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Question
What is BPO? Explain in detail?
Solution
Business process outsourcing or BPO is a business practice in which one organization hires another company to perform a task ( process) that the hiring organization requires to operate its own business successfully.
Meaning:
BPO is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. BPO refers to the outsourcing of peripheral activities of the organization to an external organization to minimize cost and increase efficiency. For example, customer care centers for various banks, service providers, etc.
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