For SMEs to survive and thrive in a highly competitive market, owners have to be dedicated. In addition, two elements, namely time and money, play a pivotal role in sustaining the lifeline of a company. By being dedicated, SME owners will try to find the best options in maximising productivity at the lowest cost possible—something the practice of Business Process Outsourcing can do.

However, how do you define and understand Business Process Outsourcing? What are its types, benefits, where does the work start? All these and more will be discussed below. Read on.

BPO: A Relationship

Business Process Outsourcing (BPO) is like having a relationship where two parties, your firm & the service provider, start committing to one another—and stay that way in the long run.

Before you make the partnership official, you have to assess which BPO provider elicits better chemistry with you. Do they have the things you need? Are there charming words put into action? If they do, make it official.

You have the option to outsource any outsourcing services the third party might be offering. Services can range from back-office support, virtual assistant, marketing, telemarketing, email support, and accounting and bookkeeping services.

Types

Where do you exactly outsource BPO services? Well, it can come from anywhere. To simplify, there are 3 main types of Business Process Outsourcing practices. A company can choose to do any of the three, depending on their current situation:

  • Offshoring – This is where you outsource services from a BPO company situated abroad,

  • Nearshoring – Outsourcing services from neighbouring countries,

  • Onshoring – The practice of contracting with a company who resides in the same country as you.

Who Can Outsource

Almost every industry can choose to partner with a BPO company. If one BPO company has cost-effective services, that can boost production, then why not? Here are the different industries:

  • E-commerce

  • Financial Industry

  • IT industry

  • Health Care Industry

  • Manufacturing Industry

  • Retail Industry

  • Educational Industries

Benefits

Outsourcing has become a gold mine for business, especially for startups trying their best to catch up with the competition. This practice offers SMEs benefits that are good enough to propel their business further. Our eBook entitled “Get Your Business Going: A Guide to Outsourcing Success” perfectly explains the advantages this practice brings:

  1. Cost-Effective

  2. Acquire World-Class Professionals

  3. Competitive Advantage

  4. Focus on Your Core Tasks

  5. Use the Latest in Tech

  6. Enhance Productivity

Say “YES” to Forward BPO

You deserve the best and nothing less of it. That is why at Forward BPO, we will try our best to be the best partner for you.

We are an Australian BPO company that hosts several cost-effective BPO outsourcing services which you can learn more about through our services page.

Give us a chance to sway you by our “walk the talk” persona by sending us a message here.