Why do companies outsource their work?There are mainly four reasons for a company to outsource its work:
a.) Cost saving
b.) Focus on core activities
c.) Access to special enterprise who has expertise in the domain.
d.) Other resource related reasons like relieving resource constraints, reducing IT staff and augmenting IT staff .
What do following abbreviations stand for?a.) BPM - Business Process Management
b.) BTO - Business Transformation Outsourcing
c.) BPO2 - Business Process Optimizing and Outsourcing
d.) KPO - Knowledge Process Outsourcing
e.) MBPO - Medical Business Process Outsourcing
f.) HRO - Human Resource Outsourcing
g.) RPO - Research Process Outsourcing
h.) EPO - Engineering Process Outsourcing
i.) ESO - Engineering Services Outsourcing
j.) Procurement BPO - Outsourcing the procurement activities.