OffShoring Services

pradeep    BPO SERVICES     Back Office Process Outsourcing, Offshore outsourcing services, OffShoring Services

Off-Shoring Services

Off-shoring is a term which refers to a company relocating its Business Processes from one country to another (mostly cheaper one in terms of rent, labor costs and other related expenses). Operational processes, such as manufacturing, or supporting processes, such as accounting etc are typical offshoring functions.

Offshoring can be seen in the context of either production offshoring or services off-shoring. With advancement in telecommunication, India became the leading player in this domain though other countries are now emerging as favorable offshore destinations.

Offshore Software Services in India is targeted by half of all Fortune 500 companies. Majority of these companies outsource their software development to India. The pillars of Offshore software development in India are Web solutions and Web ware firms, that offer full-fledged e-commerce services.

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Back Office Process Outsourcing

admin    BPO SERVICES     Back Office Process, Back Office Process Outsourcing, Back office services

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.