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For a layman today, the simple meaning of Business Process Outsourcing is a fun-filled working environment with lucrative moolah. From a professional point of view, business process outsourcing is an outsourcing subset, which incorporates operations and duties of a particular business process to a service provider that is a third party. There are two branches of business process outsourcing. 1) The first one is Back office outsourcing that covers internal business functions like finance, human resources and accounting. 2) Front office outsourcing, the second branch of business process outsourcing involves customer-centered services. A contact service centre is an example of customer-oriented services. The business services that deal with the information technology are well known as ITES (Information Technology Enabled Service). These services are categorized into two divisions, Knowledge Process Outsourcing, commonly known as KPO and Legal Process Outsourcing (LPO). Today, a new happening trend is growing in the form of offshore outsourcing. It means getting the work done from any service provider that is offshore outsourcing. It is becoming increasingly recognizable phenomenon. Presently, the jobs that are outsourced generally include some of the critical ones such as IT services, web design and graphic design services, customer care, etc. In fact, outsourcing is done for every possible business service. As the treacherous companies flourish in the market, the agencies need to be extra careful when it comes to selecting an offshore business service provider. While choosing such service provider, the agencies should look for the financial background of the offshore service provider. It is also important to look for the quality standards and certification. The other significant factor that demands attention is the presence of the skilled workforce. If it is not available, it is essential to ask whether they are able to offer training facilities. This kind of outsourcing proves beneficial especially in the critical situations such as recession. The agencies can earn adequate revenues by cutting down the costs and saving money as much as possible. The business process outsourcing best benefits the overseas corporations. Business process outsourcing enables the overseas companies to concentrate on their core business services and processes. This is the main part that lures foreign companies to search for more business process outsourcing partners in the other countries. Varieties of services of offshore outsourcing are offered by today's business process outsourcing companies. Some of them include telecommunications, finance, and accounting, services related to software development and information technology. Several Europe and US based companies earn huge benefit by outsourcing the non-core works of their companies from the countries like Philippines, China, and India. One of the reasons for such outsourcing is that, these countries have no dearth of skilled workforce. Moreover, these countries are known for maintaining quality of international standards. Most of the jobs that are outsourced are the works to be performed on a regular basis. Offshore outsourcing service provider carries out the jobs such as training new candidates and making advertisements. As so many advantages are offered by business process outsourcing, this industry is seeing golden days today. From all these details, a fact is definitely evident that outsourcing industry is in full swing and possesses the potential to flourish in future. Author Bio:- Sumit Srivastava is an online marketing expert with more than 6 years of experience in 360 degree online marketing with a passion for innovation & brand strategy, digital marketing, capital markets services, business process outsourcing, KPO, LPO, social media, seo and web analytics.
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