Business Process Outsourcing (BPO)
Companies turn to Business Process Outsourcing firms to handle non-core activities and day-to-day business tasks such as human resources, document management and even customer relationship management. That way, they can focus on their core business activities. It's a booming business a\nd Gartner Dataquest of Greenwich, Conn. now estimates that those companies that turn to BPOs will be handsomely rewarded, tripling their revenues.
The philosophy behind BPO is specific, do what you do best and leave everything else to business process outsourcers. Companies are moving their non-core business processes to outsource providers. BPO saves precious management time and resources and allows focus while building upon core competencies. The list of functions being outsourced is getting longer by the day. BPO is one way of increasing profits. If done well, BPO results in increasing shareholder value.