BPO Companies-the Latest Business Trend
The world of business has dramatically changed and
continues to rapidly change every single day. What we
know today can only last for a few months or years, if
we are lucky. What we know yesterday might as well be
considered a thing of the past tomorrow. That is how
fast the business world is changing. So companies all
over the globe have to learn to adapt and do it fast.
Before, the business trend is to be a
jack-of-all-trades. To be successful, a business has
to have everything a client needs in one roof-a
one-stop shop. And companies of olden times try to do
just that.
Hire all the kinds of personnel they need for every
department in their company. However, that is a thing
of the past now. The economic market today requires
specialization. Consumers want to have every product
or service tailored to their particular need.
Consumers don’t want generic products anymore.
They want special treatment and the best of quality
service they can get. So, having everything under a
company’s roof does not seem useful anymore. Keeping
all business processes under one roof now proves not
only to be costly but impractical as well.
This is because monitoring each and every one of them
to ensure the best quality is served and tailored to
every client need has become tedious and almost
impossible. Keeping experts in-house is also proved to
be expensive in the long run.
The need for specialization and focus on the company’s
real core business has spun the trend of hiring
Business Process Outsourcing companies, or what is
more popularly known as BPO. Business process
outsourcing companies have now sprouted and
proliferated in countries where labor cost is not so
expensive, such as China, India and the Philippines,
and lately, the Middle East.
BPO companies in these countries and region provide
services to bigger, more often multi-national,
companies that want to focus on their core business
processes so they just delegate generic tasks, or
processes that are of lesser importance, to outside
provider or supplier of services.
The philosophy of companies these days is to “…do
what they do best and outsource the rest.” And it is a
very sensible philosophy at that. And more and more
companies are catching on it.
The list of services that are most commonly outsourced
include, HR solutions, Accounting and Financial
Services, Customer Care Services, Call Centers, IT
Help Desk Services, Marketing tools and solutions, and
other nitty-gritty details that most companies want to
be free of.
These are necessary business processes-yes, that is
true. However, companies now realize that it is more
practical to delegate these tasks and focus on sales
or production, or whatever their company is all about.
In India and Philippines, more and more BPO companies
are establishing business centers in their
territories, capitalizing on the affordable workforce
cost and the abundant supply of highly-trained trained
professionals. The Middle East has also become one of
the newest hub for BPO companies for its multi-lingual
populace and its strategic location, giving it a
favorable time zone. Added attraction for this region
is the possibilities for oil investments and business
expansion opportunities.
In India, you can find the following successful
business process outsourcing companies: Accenture;
Convergys; HCL BPO; Genpact; GE India; IBM Daksh; TCS
BPO; Transworks; Wipro BPO; and WNS Global Services.
Meanwhile, the Philippines’ list of BPO companies
includes companies from the United Kingdom, the United
States and Japan.
