BIPO

5.BIPO

Business Process Outsourcing is a novel idea of taking specific business functions, and outsourcing them to professionals, in order to cut costs. Everything from HR to finance, supply chain management and customer support can be outsourced. These specialists don't even have to be in the same city, country, or even the same continent.

Off shore outsourcing is generally done to countries where the costs are the lowest. It advances in IT and communications have made effective BPO possible anywhere in the world. 

BPO can involve outsourcing a wide range of business processes, such as human resources, finance and accounting, customer service, and supply chain management, among others. It can also be performed either domestically, where the service provider is located in the same country as the company, or offshore, where the service provider is located in a different country, often with lower labor costs.

BPO has become a popular strategy for companies looking to reduce costs, improve efficiency, and enhance their competitiveness. However, it also raises concerns about data privacy, security, and the loss of control over important business processes. As a result, companies must carefully evaluate the potential benefits and risks of BPO and choose a service provider that can meet their specific needs and requirements.