPO is an organization contract with a 3rd party or an independent service provider with regard to its workflow activities and obligations. It is a cost-saving process that allows enterprises to outsource their non-core functions.
The outsourcing of repetitive or secondary business operations is in vogue. Currently, a large number of multinational corporations are outsourcing their maintenance by offering technical support, customer care services, human resources, communications, etc. BPO has gained considerable significance over this period.
Types of BPO options
Onshore outsourcing or Domestic outsourcing
It involves having products of BPO from someone within the same nation
Relates to some of those providing BPO services in neighboring nations.
Refers to receiving BPO facilities from an outside company in another country except for its neighbours.
Advantages of BPO
- Stay focused on the main business
- Reduced overhead
- External Expertise
- Effective and cost-cut
- Increase efficiency at the business
- Revenue growth, and so on.