Business
Process Outsourcing (BPO) is the practice of using a third party, contracted to
perform specific, specialized process on a company's behalf.
BPO is typically categorized into back office outsourcing and front office outsourcing. Back office outsourcing, which includes internal business such as human resources or finance and accounting. Front office outsourcing includes call center services.
BPO is about optimizing business performance to attain value creation. BPO provides quantifiable benefits through flexibility, improved efficiencies, focus on core business, lower overhead, reduced payroll and benefit expenses, and fewer capital investments.
BPO is typically categorized into back office outsourcing and front office outsourcing. Back office outsourcing, which includes internal business such as human resources or finance and accounting. Front office outsourcing includes call center services.
BPO is about optimizing business performance to attain value creation. BPO provides quantifiable benefits through flexibility, improved efficiencies, focus on core business, lower overhead, reduced payroll and benefit expenses, and fewer capital investments.
Business process outsourcing (BPO) is the delegation of one or more
IT-intensive business processes to an external provider that, in turn, owns,
administrates and manages the selected processes based on defined and
measurable performance metrics. BPO offerings are categorized in two major
categories: horizontal offerings (those that can be advantage across specific
industries) and vertical-specific offerings (those that demand specific
industry vertical process knowledge).
The
intersection of technology and globalization has changed the way business is
done and created new business opportunities in the international marketplace.
Business process outsourcing (BPO) has
evolved with time and the strong innovation in technology. The BPO trend is very
quick. It is a subset of outsourcing that involves the contracting of the
operations and responsibilities of a specific business process to a third-party
service provider. Originally, outsourcing was associated with manufacturing
firms that outsourced large segments of their supply chain.
BPO is typically categorized into back
office outsourcing, which includes internal business functions such as human
resources or finance, web or application development and accounting, and front
office outsourcing, which includes customer-related services such as contact
center services. In addition, other outsourcing segments within the global
industry include business services, energy, technology, healthcare and
pharmaceuticals, retail, travel and transport, and telecom and media.
If you have your accounts to be done from an
accounting firm can be a beneficial one. If you are new to this concept then in
brief, it is having the task done from someone usually the professional at
their office and at their convenience. The task will not be done in your office
and therefore it is easier for you to manage other task and focus more on the
things that matter to you. The following are some of the advantages.
Cost Saving
When the company accounts are being done through an accounting firm, you
do not need to hire an in house full time accountant. You can save on the
monthly salary which usually cost around 25000 onwards for an accountant.
Besides that, you do not have to worry when you’re in house accountant decides
to resign or even apply sick leave or annual leave. When you outsource the
task, the accounting firm will work on your accounts and completed within the specify
time. The responsibility of the work to be done is on the accounting firm. If
you are a cost understanding person, then you wouldn’t mind having your
accounts done by an outsource accounting firm.
Time Management
For small business or newly Startup Company, it
is understandably that the owner will try doing everything by its own. This can
be due to budget constraints on employing or there is no need to. However, possibly
in term of business sense, the owner should make good uses of its time in
increasing the performance of the business. Time spent on non-profiting
process, should be minimize. And one of it has to do data entry in the accounting
system. This process can be outsourcing to an accounting firm. In fact the
return of investment is higher, if you can generate more profit when you have
more time for yourself. And by outsourcing, it gives you more time to focus on
important matters. Additionally, you do not have to worry about due dates and
then suffer late filing penalty. This in fact is a very good point to list out,
as time is money.
Benefit of Getting Expert Service
For some cases, company may not be able to hire someone with all the
expertise. For example, the company hires an accountant to handle the daily
transactions. However, the accountant only knows how to do accounting but do
not have the expertise to do business grants or maybe even taxation. So it is quite difficult to
hire someone with all the expertise. In this case, you can seek professional
help through an accounting firm. When you engage the accounting firm, you can
rest assured that the company is aligned with regulations ability to solve your inquiry.
Manage workflow promptly
Although we always highlight multitasking in
the job description, employee might not be able to cope with stress due to
overloading of work and lack of knowledge to perform. Nevertheless when you
have your accounts outsourced, you can allow your staff to focus on other works
that are more critical during that period. For some company, they usually don’t
do the accounts until it is reaching the filing due date. During that period,
they will find the employees to work on it and thus making the work difficult.
Moreover the work done might not be accurate or ethical. To prevent such
incident, business owner should start planning earlier.
Task is done professionally
When the task is assigned to an accounting
firm, the task would be done professionally. This would be beneficial as the
company may not be able to hire a professional on monthly salary basis.
Therefore the professional will be the person doing your accounts in the
accounting firm. Normally the task will go through checks and reviews before submitting
to the company for approval. You actually get the best of both worlds, having a
professional and also higher standard of work completion.
Mainly
this process of BPO involve offshore preferably companies based in another
country providing the services. These days American and European clients/firms
constantly outsourcing BPO and call center activities to Pakistan as the
country distinctly developing in IT industry. ESOLPK's technology driven
services deliver BPO, outsourcing and consultancy facilities to many customers
in different countries.
Outsourcing BPO services to Pakistan is popular practice in today's competitive
environment. The BPO industry in Pakistan is constantly growing. By keeping in
focus of the competition, we are consistently climbing stairs by hiring
professionals, increased services circle and viewing quality assurance at every
stage for client satisfaction, at very lower rates.
All
together from Outsourcing financial, administration (F&A) processes, human
resources (HR) functions, BPO services, customer at support service activities
to accounting and payroll processes. ESOLPK is well equipped to handle its
clients all business needs for providing successful ideal results.
ESOLPK is a trend-setter among business process outsourcing companies
in Pakistan. We have cutting edge technology and robust infrastructure to
manage all our projects efficiently. We deliver versatile and proven Business
Process Outsourcing solutions in Pakistan that alliance various aspects of
enterprise to give a single view of business. ESOLPK is the best one stop
business process outsourcing firm for all outsourcing requirements. All you
need to do is experience us.
