What is business outsourcing and some examples of it?
Sometimes, giving some of the workloads to a third party company is helpful as it lowers the burden on the employees and ensures that the work is completed. This is known as business process outsourcing (BPO). Here, operations and responsibilities that are non-primary to the company are handed over to another company that will do these jobs for you.
BPO has gained a lot of recognition in recent years. This is because it reduces the burden on the company personnel and increases efficiency while being highly cost-efficient to the company. This also ensures the physical security of the employees as it lessens the workload on them. Some examples and fields where outsourcing takes place on an everyday basis include:
- IT: The Internet is an essential and evident part of today’s world. Every company wants to hire an IT professional, but this may not be ideal, either due to the high salaries that they demand or because of the limited work scope. Hence IT outsourcing is a widespread practice in the business world.
- Accounting: This is an essential part of maintaining a business. But, hiring an accountant may not be cost-effective because not only do they charge highly, they require equipment and software that may cost a lot of money. Outsourcing an accountant to take care of the financial needs may be the best idea for your company.
- Lawyers: Lawyers are required while making a deal of any sort to make sure that nothing illegal occurs and both parties keep the terms of the agreement. But, hiring a lawyer may not be as feasible because their need is not constant, and they also demand a high salary.
- Cleaning: Maintaining proper hygiene and cleanliness in the office area is essential. Finding individuals who do the job to the utmost level is quite tricky. Hence, outsourcing with a professional cleaning company is effective in all ways.
