Market Insights report
Business Process Outsourcing (BPO) refers to transferring entire business processes or individual activities from a company to a third party and is often IT-based. BPO covers a wide variety of business processes, usually either in the back office, e.g., human resources or in the front office, e.g., customer service in call centers. A distinction is made between horizontal and vertical outsourcing. Horizontal BPO combines function-centric and cross-sector and cross-industry services, such as human resources management or payroll accounting. Vertical BPO, on the other hand, focuses on specialized services and appeals in particular to customers from the financial services industry, the healthcare sector, the manufacturing industry, and the retail sector.
What's included?
The Business Process Outsourcing (BPO) market refers to the transfer of entire business processes or individual activities from a company to a third party and is often IT based. Business Process Outsourcing enables companies to concentrate and focus on core competitive business activities. Driven by efficiency and a growing IT industry, Business Process Outsourcing has grown into a multi-billion-dollar industry. Over the years, reliance on BPO has continued to expand. Advanced technology and analytics are allowing BPO companies to deliver intelligent solutions with better insights and problem-solving for more complex issues. With the development of a qualified workforce, competition among the providers of BPO services, such as in India, China, and Malaysia, is intensifying.
Overview
Overview
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