Business Process Outsourcing (BPO) isn’t new. But advances in technology, specifically, the dramatic growth of cloud computing, have increased the BPO options, while building on an already compelling business case.
These days, any part of a business that’s not among its core competencies can and perhaps should be outsourced.
“Thanks to advances in the Internet area, executives don’t need to worry about whether a process can be outsourced but rather who is the best vendor to outsource it to,” Michael Salem, co-founder and CEO of Vorex., Inc., said in a recent Inc.com article.
Companies that take advantage of BPO outsourcing won’t be alone. The global BPO market is predicted to increase at 5.7 percent annual compound rate, resulting in a $209.4 billion market by 2017, according to research from IDC. The U.S. BPO market is expected to reach a total of $97.3 billion by 2017, IDC reported.
The tremendous growth of the BPO industry will provide companies with more opportunities to streamline their business practices, to focus on core competencies and save money and resources.