what is a bpo

BPO stands for Business Process Outsourcing, which is a business practice where an organization contracts with an external service provider to perform an essential business function or task. Originally, BPO was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain. Today, BPO has grown to include all sorts of sectors, including services companies. BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact center (customer care) services. BPO that is contracted outside a companys country is called offshore outsourcing, while BPO that is contracted to a companys neighboring (or nearby) country is called nearshore outsourcing. BPO call centers are a team of outsourced agents who handle incoming and outgoing customer calls for other businesses. BPO services can include customer service, accounting, payroll, and human resources management. Finally, a broker price opinion (BPO) is a real estate professionals estimate of a propertys value.