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Business Business Process Process OutsourcingOutsourcing

What is BPO actually?What is BPO actually?

Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a third-party service provider.

It is basically the process by which a company can delegate certain functions of their business to a specialized organization who can get it done more cheaply, quickly, and efficiently BPO Advantages Cost.

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BPO that is contracted outside a company's country is called offshore outsourcing

BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact center services.

Often the business processes are information technology-based, and are referred to as ITES-BPO, where ITES stands for Information Technology Enabled Service.

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BPO Benefits…BPO Benefits…

BPO or outsourcing is advantageous as it links to shareholder value. Business Process Outsourcing is about optimizing business performance to attain value creation. There has been a tremendous upsurge in BPO and outsourcing industry in many developing countries like India because of their (BPO) expertise in reducing costs while increasing service quality.

Another great BPO benefit is that it helps companies to focus on core areas.

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Reduction in costs is another BPO benefit. BPO provides quantifiable benefits through improved efficiencies, lower overhead, reduced payroll and benefit expenses, and fewer capital investments.

Other BPO benefits include assurance of best practices, skills, and technology. It is important to note that BPO provides access to proprietary workflow systems, process reengineering skills, and innovative staffing and delivery models, coupled with world-class technology delivered by experts.

Companies generally outsource processes to reallocate accountability and control costs.

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Productive ImprovementsProductive Improvements

An important facet of business process outsourcing is its ability to free corporate executives from some of their day-to-day process management responsibilities.

But the scenario is remarkably different when the business process is outsourced.

Once a process is successfully outsourced, the ratio can be easily reversed. In such situations, executives get more time. This saved time helps them tremendously to explore new revenue areas, accelerate other projects and focus on their customers. This, beyond doubt, leads to productivity improvements. BPOBPO

Companies that outsource their business processes are often able to capture new efficiencies and in the process improve upon their productivity.

Availability of highly qualified skill pool and faster adoption of well-defined business processes leads to productivity improvements without compromising on quality.

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BPO Industry: Hiring Process…BPO Industry: Hiring Process…

BPO Industry typically hire a large number of service professionals at one time.

For example, after receiving a new client agreement, we could be faced with a hiring need of hundreds of service professionals.

The specific skill sets that we typically look for are candidates who have a strong command of the English language, combines with technical knowledge and, in some cases, IT experience.

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BPO Industry: Career GrowthBPO Industry: Career Growth

The BPO industry offers excellent career growth for anyone looking to grow their career in a business dedicated to providing service to some of the world’s leading technology, communications and media brands.

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Stream is committed to promoting from within, and therefore our service professionals have the ability to grow their career to team managers, country managers and even potentially vice presidents.

The BPO industry itself has matured in recent years and its growth is on par with other leading industries.

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Reason for AttritionReason for Attrition

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BPO Industry: Salary RangeBPO Industry: Salary Range

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