Business Process Outsourcing can be defined as the type of outsourcing in which an organization outsources specific business operations to a third-party service provider who can perform such operations on behalf of the customer for a particular cost. This process can include Payroll, HR, document processing, technical support, and marketing. BPO helps a business to save money while focusing on its core activities.
Company executives opt to outsource a business operation for a variety of reasons. The type of organization, its age and size, market demands, and economic conditions all influence these characteristics. Types of Business Process Outsourcing include back-office outsourcing and front-office outsourcing. Based on the location, BPO can be classified in three different forms – Offshore outsourcing, Near-shore outsourcing, and Onshore outsourcing.
Also, See: Business Process Modeling
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