What is BPO accounting?
Within F&A, insurers and retail banks are exploring back-office financial processes as well as looking further up the value chain to core business processes. At the heart of F&A BPO programs are the high volume, repeatable processes such as AR, AP, Collections & Billing. But they represent only a portion of the process range that can be outsourced. Full-scope BPO could include core processes for both banks and insurers such as Treasury Back-office services, General Ledger, Tax Computation and Filing, among others.
BPO is the act of transferring some of an organization's repeated non-core and core business processes to an outside provider to achieve cost reductions while improving service quality.
When one company, often a richer company from a developed nation, gets some of its work done by another company, often a smaller company in a developing country, it 'outsources' that part of its work. The work could be anything, -- management of records, accounting, marketing of products and services, grievance handling, collections, etc.
While call centres employ the largest number of youngsters, a lot of emerging areas are also making the industry attractive to a wider audience. Engineering services like CAD/ CAM, 2D modelling and design automation are the latest additions to processes being outsourced to India.
KPO (knowledge process outsourcing)
Some high-end services that are part of the new emerging industry KPO (knowledge process outsourcing) are research a ...more