business process outsourcing (BPO)
Business Process Outsourcing (BPO) is the practice of hiring a third-party company to handle specific business tasks or processes. This can include functions like customer service, accounting, or human resources. Companies use BPO to reduce costs, focus on their core activities, and access specialized expertise. For example, a company might outsource its call center to a firm that specializes in customer support, allowing the company to improve service while saving money. BPO can be domestic or international, depending on where the services are provided.
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Business Process Outsourcing (BPO) is the practice where companies hire external organizations to handle specific business activities or functions. This can include tasks such as customer service, accounting, or data entry. By outsourcing these processes, businesses can focus on their core operations, reduce costs, and benefit from the expertise of specialized service providers. BPO can be domestic or offshore, enabling companies to take advantage of different labor costs and skill sets globally. Overall, it’s a strategy to improve efficiency and productivity while remaining competitive in the market.