Business Process Outsourcing, or BPO, is a focus to streamline non-core activities to increase the growth of a business. While similar principles are in play compared to traditional outsourcing, Business Process Outsourcing services provide more flexibility and greater control, with a stronger focus on integration to improve business relationships.
The growing trend of business process outsourcing services is largely due to the increased role of IT and advancement in technology.
Cloud computing is one prime example of how technology has greatly impacted the growth of outsourcing. Quentin Hardy of Harvard Business Review explains how cloud computing has changed the way data travels, increasing the speed flexibility, and efficiency to collect and analyze data.
Businesses that improve their core operations develop a competitive advantage in their industry, but it is quite common for businesses to lack the resources to do so.
Outsourcing comes into play as an investment towards a business growth solution. Back-end office tasks such as data entry or invoice processing are tedious and redundant but can be easily transformed through an outsourcing team.