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BPO stands for business process outsourcing and it involves contracting a third-party to provide specific business functions. Various operational processes are necessary to make a business run; however hiring a permanent employee to manage each process can be expensive. Business process outsourcing enables a business owner to utilize experts to manage these duties without the costs associated with hiring permanent staff members.

Several market factors in the United States, including the recent increase in the minimum wage, the rising cost of infrastructure and the ever-changing demand for new technology, has made the value of outsourcing more prominent than ever before.

Outsourcing will reduce labor costs, operational costs and technology costs. It eliminates the budget that would be necessary for recruitment and training. It also reduces the need to invest in office space, furniture, equipment, human resource functions and technology.

Outsourcing will not only save you money, but time as well – time that can be used to focus on growing and improving your business. A corporate executive’s time is best spent developing strategies in core business areas, not worrying about the day-to-day activities that keep the business running.