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Business services outsourcing includes a wide variety of businesses that offer services to other businesses on an outsourced basis that can comprise of accounting, receivables collection, benefits administration, HR administration, recruiting, training, security and computer-related services. This industry is one of the three major industries in the United States that has seen a major growth in the last decade due to recent technological developments. As organizations have become more comfortable with the benefits of outsourcing transactional processes, they have progressively started to outsource higher value-added services and more comprehensive processes for example, they move from outsourcing just one, discrete function to outsourcing an entire end-to-end process (from accounts payable to complete finance and accounting operations, from payroll to entire HR operations). As companies move to more comprehensive outsourcing relationships, they are able to benefit from greater economies of scale, broader transformation of their processes and an accelerated speed to value. Many CFOs have seen BPO as a viable approach for managing discreet processes, thanks to increasing vendor Expertise, multi-language support and successful delivery with balanced SLAs for monitoring and control. As successful outsourcing project experience spreads, they see that substantial operational efficiencies and cost savings are not only possible but realistically within reach.
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