What Is The Meaning of Outsourcing / BPO?

Introduction –

           Over the past decades or so, India has emerged as an attractive destination for off-shore outsourcing. Many fortunes 500 companies have either outsourced their processes to India or set up their own captive centers in the country.

Meaning –

1. Outsourcing is contracting with another company or person to do a particular function.
2. The benefit of off-shore outsourcing & particularly software services outsourcing to India are many.
3. Big companies like IBM, Microsoft, Oracle, Cisco, Prudential, Hewlett Packard (HP), Trans Union, Bell South, EDS, GE, Qwest, Dell Computer Support, along with 230 fortune 1000 companies outsource to India.
4. The BPO boom has helped developing countries like India in a major way by creating quality job opportunities in turn benefiting the Indian economy.

Business Process Outsourcing (BPO) :

1. BPO is the process of hiring another company to handle business activities for you.
2. BPO is also referred to as ITES – information technology enabled services, sourcing, global outsourcing, rightsourcing, rightshoring, nearshoring, bestshoring, offshoring.