Business Process Outsourcing in Bangladesh

Business Process Outsourcing (BPO) is the practice of contracting standard business functions, such as customer service, accounting, or human resources, to external service providers. This allows companies to focus on core activities while reducing costs and improving efficiency.

Why You Should “Outsource” a Business Process?

Outsourcing a business process can significantly reduce operational costs, allowing companies to focus on core competencies and strategic growth. It provides access to specialized expertise and technology without the need for large capital investments. Additionally, outsourcing can enhance efficiency and scalability, adapting quickly to market changes and demands.

 

Types of the Business Process Outsourcing (BPO)?
Business Process Outsourcing (BPO) can be classified into two categories:
  •  Back-office business functions (e.g. accounting); and
  • Front-office business functions (e.g. marketing and sales).
Apart from classifying BPO in terms of its services, it can also be categorized into different types based on the service provider’s location: “Offshore outsourcing” and “Onshore outsourcing”.
 
Benefits of BPO outsourcing?
  • Cost Reduction: Lower operational and labor costs.
  • Focus on Core Activities: Allows companies to concentrate on their main business functions.
  • Access to Expertise: Utilizes specialized skills and advanced technology.
  • Scalability: Easily scales operations up or down based on demand.
  • Improved Efficiency: Streamlines processes and increases productivity.
  • Risk Management: Shares and reduces business risks.
  • Global Reach: Provides access to global markets and round-the-clock operations.
  • Enhanced Quality: Often leads to better service quality and customer satisfaction.
Why your Business should “OUTSOURCE” Accounting Services?

Outsourcing accounting services can bring numerous advantages to a business. Firstly, it significantly reduces costs related to hiring, training, and maintaining an in-house accounting team. This cost efficiency extends to avoiding expenses associated with accounting software and infrastructure.                                                    Secondly, outsourcing provides access to a team of professionals who are experts in accounting regulations and standards. These experts ensure compliance with financial laws, reducing the risk of errors and penalty. Moreover, outsourcing accounting services allows business owners to focus on core operations and strategic planning rather than getting bogged down with financial details. It enhances the accuracy and reliability of financial reporting, providing better insights for decision-making. Outsourcing also offers scalability, enabling businesses to adjust accounting resources based on their needs without the hassle of hiring or layoffs. Additionally, it ensures continuous service without interruptions due to employee turnover or leaves.                                                                                                     Overall, outsourcing accounting services streamlines financial management, increases efficiency, and supports business growth by providing expert, reliable, and cost-effective solutions.

Right solution Business Process Outsourcing Services 
  • Financial statement preparation
  • Bookkeeping and record-keeping
  • Payroll processing
  • Tax planning and compliance
  • Auditing and assurance services
  • Budgeting and forecasting
  • Management consulting
  • Risk assessment and internal controls
  • Financial analysis and reporting
  • Merger and acquisition support
  • Forensic accounting and fraud investigation
  • Estate and retirement planning
  • Business valuation
  • Compliance with regulatory requirements

Outsourcing accounting firms are essential for businesses, helping to cut costs and boost performance. Expert accountants keep up with changing laws and offer crucial financial advice. These firms handle all accounting tasks efficiently, ensuring compliance and providing valuable recommendations. By outsourcing, businesses save money, improve accuracy, and gain access to expert guidance, making outsourced accounting services indispensable.