Management Glossary

  Search Results: business process outsourcing
business process outsourcing
The contracting of an outside firm to perform business processes that would normally be performed in-house, such as employee benefits administration, accounting, procurement, etc. The theory is that, because the BPO firm specializes in that process (or because it operates somewhere where labor costs are lower), the BPO firm can perform those services at a lower cost than the company purchasing those services. The contracted BPO firm is often offshore in a country with a labor cost advantage, but that is not necessarily the case. Typically abbreviated as BPO.
Contributed by: Managerwise Staff
See: business process outsourcing

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