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Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
As of 2021, revenue of Indian BPO industry was estimated at US$ 38 billion. [2] Government of India has launched India BPO Promotion Scheme (IBPS) as part of Digital India initiative to encourage job creation in Tier-2 and Tier-3 cities. [3] [4] India's BPO Industry handles 56% of the world's business process outsourcing.
The BPO industry in the Philippines generated $26.7 billion in revenues in 2020, [212] while around 700 thousand medium and high skill jobs would be created by 2022. [ 213 ] In 2015, official statistics put the size of the total outsourcing industry in China, including not only the BPO industry but also IT outsourcing services, at $130.9 billion.
In 2006, its employee strength reached 10,000 and its name was changed from Progeon Limited to Infosys BPO Limited. It was renamed to Infosys BPM Limited in 2018. [5] In 2019, Infosys BPM formed a joint venture with Hitachi, Panasonic and Pasona. Infosys took an 81% stake in the new company, HIPUS Co. Ltd, which was aimed at providing digital ...
Banking business process outsourcing or banking BPO is a highly specialized sourcing strategy employed by banks and lending institutions to facilitate the business acquisition and account servicing activities linked with the customer lending lifecycle.
Although the operations of a back office are seldom prominent, they are a major contributor to a business's success. [1] They can include functions such as accounting, planning, inventory management, supply-chain management, human resources and logistics. [2] Back offices are often located somewhere other than company headquarters. Many are in ...
Also in the same year, a US-based outsourcing center called the "People Support" moved its operations to the Philippines, generating 8,400 jobs for the country. Bong Borja, its CEO, became president of the BPO Association of the Philippines. In 2003, the Convergys Corporation opened up two more call centers in the Philippines. It was at this ...
In software development, frontend refers to the presentation layer that users interact with, while backend involves the data management and processing behind the scenes. In the client–server model , the client is usually considered the frontend, handling user-facing tasks, and the server is the backend, managing data and logic.
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