Business Process Outsourcing: Definition, Benefits & Guide

Business Process Outsourcing: Definition, Benefits & Guide

With technology developing at breakneck speed, it’s been getting significantly to communicate and work with teams across the other end of the world. Accordingly, business process outsourcing has been growing in popularity. In fact, according to research by CreditDonkey, over 300,000 of jobs are outsourced from the US annually. Which makes sense – the benefits of process outsourcing are really hard to pass on, since it can result in lowering company expenses by 15% on average.

What is Business Process Outsourcing (BPO)?

Business Process Outsourcing (BPO) is the contracting of a specific business function, such as customer support, marketing, etc. It should not be confused with the concept of outsourcing as a whole, though. The difference is that with BPO, you outsource an entire business function (all of lead generation, for example), rather a single job (think, hiring a VA from a developing country).