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UK being a developed economy has plenty of business processes which are being outsourced to third parties. Internationally, UK is known for advancing new methods to reduce cost and BPO is one such method which not only reduces the production cost but also enables an organization to outsource tertiary work to third party and concentrate on primary projects. Moreover, the size of global BPO market has increased dramatically and BPO market is worth $122 – $154 billion.
BPO jobs in UK particularly Payrolls, Banking, Governments, Railways, Hotels, Airways, Publishing Houses, Stock Markets, Inventory and Logistics Services Providers, Stock Brokers, etc. not only attract brilliant human resource but also reduce production cost in remarkable manner. Sectors such as retail banking, insurance, travel/hospitality, auto, telecoms, pharmacy, finance, accounting and HR, etc. are some major segments which are using BPO services in UK.
BPO in UK
Despite great scope, BPO services have not been utilized as according to some reports not even 10 per cent of the potential of BPOs has been utilized so far. In a typical BPO in UK, the work is transferred to the third party service provider under various provisions of a contract. The contract may contain core work or non-core, depending upon the nature of work. The amalgamation of IT and BPO forms the new sector called ITES which helps in deployment of FOREX.
Industries offering BPO Jobs in UK
Various BPO companies in UK serve the specific purposes of client companies working in financial, accounting, customer care and marketing, etc. Moreover, BPOs in UK have grown up in mammoth sizes which fairly can be attributed to the effective management of the BPO. Many management students get jobs in BPOs UK as various jobs require having a management degree to run a BPO or some process in some BPO.
Qualifications and Skills for BPO Jobs in UK
Most of the BPO jobs are opened for English speaking persons and a candidate with degree from a college or university with strong communication skills and flair in English is considered suitable. Some BPOs in UK do not require from a person to have graduation done, however, management study shows that there can be offices which can work in BPO in UK.
BPO industry in UK
BPO industry in UK is huge and encompasses all restrictions which are followed. There are three key strands within the BPO industry in UK and each one often incorporates technology investment as part of the solution. Some major processes that are being processed by the third party are front office, customer-centric work, contact centre management, etc. Additionally, horizontal back-office are the offices which are like verticals including of human resources, finance & accounting, document management, etc.
The ever increase potential market for BPO in the UK has been estimated at £94.2bn with only £6bn currently let. Evidently, two-thirds of the activity sits within the private sector, the public sector accounts for the remaining activity which includes sectors such as central and local government, education and health, etc. Growth in UK BPO remains substantial as organizations review their business models and acknowledge the benefits of outsourcing in prominent manner.
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