BPO (Business Process Outsourcing)
The new upcoming development has created the vast opportunities of employment in India, The improved technological support, good educational qualification and highly skilled manpower has created potential for the country to earn the foreign exchange.
The new transformed view of business operations that is cost friendly, consistent in quality, well equipped to handle contingencies is called BPO or Offshore Outsourcing.
Technically BPO contains the transmission of processes along with the associated operational activities and responsibilities, to a third party with at least a guaranteed equal service level and where the client have a firm grip over the (activities of the) vendor for mutual long-term success of both. BPO is positively related to the search for more efficient organizational designs: cost reduction, productivity growth and innovative capabilities. Hence, a source for strategic advantage.
"Business process outsourcing (BPO) is a broad term referring to outsourcing in all fields including the software or infra framework. A BPO differentiates itself by either putting in new technology or applying existing technology in a new way to improve a process."
Driving factors for flourishing BPO in India :
1. Cost Advantage.
2. Economies of Scale.
3. Business Risk Mitigation.
4. Skilled or Competent Manpower.
5. Optimum Utilization.
"An organization entering into a contract with another organization to operate and manage one or more of its business processes or sub processes."
Different Types of Services Being Offered By BPO's:
1.Customer Support Services - Managing customer concerns and queries through multiple channels including voice, e-mail and chat.
2. Technical Support Services - Technical support and problem resolution for computer hardware, software, peripherals and Internet infrastructure manufacturing problems.
3. Telemarketing Services - Interaction with potential customers.
4. Employee IT Help-desk Services - IT help-desk services provide technical problem resolution and support for corporate employees.
5. Insurance Processing - Specialized solutions to the insurance sector and support critical business processes applicable to the industry right from new business acquisition to policy maintenance to claims processing.
6. Data Entry Services / Data Processing Services.
7. Data Conversion Services.
8. Scanning, OCR with Editing & Indexing Services.
9. Book Keeping and Accounting Services.
10. Internet / Online / Web Research.
Challenges for BPO's in India:
1. Brand equity - People still consider BPO to be "low brow", thus making it difficult to attract the best talent.
2. Benchmarks - There are hardly any benchmarks for compensation and benefits, performance or HR policies.
3. Lack of focused training and certifications.
Top BPO's in India:
1. WNS
2. Wipro Spectramind
3. Daksh e-Services
4. Convergys
5. HCL Technologies
6. Zenta
7. ICICI Onesource
8. MphasiS
9. EXL
10. Tracmail
11. GTL Ltd
12. vCustomer
13. HTMT
14. 24/7 Customer
15. Sutherland Technologies
Why people prefer to join BPO's?
1. Did not get a better job.
2. Find nothing better to do.
3. Education level doesn't matter.
4. Good work environment.
5. Good Benefits.
6. Flexibility of time.
7. Attractive life style.
8. Transport facility.
Why people leave the BPO's?
1. No growth opportunity/lack of promotion
2. For higher Salary
3. For Higher education
4. Misguidance by the company
5. Policies and procedures are not conducive
6. No personal life
7. Physical strains 8. Uneasy relationship with peers or managers