What are the benefits of BPO (Business Process Outsourcing) in India? Benefits derived from BPO in India can be summarized as follows:
Productivity Improvements
Access to expertise
Operational cost control
Cost savings
Improved accountability
Improved HR
Opportunity to focus on core business
What does BPO stand for? What does it mean? BPO stands for Business Process Outsourcing. Major corporations in the US and Europe are outsourcing their back office operations to India to save costs. E.g. employee payroll is maintained in India for their employees worldwide. Although these jobs usually are not directly IT-related, their data-based orientation often means that they require IT departmental support to be successfully outsourced.
What does ITES stand for? What does it mean? ITES stands for IT-enabled services. IT-enabled outsourcing can be defined as,
Those outsourcing services that use information technology in the processing and delivery of the service.
Services are typically delivered through a telecommunications or data network, or other electronic media
What are the reasons for outsourcing?
Reason Savings
Cost reduction
43%
Focus
35%
Access to special enterprise
32%
Resource related reasons{relieve resource constraints, reduce IT staff and augment IT staff}
51%
What exactly does the BPO market comprise of? There is a disagreement as to what exactly constitutes BPO. With the rapid expansion of the BPO industry and the extent of its reach, it is becoming increasingly difficult to define what a BPO exactly means. It encompasses a wide variety of activities such as human resource, accounting, financial research, marketing, sales, legal work, logistics and so on. Software services are also regarded as a part of the BPO market by many firms.
What is HIPAA? HIPAA stands for Health Insurance Portability and Accountability Act. The US healthcare industry has been interested in simplifying administrative processes and improving efficiency for several decades. The industry leaders concluded that greater standardization of data and transactions was necessary to improve efficiencies. This conclusion was subsequently memorialized by specific administrative simplification language included in the healthcare legislation called the HIPAA.
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