Business Process Outsourcing
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A Business Process Outsourcing is an business process reengineering that uses outsourcing.
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- Counter-Example(s):
- See: Back Office, Human Resources, Finance, Accounting, Front Office, Contact Centre (Business).
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/business_process_outsourcing Retrieved:2015-6-25.
- Business process outsourcing (BPO) 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, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments of its supply chain. [1] 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 centre services. BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighbouring (or nearby) country is called nearshore outsourcing. Often the business processes are information technology-based, and are referred to as ITES-BPO, where ITES stands for Information Technology Enabled Service. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO) are some of the sub-segments of business process outsourcing industry. In 2010, the Philippines surpassed India as the largest business process outsourcing industry in the world.[2] [3] After growing 20 percent in 2012, the BPO industry of the Philippines is estimated to gross revenue of upwards to $25 billion by 2016. By these estimates, the Philippines' BPO industry will account for approximately 10 percent of the nation's GDP.
- ↑ Tas, J. & Sunder, S. 2004, Financial Services Business Process Outsourcing, Communications of the ACM, Vol 47, No. 5
- ↑ Balana, Cynthia D. and Lawrence de Guzman. (December 5, 2010). It's official: Philippines bests India as No. 1 in BPO. The Philippine Daily Inquirer.
- ↑ http://www.gmanetwork.com/news/story/63053/economy/companies/philippines-still-top-bpo-destination-consulting-firm
2014
- http://www.investopedia.com/terms/b/business-process-outsourcing.asp
- QUOTE: A method of subcontracting various business-related operations to a third party. When business process outsourcing began, it applied chiefly to manufacturing entities, such as soft drink manufacturers. However, it is now applicable to the outsourcing of services.