What is BPO (Business Process Outsourcing)?
Business Process Outsourcing, or BPO, refers to the process of contracting standard business functions to be handled by a party outside of the company. Functions most commonly outsourced include customer service, accounting, payroll and human resources management. Companies can often benefit from implementing the practice of BPO, meaning more flexibility and cost efficiency can be achieved. Third-party providers set up for a dedicated task such as payroll perform more efficiently and are able to transfer those cost savings to their clients.