Resource Origin: Forbes, J. Kimmel
“The intersection of technology and globalization has changed the way business is done and created new business opportunities in the international marketplace.
Business process outsourcing (BPO) has evolved with time and the rampant innovation in technology. The BPO trend is accelerating. It is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, outsourcing was associated with manufacturing firms, such as Coca-Cola, that outsourced large segments of its supply chain.
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. In addition, other outsourcing segments within the global industry include business services, energy, technology, healthcare and pharmaceuticals, retail, travel and transport, and telecom and media.
The revenue of the global outsourced services industry rose steadily year over year from $45 billion in 2000 to just under $100 billion in 2012.
India is a clear leader in this area, offering a highly skilled, educated, cost effective, English-speaking labor pool. Still, many organizations are understandably apprehensive about having people on the other side of the world support critical business functions. However, some of the best outsourcing providers have mitigated the risk and addresses the concerns that clients may have about placing their work offshore through their innovative project management strategies…”
http://www.forbes.com/sites/greatspeculations/2015/06/22/getting-a-piece-of-business-process-outsourcing/
Contributors: Open SourceCategories: Industry Articles, SIG U Resource
SRC Type: Outsourcing