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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 .
BPO vendor charges are project-based or fee-for-service, using business models such as remote in-sourcing or similar software development and outsourcing models. [ 190 ] [ 191 ] This can help a company to become more flexible by transforming fixed into variable costs . [ 192 ]
SourceHOV offers workflow management system and business process outsourcing (BPO) solutions [buzzword] that enable companies to automate complex, data-intensive transactions. The company's business transaction management services include accounts management, financial, healthcare, insurance and risk management services.
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.
Outsource Partners International (OPI) is an outsourcing company specializing in finance and accounting outsourcing (FAO) services. The company was originally established in 2002 through the acquisition of a big four accounting firm's (KPMG) Business Process Outsourcing (BPO) division and itAccounts.
Body shopping is the practice of consultancy firms recruiting workers (generally in the information technology sector) in order to contract their services out on a tactical short- to mid-term basis.
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