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.

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 BPM?

BPM stands for Business Process Management, basically this is about outsourcing the business processes.