Business Process Outsourcing is a process of outsourcing any specific business functions to third party which involves operations and responsibilities of business
Most of the companies gets benefits which can fetch by Business Process outsourcing is more than one business process to other companies are
1. Flexibility - by outsourcing their business processes one can gain not only flexibility in terms of expenditure but also in terms of time flexibility and quality control and so on which is a very important aspect to do business globally.
2. Revenue generation - BPO services are the most efficient medium to curb the cost and earn more revenue, because when a company outsourcing their process they have to pay much less to the third party in comparison to when recruiting in-house staffs in the company.
And another aspect of saving money is that a firm can hire now firms/people from developing countries to do their processes and that leads to less spending of money because due to the variance in exchange rates.
3. Price reducing - as the company has to undertake less expenses due to the staff salary and infrastructure so it can lower the prices of its products and that directly affects the revenue of the firm.
4. Better client service - with the help of Business Process Outsourcing a company can serve better to its clients and provide round clock services and post sales services with spending less amount of money.
So it creates a positive impact on the goodwill of the business house as a whole.
5. Employment creation - last but not the least benefits is which a BPO process can offer is more job creation within the country of the origin of the business and even in the other places.
So empowering the society with new job creation is also help to improve the CSR of the company.