What is business process outsourcing?

Business Process Outsourcing (BPO) can be defined as "the outsourcing of one or more business processes to an external provider that owns, operates, and manages the selected processes, based on defined and measurable  performance metrics".

External vendors performs your business processes like , Accounting, Bookkeeping, Accounts payables, Accounts Receivables , Finalization of accounts and tax compliances etc.  A collection of interrelated tasks that takes input and produces an output that is of value to a customer or to other process.

A BPO solution may include:  A Primer on Business Process Outsourcing (BPO)

• Service delivery through an integrated global delivery model whereby provision of particular service components may come from multiple countries
• Extensive leveraging of technology and telecommunications capabilities to deliver comprehensive services
• Additional value added components such as speed of delivery, business resiliency, and increased customer service.

In BPO, the service partner not only takes on the responsibility of the function, but should also re-engineer the underlying process.

What is Financial and Accounting BPO?

Financial and Accounting Outsourcing (BPO) can be defined as the one which source your Financial and Accounts related work like Accounts Payable, Accounts Receivable, Tax, Mortgage Processing, etc, to outside vendor.

The main reasons small businesses are performing F&A BPO, to cut cost, increase operational efficiency, and to free internal resources from manual and labor incentive work to other core F&A work.