Business Process Outsourcing (BPO)
BPO
(Business Process Outsourcing) can be defined as a contractual service
to completely manage, deliver, and operate one or more (typically
IT-intensive) business processes or functions.
BPO related processes and functions
could include insurance claims processing to
contact center operations
to payroll processing etc. One way to think of BPO is to
compare it to the functions most organizations include in the General
and Administrative (G&A) category, specifically backoffice and
administrative functions.
Key business processes and functions
that are outsourced and form a large part of the BPO market include:
-
Administrative
-
Finance and
accounting
-
Human resources
-
Payment services
-
Manufacturing
services
-
Distribution
logistics
-
Sales/marketing
-
Customer care
Notable areas to
be outsourced offshore: customer care, accounting, or insurance
claims processing
BPO Segments
Human Resources
- Payroll/Benefits processing
- Training and development
- Hiring/Staffing
- Employee Benefits
- Management
- 401K
Payment Services
- Loan administration
- Credit/Debit Card Services
- Check Processing
Logistics
- Inventory and warehousing
- Industry management
- Order fulfillment/procurement
- Transportation and distribution
Sales, marketing, and
customer care (CRM)
- Customer services
- Customer analysis
- Call centers
- Consumer information services
Finance and
administration
- Document management
- Billings
- Claims processing
- Accounts receivable
- Accounts payable
- General ledger
- Accounting services
- Shareholder services
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