Business Process Outsourcing

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Business Process Outsourcing : For Improved Customer Relationship Management

Business Process Outsourcing is involves contracting of operations and responsibilities of a specific business function to a third-party service provider. BPO services help companies improve customer relationship management. Companies outsource their business processes mainly to concentrate on their core areas so as to increased productivity. BPO companies understand the business’ different needs and work in close association with their clients.

India has revenues of 11 billion US from offshore BPO and 32 billion USD from IT and total BPO. India thus has some 5-6% share of the total BPO Industry, but a commanding 70% share of the offshore component.

Core Services:

• Mail Processing
• Mobile Data Capture
• Tele Marketing Services
• Customer Interaction Services
• Content Development
• Inbound & Outbound call center services
• Web Design-Development
• SEO and PPC Advertising
• Web Based Services

Analysts believe that the growth of Indian outsourcing sector is widely optimistic and predict it will slow down in future. This sector is heavily concentrated on US Processes the dollar depreciates, it can adversely impact the entire sector. Analysts back this belief on American financial meltdown.

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Back Office Process Outsourcing

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Back Office Process Outsourcing

A Back Office is that part of a firm or organization where tasks dedicated to running the company take place. Typically, the back office would be those manufacturing or developing the products or involved in administration with no interaction with the customers. Other tasks include IT departments that keep the phones and computers running, financial accounting, and HR activities. A back-office system will also keep a record of the company’s sales and purchase transactions, and update the inventory as needed apart from producing and maintaining invoices, receipts, and reports. Thus, Back Office Processes are a major contributor to business.

Back Office Processes vary across industries:

1. Banks – amongst other processes deal with the following back office processes :

a. Position Keeping
b. Clearance
c. Settlements

2. Investment Firms

a. Trading Securities
b. Record Keeping
c. Trade Confirmation
d. Trade Settlement &
e. Regulatory Compliance and other related functions

3. Back Office Processes for a general sales oriented company would involve customer-support.

Back offices are not necessarily at the headquarters of a company. They are usually located in places where rent and labor costs are lower. Back office processes can also be outsourced to consultants.