What benefits does an organisation obtain from BPO services?
Answers
Answer:
Benefits of BPO
Lower costs. One of the main reasons organizations outsource is cost reduction. ...
Higher efficiency. ...
Focus on core business functions. ...
Global expansion. ...
Security issues. ...
Overdependence on the BPO company. ...
Communication problems. ...
Unforeseen or hidden costs.
Explanation:
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Business process outsourcing (BPO) is a type of outsourcing wherein a third-party service provider is employed to carry out one or more business functions in a company. The third party is responsible for carrying out all operations related to the business function.
Benefits of BPO
1. Lower costs
One of the main reasons organizations outsource is cost reduction. Instead of buying IT equipment and hiring more employees to do different tasks, they can outsource the tasks to a service provider, reducing or even eliminating overhead costs.
2. Higher efficiency
BPO companies are experienced in different fields and perform at the highest level. They also adopt best practices and use the latest technology. It naturally results in higher efficiency and greater productivity.
3. Focus on core business functions
Many companies, usually start-ups, encounter a difficult time with ancillary business activities. Transferring non-core processes to a BPO company gives the organization more time to focus on its main business activities.
4. Global expansion
If an organization decides to enter an overseas market, some activities that require local market knowledge, national law expertise, or fluency in a foreign language can be assigned to a BPO company. It helps in boosting efficiency and quicker expansion.
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