Having the luxury of focusing on your core while you can leave the adjacent areas for someone more fast, cost-effective and proficient – well, that is, indeed, a luxury.
At Vuesol, outsourcing is always spelled as a partnership. It is a privilege where we assume complete responsibility and a more-than-superficial stake in the contours of the relationship. We not only undertake to run processes at a cost or resource arbitrage; but also infuse this equation with the utmost accountability, ownership, and transformation.
Our emphasis is on making adjunct processes work smoothly so that your attention and power is injected into the central levers of the business. But when we do so, we also make those processes turn from challenges to advantages that fuel your overall business strategy and competitive advantage.
With our diversified and globally-spread resources, tested-and-proven capabilities and catalytic competencies, we make process outsourcing a new experience for your business and bottom lines.
Business Process Outsourcing (BPO) is the transfer of one or more IT-intensive business processes to a third party, which then owns, administers, and maintains the chosen processes according to predetermined and quantifiable performance goals.
There are three types of Business Process Outsourcing:
1. Offshore BPO means hiring a foreign company to run a business function. For example, a company in the United States may hire a BPO company in the Philippines.
2. Nearshore outsourcing means hiring a BPO company in a nearby country, such as a Canadian company to a U.S. Outsourcing Company.
3. Domestic or Onshore BPO refers to hiring a company within the company’s home country.
The advantages of business process outsourcing are as follows:
1. Additional Operational Flexibility: Your staff can concentrate solely on core competencies by outsourcing non-core competence business operations like marketing and HR. As a result, they have more time to think creatively and adjust their job.
2. Cost Reduction: Many BPO firms operate or hire people from countries with low corporate income tax and living standards. The money saved by hiring workers from other countries is often transferred to the companies that outsource through them. Hiring a BPO company can also save money on other expenses like office rental, employee software costs, and other overhead expenses.
3. Professional Risk Management: Businesses that outsource business operations may be able to lower risks by entrusting those aspects of their operations to seasoned professionals who understand how to minimize pertinent hazards.
4. Use of Innovative Technologies: Most BPO companies specialize in a particular function and make significant investments in state-of-the-art technologies to compete for clients with other BPO firms. This means that the businesses that outsource them often have access to the most cutting-edge and superior technology in the field – technologies that they may not have the resources to deploy or even be aware of internally.
BPO can benefit your businesses to grow in three ways:
1. You can free up your employees to focus on more high-level work that will support your company’s expansion by taking on low-level or repetitive tasks.
2. In the long run, BPO can save you money because it is often less expensive than hiring and maintaining an internal team.
3. You can gain access to specialized skills and information that are otherwise unavailable to you by working with a trusted BPO provider.