Outsourcing , Offshoring , BPM & KPO
Outsourcing refers to the delegation of the routine or peripheral business processes to some external organization, so as to free up their resources i.e. money, time & manpower, for the core activities of the business.
Offshoring is a type of outsourcing whereby the business process or services is relocated or shifted in a different country, with the aim of taking advantage of lower costs.
BPM / BPO / KPO / LPO
Business process management (BPM) is a field in operations management that focuses on improving corporate performance by managing & optimizing a company's business processes.
BPM Diverse industries include: banking & financial services; consulting & professional services; consumer packaged goods; healthcare; insurance; manufacturing; media & entertainment; retail; shipping & logistics; telecommunications; travel & leisure; utilities & energy.
BPO : Back office or front office operations - data entry, customer care, finance & accounting, transcription, website services, HR support & payroll processing
Knowledge process outsourcing (KPO)
Knowledge process outsourcing (KPO) solutions are crucial to meet the requirements of diverse industry segments
- Data Management, Search & Analytics
- Engineering Design
- Remote Education & Publishing
- Banking, Securities , Insurance & equity research
- Market Research & Competitive Intelligence
- Medical content & services
- Education & publishing
Legal Process Outsourcing (LPO) are some of the sub-segments of business process outsourcing industry.