Business Process Outsourcing or BPO

Business Process Outsourcing or BPO plays an important role in the modern business process. On the advancement of Information Technology the Business Process Outsourcing is becoming popular day by day. Many companies of various industries like Insurance, Banking, Telecommunication, Information Technology, Medical Services etc. are outsourcing their some of the critical business functions to external establishments or vendors. Some of the outsourcing activities are as under.

Customer care: Providing information to the clients, technical support and helping the customers in every aspect.
Market Services: Sales and marketing activities are included.
Finance and Accounts services: Financial analysis and accounts of the company.
Loan processing: Processing of bank loan, mortgage etc.
Human Resources Services: Recruitment, training, education are involved
Engineering service: Engineering analysis, project management, product design etc.
Claims processing: Processing of various claims of the clients.
Health care: Medical Transcription, disease management etc.
Logistic services: Invoice collection, transportation, warehousing and inventory control are included.
The Vendors deliver their services with the help of the information technology. By outsourcing the non-core activities of the business the companies are able to concentrate on the core activities of the business.

The developing countries like India, Pakistan, and China are the hub of international Business Process Outsourcing due to severe unemployment problem. In these countries personnel expenses are lower. But the companies can get highly professional skilled personnel in these countries. The big companies from various industries are making profit by taking the advantage of outsourcing. Robust communication infrastructure is an important factor behind rapid growing of BPO industry. Due to Launch of undersea cable the international bandwidth situation improved very much. In near future Business Process Outsourcing is expected to be the biggest opportunity for educated unemployed of developing countries. With the help of BPO the companies of various industries will also make more profit.