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Telegenisys.com
Business Process Outsourcing – Top Secrets Revealed
Assigning a particular task associated with a business to another company and paying them if
they show the promised results is called outsourcing. For example, LG electronics will
manufacture goods in Korea and distribute them all over the world. A company in the U.S.
totally non-connected to LG will serve the U.S customers who want to register a complaint
about the LG product they have purchased or know how a certain feature works. There are
millions of people all around the globe in the IT service management industry which provides
such services on a very large scale basis.
Advantages and Disadvantages of BPO Services
As it is usually cheaper to outsource work to developing countries, most high class corporate
companies play with the local employment market. The customers who call the third world
countries are usually annoyed by the totally different accent they hear. Corporate companies
face their competition efficiently with the millions of dollars saved because of outsourcing.
They give the customers a cheaper product with the same quality. They use the money to
expand constantly generating a huge stream of revenue in the form of taxes for the
government.
Industries Highly Dependent on BPO Services
IT companies, medical industry for billing, coding and transcription, Insurance industry to
maintain huge databases, financial industry for getting accounting and tax related services are
all highly dependent on outsourcing for their daily activities.
Relevance of BPO Services
IT service management has grown enormously in the past two decades making it impossible for
massive companies to handle all their work themselves. The way people did business has
changed enormously with the advent of e-commerce. Unknown buyers and totally clueless
sellers are all connected by one thread, the customer service executive. The world has
transformed into a highly dense web where one node cannot survive without the help of its
interconnecting ones. Business process outsourcing acts as the thread connecting the different
nodes.
A person no longer needs to own a physical shop or manufacture goods in the modern market
to do business. They can simply invest their money and outsource all other activities in e-
commerce from promotion to maintaining the online shopping website. Business process
outsourcing has mingled so closely with the livelihood of both the developing and the
developed countries that it can no longer be curbed or eliminated.
Gone are the day’s people picked up their tools and fixed the issues or just called the local
handymen to get the work done. Be it a child playing a video game or a mother calling a
plumbing service and a father trying to pay the bills online, there is an outsourcing company
working as middlemen handling their queries and directing it towards the relevant people. The
world has become fast, organized and digital. The businesses have changed and evolved with it.
IT service management is an important part of that change as it fuels such changes. With the
increasing population and the ever growing corporate company sizes it becomes necessary to
provide everyone with a job and outsourcing is a great way to do it.