You’ve likely heard the term “BPO” before. In fact, this has become quite a popular term in business circles. BPO is actually an acronym for Business Process Outsourcing, which is often referred to simply as outsourcing. This refers to the act of hiring a third party service provider to take care of certain aspects of your business in lieu of an in-house team. Outsourcing has become a common practice among business owners and Internet marketers these days. Among the functions that are commonly outsourced are customer service, technical support, manufacturing, content marketing, and IT processes.
There are several good reasons for business owners and Internet marketers to try their luck in outsourcing. Whenever time-consuming business processes are outsourced, the business owner is left with more time to spend on growing the business. Outsourcing non-core tasks also allows you to focus more on the core processes of your business. Business process outsourcing is also a cost-effective solution, since you only pay the service provider on a per-project basis. This allows you to do away with paying the salaries and bonuses of an in-house team. It is no wonder then, that BPO has become in-demand as a viable business solution in recent years.
It is, of course, important for you to learn the fundamentals of outsourcing before you use it as a solution for your business. Knowing the basics helps ensure that your outsourcing experience goes smoothly. It also places you in the right position to identify the BPO company that can best serve your needs and deliver the kind of results you expect. You have the option of outsourcing your business processes to a company based within your own country or to a company based halfway across the world. The Philippines, for example, is a favorite outsourcing destination of many businesses in the United States and Europe.
Business owners who choose to outsource locally often do so because they feel more comfortable when they can meet the service provider in person. On the other hand, many business owners choose to outsource offshore because this gives them a chance to get the same quality of results at a much lower price range. In general, it doesn’t really matter that much where your outsourcer is located as long as your requirements for the task are met. Among the common reasons why American and European businesses choose to outsource to Philippine-based companies is their proficiency in the English language and expertise in the IT industry.
Subsidies and grants are regularly being provided by different institutions and agencies in the Philippines to aid in the technical and educational development of the country’s BPO sector. The IT-BPO industry is given particular focus and state universities are given huge budgets for their IT programs. Considering this and the fact that English is their medium of instruction, it may indeed be a good idea to hire a Philippine-based BPO company to handle your non-core business processes. BPO is indeed a viable business solution and it is likely to disappear anytime soon.