Key Takeaways Business process outsourcing BPO utilizes third-party vendors or subcontractors to carry out certain parts of their business operations. BPO began with large manufacturing companies to aid with supply chain management, but today BPO has grown to include all sorts of sectors, including services companies.
BPO will be considered "offshore outsourcing" if the vendor or subcontractor is located in a different country; for instance, in the case of customer support. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
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Why Companies Use Outsourcing Outsourcing is a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally. What You Need to Know About In-House Activities In-house refers to conducting an activity or operation within a company, instead of relying on outsourcing.
How Operations Management OM Works Operations management OM is the administration of business practices to create the highest level of efficiency possible within an organization. What Is Reshoring? Reshoring is the process of returning the production and manufacturing of goods back to the company's original country. What Are Factors of Production? Factors of production are the inputs needed for the creation of a good or service, these include labor, entrepreneurship, and capital.
Partner Links. Related Articles. Financial Technology The Future of Fintech. Business Essentials Value Chain vs. Remote Control. Business Technologist. Experience Information Technology conferences Join your peers for the unveiling of the latest insights at Gartner conferences.
View Conferences. Gartner Webinars Expert insights and strategies to address your priorities and solve your most pressing challenges. View Webinars. Free Newsletter for Executives Get objective, actionable insights — plus invitations to events. For example, if a third party company is providing people to demo products and services or engaging in customer interactions on behalf of the client, what will that look like to the customer?
Will the front line worker be identified with the client or with the third-party service provider, or both? By: Justin Stoltzfus Contributor, Reviewer. By: Satish Balakrishnan. Dictionary Dictionary Term of the Day.
Natural Language Processing. Techopedia Terms. Connect with us. Sign up. Term of the Day. Best of Techopedia weekly. Quality — On another, more practical note, when it comes to business process outsourcing, you tend to get what you pay for.
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