Often the term used for contracting the part of its work to another company or person. Partners in such work / Job will be mainly executing the ‘Non-Core’ functions of the projects. Given the proximity of BPO to the information technology industry, it is also categorized as an information technology enabled service or ITES.
Many Sub-segments in BPO sector have evolved making the industry wider beyond imagination. Started with a Data-processing, today the term BPO has spread to every kind of functions even in the non-IT sectors also. A lot of innovative solutions and positive approach grabbed the opportunity and changed dramatically to transform the sector into “Major”.
Outsourcing has enormous benefits few of which are as mentioned- Save Time, Effort, Resources and Infrastructure, Reduction in Capital and labor costs, benefits of hiring highly skilled professionals and gain access to the best and the latest technology without having to invest, gain a competitive edge with time zone difference and complete large volumes of work.
The Indian IT and ITES industries remain on a growth path, emerging as one of the key investment markets in the country. The affluent skilled manpower has made India a target place for multinationals to back end their operations.