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Outsourcing: Business Process Outsourcing
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Outsourcing is a trend and a business strategy whereby a firm does not handle certain projects, functions or business processes internally. Instead, it trains another group, often in another country, which will handle those tasks. Or else, it hands over these processes to a group of people that is already skilled at handling them. Inevitably, when a task is outsourced, it will mean some jobs being lost and some jobs being gained.
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Outsourcing is a strategic management model [T]ransferring business processes to another company. The concept is to have the management and/or day-to-day execution of one or more business functions performed by a third party service provider, who is insourcing those same processes. Outsourcing occurs when a company uses an outside firm to provide a necessary business function that might otherwise be done in-house. Its aim is mostly to make an organization more competitive by staying focused on its core competencies.
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Business Process Outsourcing, outsourced contract manufacturing and the proliferation of RFID technology is fueling the need for companies to engage in "real-time" information sharing across enterprise boundaries. Through information sharing, companies are able to respond to market demand, eliminate value chain misalignments, decrease costs and improve operational efficiencies. Tags: Value Chain, Business Ecosystem, Business Structures, Channel Management, Business Process Outsourcing (BPO), Outsourcing, Finance, Marketing, It Operations, Business Operations, Outsourcing & Subcontracting Webcasts
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BOSTON, Jan. 10 /PRNewswire/ -- NelsonHall, the leading independent Business Process Outsourcing (BPO) analyst firm, today announced the results of its "BPO Index" market monitor for 2007. NelsonHall's BPO Index for 2007 shows that the BPO market is prospering with year-on-year TCV (total contract value) growth of 147 percent and that the leading indicators for BPO in 2008 are strong.
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Consolidation in the Utility Industry - For many utility executives, Business Process Outsourcing can be the answer to successful M&As, leading to reduced risk, locked-in ROIC, investor confidence and long-term shareholder value. - July 2007
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Outsourcing is "the transfer or delegation to an external service provider the operation and day-to-day management of a business process. The customer receives a service that performs a distinct business function that fits into the customer's overall business operations.[1]
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Business Process Outsourcing