Business Process Outsourcing, or also known as BPO, is the process of contracting a specific business task to a third party service provider. BPO is usually implemented as a cost-saving measure for tasks that a company requires. However it does not depend upon to maintain their position in the marketplace.
Business process outsourcing was once the domain of big businesses with big budgets and big needs. Usually, it referred to “big” processes, too, like manufacturing on a grand scale.
Furthermore, Business Process Outsourcing was also commonly associated with the controversial practice of offshoring, or the process where a business would engage in the process of outsourcing its needs to BPO solution providers in developing nations.
Nowadays due to the advent of the internet and advancement in technology, BPO is no longer just for large companies. Small and medium businesses have become a rapidly growing part of the business process outsourcing space. In fact, even home-based businesses are waking up to and taking advantage of the benefits of business process outsourcing.
Unlike in the past, only those with big budgets and big needs require BPO. The BPO solution of today is now so scalable that a huge number of BPO projects are really nothing more than basic tasks that commonly consist of only a few hours of work.
Read this article to learn more about BPO: http://searchcio.techtarget.com/definition/business-process-outsourcing