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The Business Process Outsourcing Industry

You should know what to expect when looking for a business partner if you're an enterprise owner planning to outsource some of your processes.

What Is Outsourcing?

It is a business practice in which the non-core processes of a firm are being performed by outside parties on a contract basis. Companies do this as a cost-cutting measure as it is more cost-efficient compared to hiring your own people to do specific tasks.

 

Can you imagine the world today without outsourcing? If you are an owner of an enterprise and planning to outsource some of your processes, you should know what to expect in looking for a business partner.

 

As time passes by, things innovate and people continuously invent new materials, strategies, and a lot of other things to make life more convenient. Even for ventures, people created an effective approach towards a faster and more affordable way to make things done through outsourcing.

Brief History Of Outsourcing

The thought of outsourcing started when companies began to think of a competitive advantage to increase their market and profit. They continued to expand, which required them to have multiple layers of management that caused a burden. It was officially identified as a business strategy in the year 1989.

Brief History Of Outsourcing
It was during this period when enterprises started to outsource a few services. Independent companies opened their doors to serve clients. Back then, business owners deal with companies in the same area where they are located.
Manufacturing Industry
By the 1970s, manufacturing companies outsourced manpower to foreign countries as a step towards cost-saving measures. Manufacturing businesses found out that they could also outsource some of their functions to other countries and that it is beneficial as it can lower the market price of the products.
Legal And Accounting Industries
The first ones to outsource their payroll services were the computer companies. In the 1980s, they began to outsource legal services and other accounting and finance operations also to save costs. It became common for companies that wanted to effectively focus on their core functions without distraction.
Outsourcing Industry Today
Now, outsourcing of many corporate functions such as data management and solutions, IT services, customer service, mail distribution, security, maintenance, housekeeping and other non-core processes is undeniably common. Almost every business chooses it to keep costs manageable. It is also prevalent to outsource from foreign countries today as it is much more cost-efficient.

Outsourcing offers great value of work, which made it as one of the fastest growing industries in the world today.

Common Services Outsourced

Inbound Outbound Data Services Other Popular Services
Call Center Telemarketing Data Entry Virtual Assistant
Technical Support Lead Generation Data Mining Ecommerce Services
Telephone Answering Service Surveys Data Cleansing Marketing and Online Marketing
Order Taking and Order Processing Data Management 3D Animation
Reservations and Booking Website Development
Web Form Management Software Development
Live Chat Helpdesk and Remote IT Services

Some Of The Biggest Outsourcers

United States

United kingdom

Denmark

Australia

Singapore

Germany

France

Switzerland

Top Outsourcing Destinations

Average Employee Compensation In English-Language BPO Solutions Companies

Country Average Monthly Compensation Cost Per Hour Annual Compensation
Philippines $340-$400 $2.13-$2.5, where $1=Php50 $4,080-$4,800
India $263.44-$436.62 $1.65-$2.73, where $1=₹71 $3,161.28-$5,239.44
United States $2,505-$2,916.67 $15.66-$18.23 $30,060-$35,000.04

Government Support To Outsourcing Industry

Outsourcing Industry In 2023

Outsourcing offers great value of work, which made it as one of the fastest growing industries in the world today. The rising competition of businesses around the world is what made this industry emerge and become a necessity for companies. It is poised to create more jobs by the year 2023. As of this day, the outsourcing industry has no signs of slowing down. With its beneficial effect to businesses and even to various countries and the constantly growing number of companies choosing this practice, it is expected to grow and continuously thrive to become a global leader today and for the next years to come.

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Call us for a FREE CONSULTATION

Toll Free: 1 800 371 6224        US: +1 650 204 3191       

UK: +44 8082 803 175,        AU: +61 1800 247 724

Contact us today for a free 60-min consultation

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    You can also contact our numbers:

     

    Toll Free: 1 800 371 6224

    US:  +1 650 204 3191

    UK: +44 8082 803 175

    AU: +61 1800 247 724