Business process outsourcingBusiness process outsourcing (BPO) is a subset of outsourcing in which a company contracts the operations and responsibilities of a specific business process to a third-party service provider. BPO offers organizations significant advantages, including increased flexibility, cost efficiency, and a sharper focus on core competencies.
OutsourcingContracting internal tasks to an external organizationWorldwide communication allowed customer service interactions to be outsourced to low-wage countries, particularly in call centers.Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally.
OffshoringOffshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored. Offshoring neither implies nor precludes involving a different company to be responsible for a business process.Physical restructuringManufacturing companies often refer to their manufacturing plant transfer, consolidation and closure activities as physical restructuring. This can be done by moving production or services overseas, a process known as offshoring. Such projects began in the United States during the 1960s and by 2009 showed little sign of having ended. Such corporate behavior has taken its toll on the manufacturing base and continues to do so.
Business processA business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers.
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IndiaCountry in South AsiaIndia, officially the Republic of India, is a country in South Asia. It is the world's seventh-largest country by area and the largest by population. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is near Sri Lanka and the Maldives.
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North American Free Trade AgreementThe North American Free Trade Agreement (Spanish: Tratado de Libre Comercio de América del Norte, TLCAN; French: Accord de libre-échange nord-américain, ALÉNA), referred to colloquially in the Anglosphere as NAFTA ( ), was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America.Special:Search/offshoringRelated word or term.*As an Amazon Associate I earn from qualifying purchases.