BPO is a short form of business process outsourcing which is technically a subdivision of outsourcing. To understand what business process outsourcing (BPO) means, we must first have a clear picture of the term outsourcing.
Outsourcing is a business term which involves a third party company or individual to carry out the work initially meant for you. I will explain this in simpler terms. If you need your company website to be designed, you do not have to employ a new staff just for the website designing work. You can rather employ an individual or company that majors in website designing to offer the service to you and are then paid just for the service rendered without any need to keep them beyond the agreed day of the service or to continue paying them while they are not offering you any service. From my basic explanation, you will realize the person offering the service is a third party to the company; he is not regarded as a staff of the organization.
Outsourcing remains a general term for any activity given out by you to a third party while Business process outsourcing is a type of outsourcing that is primarily concerned with activities that helps in improving the business experience or saves money or time while improving the efficiency o business. There are, however, those who opined both terms can be used interchangeably. Well, if you look at it holistically, you will see that both terms are closely related but not all-inclusive. If you often hear people saying My Bpo Business WordPress and you are not so sure what types of businesses they are referring to, then you are on the right page.
Classification of BPO services
Business process outsourcing can be divided into two broad categories which includes
Horizontal BPO: This involves a BPO service that can be carried out across different fields with no demand for knowledge of a single specialty. A common example includes Sales and Marketing, Finance and accounting etc.
Vertical BPO: This is used to refer to services which require knowledge of a specific field which is usually provided in a specific industry. Examples include healthcare and investment management.
Benefits of BPO business
There is no reason why you should do what you do not understand the benefits. Hence, it does not suffice you know what business process outsourcing mean; you must be able to see what likely benefits it will offer you
- Cost saving: one of the basic reason that led to the birth of business process outsourcing is the need to maximize benefits. What companies do is transfer a job to a freelancer or a fellow company who can do the job more efficiently than them at a reduced cost. Since most of these jobs are usually voluminous; companies are able to get service at a reduced cost, thereby eventually leading to reduced cost of service and more profits for the outsourcing company.
- Knowledge: Business outsourcing has also been away companies have been able to gain new knowledge from sister companies. Since the work is usually handled by companies or individuals who have some form of expertise; companies sometimes use outsourcing to gain access to new knowledge.
- Less permanent staffs: with the advent of outsourcing as a business options, companies no longer need to hire individuals with skills needed o part-time basis. Advent to BPO, companies hire staffs for roles that are seasonal and place them on salary. This is no longer the case, as experts can be hired at the time of need without additional salaries for work days with no service. It also helps the company to trim staff number; since only the staffs that serve daily functions are kept as permanent staffs. This has helped in improving companies output.
- More reward for skills: business outsourcing also ensures people are adequately paid for their skills. It is easier to joggle between jobs working as a freelancer than being on a permanent employment. High skills individuals find this more rewarding as they can offer their service to whom so ever needs it without fair of been tied down by a primary work demand.
- The best skill is put into use: for the reason that most staffs are paid the same wages or salary monthly irrespective of what their monthly output is, limit them from offering their best. When people are aware they can make demands base on what they offer, they tend to improve output which is also of advantage to the outsourcing company.
Anyhow you look at it, you will discover business process outsourcing is a win-win for all parties involves. I expect you to be asking now “what is my bpo business careers?
What is my BPO Business jobs ?
Your BPO Business jobs include the following
Website design: There are a lot of BPO companies who specialize in offering services like website design for bigger companies. Their service might also be included to cover search engine optimization (SEO). A company like an health or social service sectors needs not to have a permanent staff to help in their website design; it is easier, cheaper and more effective to offer the service to a website design company
Transcription services: This helps in offering professional languages of firms to simpler terms for the general understanding. Other common services include content generating and data entry services.