Bennetsen Medeiros posted an update 9 months, 2 weeks ago
Outsourcing basically means outsourcing work, either essential or non-essential, to a alternative party who is specializing in that exact task, located in both precisely the same country or overseas. When the company is located in a different country the outsourcing process is more specifically termed Off sourcing. Outsourcing or off sourcing can be a constantly growing industry estimated at $20 billion currently, and the biggest slice of this outsourcing pie is received by emerging economies like India, China, Brazil, Philippines and Mexico. So what are the many forms of outsourcing processes and the way can an enterprise take advantage of them?
Outsourcing is of multiple types, like Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), Medical Outsourcing, Accounts Process Outsourcing, Legal Process Outsourcing (LPO) etc. In BPO, the most typical type of outsourcing or offsourcing, the non-core tasks like payroll maintenance, house keeping, and customer service are presented to companies with proven expertise in the area. Similarly, an organization may wish to outsource it’s accounting methods to an email finder service provider in India and other country. Exceeding 1.8 million patents being filed annually, Legal Process Outsourcing or LPO has emerged as an excellent industry. Legal services can be obtained for much lower rates in India than in the usa and they are of the high standards. Not merely patents, even routine legal services like filing affidavits, are outsourced to third parties in LPO.
Some companies are experts in providing knowledge oriented services associated with research and e-education, getting together again the blossoming knowledge Process Outsourcing (KPO) sector. Even hospitals haven’t lagged behind other sectors and therefore are actively outsourcing medical transcription and billing ways to cheaper destinations like India. In fact, medical transcription is providing a fresh strategic window to numerous young persons within the developing world, especially females, to earn a stable income from a moderately skilled job.
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