Posted April 2014
Have you heard your colleagues or clients refer to BPO? It has become a buzzword in our industry. What exactly is Business Process Optimization?
A business process is defined as a collection of related, structured activities or tasks that produce a specific service or product. Everyone is involved in some type of business process throughout their workday, some in many. Business Process Optimization uses a systematic approach in an attempt to continuously improve business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology.
An example of a business process is the accounts payable department. Paying bills happens pretty much the same way in every organization all over the world. The difference from one company to another is how efficiently this process happens. The more efficient the process, the fewer late charges, the more accurate the billing and the higher the early-pay discounts. This can lead to better vendor relations, increased organization and maybe even more discounts in the future. Larger organizations usually have the help of expensive business process management applications that integrate with the rest of their systems to automatically improve efficiency, but you don’t need large, expensive software packages to make your business more efficient, you just need TGI.