If you don’t know what BPO stands for, it’s Business Process Outsourcing. If you do know what it stands for, you probably still have questions about how it’s different from a call center, and how they can be used together to create the best business process possible.
To answer these questions, we need to look at what makes each of these entities different and how they can be combined to create the best business processes possible. Let’s start with the basics: what does BPO stand for?
Call centers are usually large-scale operations that provide sales and customer support services for companies. But there’s another type of business process outsourcing (BPO) service that may be more suitable for small businesses. Let’s find out more about what it means to outsource your business processes, how much your company can save, and whether or not you qualify.
The Market – Trends and Size
The worldwide outsourcing market, which includes business process outsourcing (BPO), call centers, back office processing and IT services, is estimated to grow at more than 10 percent annually through 2014. By then, according to Forrester Research, a market research firm based in Cambridge, Mass., global revenues will top $370 billion. The U.S.
As service-oriented industries began to expand, so did demand for business process outsourcing. At its core, business process outsourcing (BPO) refers to outsourcing a company’s non-core business processes to another company. Companies are able to focus on their core activities while enabling other companies, also known as service providers or process providers, to carry out these non-core functions. The entire industry is referred to as BPO.
The benefits of outsourcing your business processes to a third-party company are clear, but often companies struggle to find qualified vendors to manage their non-core processes. However, knowing what makes Business Process Outsourcing (BPO) services unique can be confusing. Let’s take a look at what distinguishes outsourced business process management (BPM) services from general call centers.
What Do You Need To Start?
Setting up your own business is easier than you might think. But before you take that first leap into entrepreneurship, take some time to identify what you’ll need to get started. From office space to computers, start-up costs vary—and sometimes range into six figures. Here are several things to keep in mind before you head down that entrepreneurial path
How Does One Get Into This Industry?
There are two main approaches you can take to get into an industry like business process outsourcing (BPO). The first is to build your own company. The second option is to get in as an employee at one of these companies, starting at ground level. Both paths have their advantages and disadvantages, so let’s start with what going solo entails.