Scope of Business Process Outsourcing (BPO) Market
Business process outsourcing (BPO) is a process of subcontracting various business-related operations ideally non-core to third-party service providers. Although BPO originally useful solely to manufacturing entities, such as soft drink manufacturers that outsourced large segments of their supply chains, BPO now applies to the outsourcing of services, as well. Business process outsourcing (BPO) services are delivered to IT, finance & accounting, back-office process, e-commerce and support, procurement, human resource & recruitment process among others, by third-party providers to various organisations. A BPO service provider usually administers and manages a particular business process for another company. BPOs either use new technology or apply an existing technology in a new way to improve a particular business process. It is the contracting of non-primary business activities and functions to a third-party provider. BPO services include payroll, human resources (HR), ac