In the face of increasing competition and lean resource available to a company, executives have had to contract part of their operations and responsibilities to third party agent who carry out such functions for a fee that is usually cost effective compared to when the company provides it on it own thereby helping to conserve resource without comprising on quality.
Business Processing Outsourcing {BPO} is a form of outsourcing that involves the contracting of the operations and responsibilities of a specific business function or process to an outsider or a third party agent service provider to execute. Business process outsourcing can be applied in almost every aspect and segment of business and some of the areas include Information Technology, Telecommunications, Maritime, Banking, Manufacturing etc
In outsourcing, we have the in-source, in which you are sourcing the services within the shores in which the company is located while out-source is a situation whereby the services are sourced from outside the shore of the country where the company is domiciled.
Business Process Outsourcing has now become an avenue to multinational companies to outsource certain areas of their business operations to other parties to handle for them.
Business process outsourcing services in Nigeria is still at the developing stage and this could be attributed to lack of information about the subject matter in the country .It is mostly deplored in the telecommunication industry because the industry is largely controlled by foreign entities with a well grounded knowledge of the benefit and use of business process outsourcing.
With the creation of the Association of Outsourcing Practitioners of Nigeria {AOPN}, the industry is set for growth.
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