Back office is a division of most corporations where functions consecrated to running the company itself take place. The term back office arises from the building design of early companies where the front office that include the sales and other customer-facing staff and the back office would be those manufacturing or developing the products or involved in administration but without being seen by customers. Although the performance of a back office are generally not given a lot of consideration, they are a main contributor to a business.

Examples of back-office function that involved in IT departments that keep the phones and computers running performance architecture, accounting and human resources. These functions are often maintained by back-office systems: assured e-commerce software that processes company information. A back-office system will keep a details of the companys sales and purchase deals and update the inventory as required. Invoices, receipts and details can also be generated by the back-office system.

In banking, the back office involves a heavyweight IT processing system that manipulate position keeping, clearance and settlement. In investment firms, the back office contains the administrative tasks that support the trading of securities, including details keeping, trade confirmation, trade settlement and regulatory compliance. If used in sales, the back office would include tasks that fulfill customers demands and would normally include the duties involved in customer-support call centers.

Front office may assign to Sales and Marketing divisions of a company. It may also assign to other divisions in a company that involves interactions with customers. In hotels front office assigns to the Front Desk branch of the hotel.
The core operations branch for a hotel foundation. In information technology front office may assign to an integrated CRM software. In financial services companies front office assigns to investment management, corporate finance and sales teams. In professional sports, front office commonly assigned to the management of a team, conference, league or some other sport organization.

Middle office contains branches of a financial services company that handle position keeping i.e. control representation of transactions within transaction indicating system of a company. These tasks make sure these transaction representations correctly capture benefit flows given the technological resources.

Copyright © FinancialServicesOutsource.Com, 2009. All Rights Reserved