10 Offshore Outsourcing Buzz Terms
It is no secret that call center outsourcing is a well known industry; as a matter of fact, there are so many people who know of the many advantages of offshore outsourcing and plan to explore it. There are a lot of jargons used in the “offshore outsourcing” business, which are known to be quite confusing.
It is essential that you know the most commonly used buzz words or terms in the offshore outsourcing industry. The following is a list of ten buzz terms used in call center outsourcing:
1. Domestic or Onshore Outsourcing
Domestic or onshore outsourcing is when an organization’s business process outsourcing requirements are being met by another company located in the same nation. When compared to other call center outsourcing solutions, domestic or onshore outsourcing is more costly; especially when it comes to taxes, labor costs and other business related areas.
2. Nearshore Outsourcing
This term is used when an organization is outsourcing some of its work activities to a neighbouring nation.
“Globalization” is a term that gained recognition with the advent of the internet. It refers to certain types of products, service, and business that have no standardized boundaries of countries, time, or language.
4. Crowd Sourcing
This process involves inviting interested workers through an online “open call” i.e. Bidding platforms
5. Offshore Outsourcing
As an authority on offshore outsourcing subject, I can tell you for a fact that more and more businesses (both small and large) are taking advantage of the offshore outsourcing. Offshore outsourcing is a process where work/tasks is outsourced to a destination or destinations where the manpower and labor expenses is a more affordable than near shore or onshore destinations.
TCO can be described as Total Cost of Ownership/Total Cost of Outsourcing from the labor costs to service fees, and from the implementation and managing of fees that call center service providers have to bear for a client’s project.
Service Level Agreement (SLA) is an agreement that includes the terms & conditions, charges and services which call center service providers and their clients are to agree upon.
8. Virtual Call Center
Virtual call centers are call centers where all agents are situated in various locations around the world but perform their tasks as a team for an organization
Business Process Outsourcing (commonly called BPO) is simply a fancy word for call center. Though, BPO can also used in a pretty wide perspective as it is divided into two groups:
- Front office outsourcing
- Back office outsourcing
E-outsourcing is when an organization purchases much needed information technology (IT) services and or products via the internet as an alternative to deploying its in-house source to satisfy this IT requirement.
When you contact an offshore outsourcing service provider such as 123 Employee, the aforementioned industry jargon will not seem like Greek to you.