Glossary

The most comprehensive list of business process outsourcing related terms and definition.

Digital Nomad

Definition

What is a digital nomad

A digital nomad is a remote employee who lives in a different location. They are either remote workers or freelancers who aim to travel the world. Unlike most online workers, they work in coffee shops, public libraries, and other places with access to wifi.

Commonly, being a digital nomad requires financial security, active work prospects, and skills in technology. Some of the most popular destinations for digital nomads include Indonesia, Thailand, and several countries in Latin America.

Digital nomad careers

Careers for digital nomads are usually location-independent, allowing them to work from anywhere in the world. This includes creative jobs such as writing, graphic design, content marketing, and programming.

Aside from improving skills needed in most freelance work, interested persons should join online communities or websites such as Nomad List to learn more about being one. These sites include the places they can go and the expenses they need to prepare to experience the life of a digital nomad.

What is a digital nomad

Outsourcing FAQ

What is Business Process Outsourcing (BPO)?

What is business process outsourcing?

Business Process Outsourcing (BPO) is the engagement of services from a third-party provider. BPO uses various technology-enabled services to hasten the delivery of services. The business activities could be back-office such as, but not limited to, payroll, accounting, human resources, or front office jobs like customer service, sales, and marketing, etc.. In the case of content providers, these business activities could mean hiring writers, remote editors, or virtual assistants.

BPO speeds up processes and enhances efficiency. Companies that outsource some of their business activities use their time on core services and competencies. With this shift on focus, companies improve their current processes that may result in improved customer satisfaction. BPO helps companies divert their resources to more critical business strategies. Often, companies find it impractical to hire a full-time position inhouse because of the cost associated with doing so.

Business process outsourcing services

Outsource Accelerator is the most trusted source for independent information & advisory for Business Process Outsourcing (BPO). We have over 3,000 articles, 200+ podcast episodes, and a comprehensive directory with 700+ BPOs… all designed to make it easier for clients to learn about, and engage with, business process outsourcing.

What is a Startup?

What is a startup?

Startups are companies that are founded by entrepreneurs with the goal of growing into a large-scale business. A startup must not only offer a product that has wide market demand but will also be expected to develop a scalable business model. As opposed to other entrepreneurship which may or may not grow larger than a sole proprietorship, startups from the get-go are expected to have accelerated growth, sometimes prioritizing growth over the revenue stream.

Because of the pressure to grow, most startups adopt an experimental methodology, often creating small projects to test assumptions and predictions to better understand who their market is and what is the demand for their product. As such, startups require excellent customer support skills, and technical development skills to both gather and interpret information and iterate on the product to better match the customer need. Ultimately, a startup relies on confidence borne from experience and data. Decisions must be made with confidence such that even bad decisions are processed and learned from.

Startup outsourcing

Decisions made in confidence are not based on gut-feel or available resources but are made knowing the capabilities of your teams and with an understanding of the market-dynamics. If the teams are unable to deliver, or the investment made is large with little to no understanding of the risks involved, startups risk damaging their credibility and their ability to attract funding. Having experienced and capable teams with managers able to interpret trends and discern risks are major confidence builders that can help startups navigate the path to growth.

Outsource Accelerator specializes in helping small & medium sized enterprizes (SMEs), with 2-500 employees, typically based in the high-cost English-speaking world. We are the experts in transforming these businesses with startup outsourcing.

What is a Virtual Assistant?

What is a virtual assistant?

Virtual Assistants are professionals that work remotely with your organization in either a full-time or part-time capacity to handle repetitive work, specialized work, or one-off tasks. The term originally came from personal assistants who worked remotely with their clients. Thanks to developments in software and telecommunications, virtual assistants nowadays can handle any type of work, ranging from simple data-entry type tasks to tasks requiring specialized knowledge and experience.

Virtual assistants can range from newly graduates looking for a full-time career, to retired industry veterans wokring a side-job by marketing their professional skills. They are a great option for companies that need expertise for a specific project, or who only need that expertise for a specific part of the day. Other times, companies leverage virtual assistants to take the load off their regular employees by handling low-skill or repetitive tasks, freeing their employees to handle more high-value or critical work.

Outsource virtual assistant

Since any one can become a VA so long as they have a good internet connection and an excellent work ethic, companies and business owners can find virtual assistants with a range of interests and skills. Some of the tasks assigned to VAs include: email management, online marketing campaigns, lead generation, customer service, social media management, internet research, and project management.

Outsource Accelerator provides you access to professional outsourcing companies from the Philippines starting from $6 per hour, where you can save up-to 70% on staffing cost. We make it easier for clients to learn about, and engage with outsourcing virtual assistants.

What is a Freelancer?

What is a freelancer?

A freelancer is often hired for a particular job or fixed project who has the freedom to work flexible hours on these projects. Being self-employed, it is common for freelancers to handle multiple clients at any given time.

A freelancer can specialize in various project-based jobs, such as writing, graphic designing, web developing, digital marketing, and a lot more. Freelancers work remotely with usually flexible working hours, as long as they are able to meet client deadlines. One disadvantage of being a freelancer is having no certain mandatory benefits shouldered by an employer.

Freelancers can be a great addition to an existing workforce for businesses who look for cost-effective service and high-quality work. Freelancers are perfect for small to medium business owners who are looking for excellent outsource partners who can work independently and can be productive under minimum supervision.

Freelancing and outsourcing

Outsource Accelerator specializes in helping small & medium sized enterprises (SMEs), with 2-500 employees, typically based in the high-cost English-speaking world. We are the experts in transforming these businesses with outsourcing.

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