Essay from the year 2016 in the subject Business economics - Miscellaneous, , language: English, abstract: This Essay seeks to make the case for the Business Process Outsourcing Strategy (BPO) as the new dawn in the business world underpinned by cost minimization. The essay examines the history of Business Process Outsourcing, the drivers of this strategy, the decision making process, the critical success factors and the BPO benefits and risks that Managers are likely to encounter in embracing BPO as strategy that gives the business the much needed impetus against competitors and mitigation mechanisms of these risks.
Many corporations are currently restructuring their business processes in order to become more competitive and cost effective. Once the decision has been made to outsource, a corporation must structure the deal. This book will show them how to request proposals and negotiate and close the agreement--creating the outsourcing strategy.
"This book covers a wide range of topics involved in the outsourcing of information technology through state-of-the-art collaborations of international field experts"--Provided by publisher.
BPO (business process outsourcing) is a business activity in which a company hires an outside service provider to complete a critical business task. Typically, an organisation begins by identifying a process that is required for its operations but not part of its core value proposition in the market; this phase necessitates a thorough understanding of the organization's processes as well as effective business process management. Payroll and accounting processes, for example, are suitable for BPO since they are conducted the same or similarly from company to firm. Because these commodity operations don't usually distinguish one company from another, business leaders often decide that having their own employees conduct them isn't worth it. Companies believe that outsourcing these procedures to a business that specialises in them will produce better outcomes. The origins of BPO can be traced back to the manufacturing industry. After determining that third-party vendors could offer more skills, speed, and cost efficiency to the process than an in-house team could, manufacturers hired them to handle aspects of their supply chains. Organizations in other industries eventually embraced the practise. Organizations of many types — for-profit enterprises, nonprofits, and even government agencies — now contract with BPO service providers in the United States, throughout North America, and around the world to conduct a variety of tasks. What is the purpose of BPO? Business process outsourcing is used by companies for two types of tasks: back-office and front-office operations. Accounting, information technology (IT) services, human resources (HR), quality assurance, and payment processing are examples of back-office tasks, sometimes known as internal business functions. Customer service, marketing, and sales are all examples of front-office tasks. BPO contracts can entail outsourcing a whole functional area to a single vendor, such as the HR department. Specific processes within a functional area are frequently outsourced by companies. For example, a company might outsource payroll yet handle all other HR functions in-house.
Business Process Outsourcing (BPO) is becoming the new revolutionas company's of all sizes are seeking to take advantage of thissource of competitive advantage. This book provides a step-by-step approach to understanding theapplication of Business Process Outsourcing, assessing the BPOopportunity in the company, and then managing the transition toBPO. It serves as a guide to implementing BPO and as a referencesource to solving the variety of issues that may arise during a BPOinitiative. Each chapter features a case study, insight from apractitioner, focus on how BPO affects people, and ethicalconsiderations. * Discusses both the how and why of business process outsourcingwith a straightforward "how to" approach. * Provides managers with the tools to analyse the BPO opportunitiesfor their own firms, as well as techniques and strategies formanaging a BPO initiative. * Empowers businesses of all sizes to take advantage of thisall-encompassing business revolution.
This book is a comprehensive presentation of the fundamental concepts of business process outsourcing (BPO) and its applications in the Indian industrial context. It offers a strategic framework for BPO management, which is crucial for creating competitive advantage for a business enterprise. The book is designed for MBA and PGDM students as well as students in BPO training schools and executives in BPO sector. The text, organized into sixteen chapters, contains a wealth of useful and practical information on the following facets of the BPO industry : Strategic, tactical, control and operational aspects of BPO administration BPO business models Regulatory and legal framework of the BPO industry Terms, conditions, responsibilities and obligations involved in the BPO contract and service level agreement Service issues regarding supplier selection and process quality Criteria for performance evaluation of service providers Challenges involving upward shift in service value chain as well as human resource management Chapter-end review questions help in easy comprehension of the underlying principles. The appendices contain important additional information about the BPO industry.
This book will provide the fundamentals of business process outsourcing for the busy executive who needs to get up to speed. It will have such features as checklists, tips and techniques, and case studies. * Written in a user friendly style that allows senior level financial executives to get a solid foundation of what business process outsourcing is and how it can benefit their companies. * Provides managers with the tools to analyse the BPO opportunities for their own firms, as well as techniques and strategies for managing a BPO initiative. * Shows managers how a BPO strategy can save the company money and create jobs domestically. * Both authors are consultants and advisers to industry-leading companies and frequent speakers at business forums and conferences.
"This 4-volume set provides a compendium of comprehensive advanced research articles written by an international collaboration of experts involved with the strategic use of information systems"--Provided by publisher.
