What is Business Process Outsourcing?

Business Process Outsourcing (BPO) is a part of outsourcing that involves contracting of operations and responsibilities of a specific business process to a third-party service provider.

It is typically classified as back office outsourcing which includes internal business functions such as human resources or finance and/or accounting and front office outsourcing which includes customer-related services such as contact centre services.

BPO benefits not only the companies that outsource but also the people who openly embrace the opportunity to work with foreign businesses in their homeland. For both parties, the advantages are undeniable, and among other things include the increase of company’s flexibility and possibility to concentrate on the most important operations while outsourcing others.

What is Knowledge Process Outsourcing?

Knowledge Process Outsourcing (KPO) is the outsourcing of core, information-related business activities, meaning that knowledge and information-related work is carried out by workers in a different company or by a subsidiary of the same organization. This subsidiary may be in the same country or in an offshore location to save costs or other resources.

KPO is great for businesses that are looking to reduce the costs of their operations or products, that have a shortage of skilled employees in a particular field, or are looking to free up human capital to do other work.

What is Legal Process Outsourcing?

Legal process outsourcing (LPO) is the process of assigning law-related tasks to an external firm (globally) that is able to handle those tasks efficiently. A lot of small and large-scale law firms are outsourcing legal work to external firms nowadays.

This type of outsourcing is also known as offshoring, onshoring, LPO, legal process offshoring, and legal process onshoring. Legal outsourcing companies are making it easy for legal departments and law firms to be more efficient while keeping the operational costs low and ensuring higher profitability.

What is Research Process Outsourcing?

Research process outsourcing (RPO) refers to outsourcing of research and analysis functions.

Business information requires careful study and sifting before value-added analysis can be done. The amount of information available today requires an inordinate amount of time to wade through before business executives can derive value from it. RPO enhances productivity of the workplace, enabling companies to handle more business, while cost savings can be significant and a long-term relationship with offshore partners can give companies value in terms of innovations and productivity.

It’s Not Just for Big Firms

Outsourcing is technically defined as using resources outside the internal operations of a business to keep things running smoothly. Small firms, in particular, might find themselves slammed with a time-draining major case that will demand all hands on deck for a period of time. But what happens to other clients while the entire in-house staff is focused on that one case? Outsourcing provides flexibility and cost savings over hiring additional staff to keep the firm up and running efficiently.

Make the smart business decision and use BPO to your advantage. It’s a quick, easy and affordable way to build your company and witness exponential growth.

1. Get access to skilled expertise

One of the primary reasons why a businesses may want to outsource a task is when they require additional skilled expertise. To allow you to focus on your core mission in providing a high quality product and service to your customer, offshoring the task to people who can perform it better makes sense.

2. Focus on core activities

Workload increases with additional non-core functions and the quality of your core activities suffers as your business grows. Outsourcing in such scenarios, to a third party, plays an important role by allowing your key resources to focus on primary business tasks.

3. Cut costs and save BIG!

All previously listed benefits come with the bonus benefit of lower cost and big savings! When you outsource services to a low-cost country, you are getting access to high quality services at a fraction of the price!

4. Give your business a competitive edge

The benefit of outsourcing is that it helps your company gain a competitive edge in the market. Through strategic outsourcing to an outsourcing partner, you are providing your customers with best-of breed services, while increasing your productivity and managing your in-house resources efficiently.

5. Cater to changing customer demands

This is another great advantage of outsourcing your business processes. Many BPOs provide the management with flexible services to meet the customers’ changing requirements, and to support company acquisitions, consolidations, and joint ventures.

6. Increasing in-house efficiency

After you allocate tasks to your outsourcing partner, they share the workload of your employees. This allows you to develop your internal task force and use them more efficiently.