Business Outsourcing Company
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First seen as a formal business strategy in 1989, outsourcing is the process of hiring third parties to conduct services that were typically performed by the company. Often, outsourcing is used so that a company can focus on its core operations. It is also used to cut costs on labor, among others. While privacy has been a recent area of controversy for outsourcing contractors, it has also drawn criticism for its impact on the labor market in domestic economies.\"}},{\"@type\": \"Question\",\"name\": \"What Is an Example of Outsourcing\",\"acceptedAnswer\": {\"@type\": \"Answer\",\"text\": \"Consider a bank that outsources its customer service operations. Here, all customer-facing inquiries or complaints with concern to its online banking service would be handled by a third party. While choosing to outsource some business operations is often a complex decision, the bank determined that it would prove to be the most effective allocation of capital, given both consumer demand, the specialty of the third-party, and cost-saving attributes. \"}},{\"@type\": \"Question\",\"name\": \"What Are the Disadvantages of Outsourcing\",\"acceptedAnswer\": {\"@type\": \"Answer\",\"text\": \"The disadvantages of outsourcing include communication difficulties, security threats where sensitive data is increasingly at stake, and additional legal duties. On a broader level, outsourcing may have the potential to disrupt a labor force. One example that often comes to mind is the manufacturing industry in America, where now a large extent of production has moved internationally. In turn, higher-skilled manufacturing jobs, such as robotics or precision machines, have emerged at a greater scale.\"}}]}]}] Investing Stocks Bonds Fixed Income Mutual Funds ETFs Options 401(k) Roth IRA Fundamental Analysis Technical Analysis Markets View All Simulator Login / Portfolio Trade Research My Games Leaderboard Economy Government Policy Monetary Policy Fiscal Policy View All Personal Finance Financial Literacy Retirement Budgeting Saving Taxes Home Ownership View All News Markets Companies Earnings Economy Crypto Personal Finance Government View All Reviews Best Online Brokers Best Life Insurance Companies Best CD Rates Best Savings Accounts Best Personal Loans Best Credit Repair Companies Best Mortgage Rates Best Auto Loan Rates Best Credit Cards View All Academy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All TradeSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.InvestingInvesting Stocks Bonds Fixed Income Mutual Funds ETFs Options 401(k) Roth IRA Fundamental Analysis Technical Analysis Markets View All SimulatorSimulator Login / Portfolio Trade Research My Games Leaderboard EconomyEconomy Government Policy Monetary Policy Fiscal Policy View All Personal FinancePersonal Finance Financial Literacy Retirement Budgeting Saving Taxes Home Ownership View All NewsNews Markets Companies Earnings Economy Crypto Personal Finance Government View All ReviewsReviews Best Online Brokers Best Life Insurance Companies Best CD Rates Best Savings Accounts Best Personal Loans Best Credit Repair Companies Best Mortgage Rates Best Auto Loan Rates Best Credit Cards View All AcademyAcademy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All Financial Terms Newsletter About Us Follow Us Facebook Instagram LinkedIn TikTok Twitter YouTube Table of ContentsExpandTable of ContentsWhat Is OutsourcingUnderstanding OutsourcingExamplesCriticismSpecial ConsiderationsOutsourcing FAQsThe Bottom LineBusinessBusiness EssentialsOutsourcing: How It Works in Business, With ExamplesByAlexandra Twin Full Bio LinkedIn Alexandra Twin has 15+ years of experience as an editor and writer, covering financial news for public and private companies.Learn about our editorial policiesUpdated June 18, 2022Reviewed byMargaret JamesFact checked by
First seen as a formal business strategy in 1989, outsourcing is the process of hiring third parties to conduct services that were typically performed by the company. Often, outsourcing is used so that a company can focus on its core operations. It is also used to cut costs on labor, among others. While privacy has been a recent area of controversy for outsourcing contractors, it has also drawn criticism for its impact on the labor market in domestic economies.
Consider a bank that outsources its customer service operations. Here, all customer-facing inquiries or complaints with concern to its online banking service would be handled by a third party. While choosing to outsource some business operations is often a complex decision, the bank determined that it would prove to be the most effective allocation of capital, given both consumer demand, the specialty of the third-party, and cost-saving attributes.
The disadvantages of outsourcing include communication difficulties, security threats where sensitive data is increasingly at stake, and additional legal duties. On a broader level, outsourcing may have the potential to disrupt a labor force. One example that often comes to mind is the manufacturing industry in America, where now a large extent of production has moved internationally. In turn, higher-skilled manufacturing jobs, such as robotics or precision machines, have emerged at a greater scale.
BPO Companies are the norm for several industries today: Business Process Outsourcing is a great way to cut down costs and improve productivity with a singular focus on core business activities.
In this article, we pick out 23 of the top business process outsourcing companies for you to consider when it comes to formulating an outsourcing strategy. But first, watch this video to learn why this business model is so successful.
Accenture is a well-known name in the IT sector. The company provides consulting, technology, and Business Ops services and has been catering to a number of Fortune 100 giants. Accenture is one of the largest professional services companies in the world and employs more than 500,000 people globally.
The company has been catering to well-known global organizations of the like of Wells Fargo and JPMorgan Chase. Cognizant is also known for its IoT, AI, and cloud solutions. The company also offers digital engineering and security services.
Wipro is a multinational BPO company based in India. The company has been providing consulting, business process outsourcing, and IT services to clients across the world. Wipro has been receiving several acclaimed industry awards and has also been recognized as a Fortune Global 2000 company.
Infosys is a name that needs no introduction when it comes to the IT and business process management spaces. The Indian company helps global clients scale their digital agility levels to boost performance.
Concentrix is a business process outsourcing company that has been supporting a plethora of services for its clients located around the world. The company serves nearly 80 Fortune 500 clients and has more than 225,000 employees in different parts of the world.
Plaxonic is an India-based business process outsourcing company that has offices across the world. At the core of Plaxonic Technologies is a focus on digitalization and its many benefits to create innovative corporate solutions for their clients that can stand the test of time.
EXL Service is a New York-based BPO company with more than 30,000 employees. The organization aims to foster real digital transformation for their clients to accelerate speed to market and boost revenues. The company helps clients orchestrate complex tech solutions in a cost-effective manner.
Skyes is an American multinational BPO company with its headquarters in Florida. The company is known for its IT consulting and ITES services that help their clients create powerful and intelligent customer experiences.
SunTech is a well-known multi-channel business process outsourcing company based in India. The company is recognized for its plethora of IT services that can help businesses realize their ROIs faster with greater efficiency.
OctopusTech is an Indian BPO company that caters to the needs of global organizations, helping them cut down on costs and in-house competency requirements. The company offers tailor-made services to suit specific client needs.
Invensis is a global outsourcing services company that hails with an experience spanning more than two decades. The company has delivery centers across the globe and employs more than 3000 professionals. Today, Invensis is recognized as a leading BPO company.
MattsenKumar is a team of nearly a thousand trained professionals. The company has experience spanning more than 20 years and has been handling contact center functions for organizations across the globe. The company has about 75 international clients in different parts of the world.
Ameridial is a business process outsourcing company based in the US. The organization mainly provides B2B telemarketing services to its clients. The company today processes millions of customer interactions annually. 59ce067264