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Business Process Outsourcing |
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Business Process Outsourcing, or BPO for short, is the outsourcing of an entire business process like accounting, payroll, logistics, etc. Beyond the cost saving and efficiencies, a central benefit of business process outsourcing is that it frees up corporate resources, including scarce personal resources, to focus on the enterprise's core business or competency. As is well known, if business managers have to worry less about non-core functions, they can spend more time on core functions - that is, on functions that deliver real value to the enterprise. Freed from much of their day-to-day tactical responsibilities, they can devote more time and attention to matters affecting the enterprise's long-run business results, including corporate positioning, market penetration, and product development. Gartner Dataquest had forecasted that business process outsourcing will continue to show strong growth despite the economic downturn. Worldwide, business process outsourcing has grown from $19 billion in the year 2000 to $23.4 billion in the year 2005, at a 14.4% compound annual growth rate. Of the various business process outsourcing areas, customer relationship management (CRM) is expected to undergo most rapid growth, projected at over 20% annually by the experts. Business Process Outsourcing has also made very strong inroads into the |
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