Business Process Outsourcing: Why More Companies Are Delegating for Growth
In 2023, the global business process outsourcing industry market size was worth $350.2 Billion. Businesses are diligently looking for outsourcing partners because it spares them with enough time to focus on important tasks. When sub-processes are outsourced, executives are left with enough time and resources to focus on core business processes. Organizations also outsource processes that need to be executed properly, but they lack SMEs to implement them. By outsourcing innocuous processes like bookings, payroll management, cold calling, and preparing interview schedules, enterprises can help their valuable executives focus on important tasks.
Table of Contents
- Why do organizations Choose Business Process Outsourcing?
- Business Functions that can benefit from Outsourcing
- Business Development & Marketing
- Human Resources
- Operations
- Administration & Finance
- IT & Data Security
- Business Process Outsourcing Examples
- Final Thoughts On Business Process Outsourcing
Why do organizations Choose Business Process Outsourcing?
The reason for outsourcing varies with companies but there are some specific processes that every organization can outsource. An enterprise is made up of functions that come together to serve one end goal. Business Development & Marketing, Human Resources, IT, Admin, and Finance are some functions that exist in every organization.
While the dependence on technology has increased, the changing nature of the job leaves employees with less time to serve their functions efficiently. By outsourcing not-so-important processes from all functions, organizations can help their valuable employees focus their efforts in the right direction.
- Helps Executives focus on Core Processes: When leaders are left with time to focus only on core business processes, they analyze available data and discover new avenues of growth.
- Boosts Efficiency and Effectiveness: The job of a marketer is to get the interview published and shared across all channels, not fix appointments and follow-ups.
- Improves Revenue: Outsourcing is cheaper and improves revenue. India is the most preferred location for outsourcing back-office tasks.
- Improves Processes: Outsourcing can help organizations improve processes by leveraging the expertise of outsourcing partners. Learn more.
Business Functions that can benefit from Outsourcing
Business Development & Marketing
Business Development and Marketing functions are responsible for identifying potential prospects, generating leads, and preparing collaterals.
- Market Research: Outsourcing allows BD teams to focus on creating proposals.
- Content Creation: Enables marketers to build high-impact campaigns.
- Data Entry: Quality data entry from experts helps BD effectiveness.
- Lead Generation: Email and cold calling can be outsourced for efficiency.
- Appointment Scheduling & Follow-ups: Save time and improve business relationships.
Human Resources
- Employee Verification: Can be outsourced to agencies for large-scale compliance.
- Payroll Management: Repetitive and structured—ideal for BPOs.
- Hiring Operations: Useful for industries with high-volume hiring needs.
Must Read: 5 Things To Keep In Mind Before Outsourcing Your Contact Center
Operations
- Order Processing: BPOs offer cost-effective and scalable solutions.
- Onboarding: Useful for cab aggregators and service platforms.
- KYC Processing: BPOs help manage compliance-heavy tasks efficiently.
Administration & Finance
- Bookkeeping & Accounting: Outsource monthly accounting for cost efficiency.
- Travel & Bookings: Helps streamline employee logistics.
- Security: Professional security services ensure employee safety and asset protection.
IT & Data Security
- Administrative Support: Ensure 24/7 IT uptime by outsourcing technical teams.
- Data Collection & Management: Industry experts provide reliable, secure systems.
Business Process Outsourcing Examples
BFSI and NBFC
These sectors outsource to reduce workload and ensure efficiency in:
- Customer Support
- KYC Processing
- Lead Generation
- Onboarding New Kiosks
E-commerce Marketplaces
Marketplaces often outsource more than standalone stores. Key processes outsourced include:
- Data Entry
- Logistics
- Catalog Creation
- Seller Onboarding
- Customer Support
Final Thoughts on Business Process Outsourcing
Outsourcing is not always about saving money; at times, it is about increasing the efficiency of businesses. When repetitive processes are outsourced, thought leaders and professional executives are spared enough time to concentrate on important processes that will take the companies forward.
Technological advancements have made BPOs quite efficient and accountable. An incomparable combination of state-of-the-art technology and talented professionals is offering businesses the requisite accuracy and efficiency.
