Business Process Outsourcing
From being a mere $7 billion industry in 2006, to currently being estimated at about $120 billion, the growth prospects in BPO are tremendous, and has shown a lot of promise. So what is so fascinating about this industry that has attracted so many businesses and resulted in this form of growth?
In spite of the challenges in the BPO industry, one of main reasons behind its success is the availability of a large number of talented English speaking individuals at very low costs. This has turned countries such as Bulgaria into highly sought after destinations for business process outsourcing. As a top global outsourcing destination, Bulgaria owes its success to well-educated individuals, the majority of whom are very young, and it’s unique location and time-zone advantage. Today, most of the US and UK based companies outsource their requirements to Bulgarian service providers.
WHAT ARE THE ADVANTAGES OF THE BPO INDUSTRY?
1. Lower costs
One of the main reasons business organizations outsource is cost reduction. Instead of buying IT equipment, increased office space and hiring more employees to do different tasks, they can outsource the tasks to a service provider, reducing or even eliminating increased cost.
2. Higher efficiency
Our company is experienced in many different fields and perform at the highest level. We also adopt best practices and use the latest technology. Which naturally results in higher efficiency and greater productivity.
3. Focus on core business functions
Many companies, usually start-ups, encounter a difficult time with ancillary business activities. Transferring or Outsourcing non-core processes to our experienced agents will give your organization more time to focus on its main business activities.
4. Global expansion
If an organization decides to enter an overseas market, some activities that require local market knowledge, national law expertise, or fluency in a foreign language can be assigned to a BPO company. It helps in boosting efficiency and quicker expansion.
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