Business process services (BPS) - Glossary

Business Process Services (BPS) are streamlined efforts through which companies offload certain operational tasks to external partners enabling them to focus more on core business activities. Think of it as hiring a team of experts to handle your support functions like customer service payroll or IT maintenance which allows your in-house team to concentrate on strategic initiatives. By entrusting these routine yet vital processes to specialists businesses can achieve heightened efficiency and cost effectiveness. A real-world example could be a retail company that uses BPS to manage its customer inquiries. Instead of dedicating internal resources to handle varying customer demands the retail company partners with a BPS provider to ensure each query is met with expertise and efficiency. This not only improves service quality but also frees up internal teams to innovate such as developing new marketing strategies or expanding product lines ultimately driving the business forward in meaningful ways.