In today’s era, organizations are checking out for data and information to manage serious difficulties and settle on reasonable key choices. Due to tremendous competition in the market, organisations are looking to outsource their secondary activities like data services so as to focus on their core activities. This is where KPOs come into the picture.
In Knowledge-Process Outsourcing (KPO), an external organization performs the work for a different company. In most cases, these contractors are remotely based with expert knowledge in a particular field as they are better equipped with required skillsets.
Salient points about KPO
- Experts in subject matter are hired to perform knowledge-based tasks through knowledge process outsourcing (KPO).
- When a company lacks expert personnel and needs specialized knowledge, it turns to Knowledge Process Outsourcing.
- The goal of KPO companies is to simultaneously obtain skilled workers at a lower cost.
To understand more easily about KPO, let’s check out some examples-
- Firms in the B2B technology sector that need assistance optimizing their production lines to maximize profit without compromising quality
- Venture Capitalists firms that need help with investment research
Knowledge Process Outsourcing India
Due to its lion’s share of knowledgeable professionals and highly specialized domain workers, India has become a hub for Knowledge Process Outsourcing (KPO). Companies offer a wide range of services to global customers from various industry sectors. Additionally to these services, the KPO industry provides a variety of knowledge-based solutions, including Engineering Services, Web Application Development, Legal Processes, Patent Services, Business Research and Analysis, Legal Research, Clinical Research, Publishing, and Market Research & analytics among others.
What is the timeframe for KPO?
There are three major timeframes when a company needs KPO.
- It stems from a lack of specialization. Perhaps they are lacking a strong expert in a specific area or they may not have much experience in particular field.
- The next one is the lack of employees in the organization. Businesses may require additional help for this process if they have a team that lacks the right qualifications or if they have one that is already overburdened.
In all these cases, companies search for Knowledge Process Outsourcing Companies.
What the Future Holds for KPO in India?
The BPO sector now contribute nearly half of KPO’s new development, which means that it primarily drives the KPO boom. The transformation of many call centers into KPO centers is responsible for this, as these centers offer KPO services in addition to their regular BPO services.
Emerging Knowledge Process Outsourcing Trends
- Development of offshore delivery centers
- Growth of Tier-II cities
- Mergers and Acquisitions by leading players
- Captive Centers are gradually shutting down
India’s most popular KPO services
India is an attractive destination to outsource knowledge-based services since companies can access advanced analytical skills and domain-specific processes. A wide variety of knowledge-based services are available to organizations in the Indian KPO sector today. Some of the specialised KPO services provided in India are as listed below:
- Market research
- Financial research
- Business research
- Data Analytics
- Management consultancy
And many more services……
Challenges to be faced by KPO’s
The growth in this sector is in a good phase. Industries are trying to make more qualified experts. Competition in this industry is also tough these days. Companies that want to deal with KPOs want innovative and latest technologies which need skills and knowledge to match the standard and to remain and grab a good position in the industry as well.
Benefits of KPO
- Optimum utilisation of resources- When a company outsources its secondary activities to KPOs, they can utilise its resources effectively as well as efficiently
- Emphasizes on goals- By passing on their secondary activities to KPO, they can concentrate more on their primary and core objective and can focus on them as well
- Maximisation of profit- By outsourcing, companies have more chances for exposure. They can expand their businesses as well because KPOs are cost effective compared to having an inhouse resources
- Quality of service- As KPOs provide services backed by latest technological, their services are qualitative in nature
The future scope of KPO is tremendous and every company will need KPO services to outperform their competitors. The main challenge one can face in KPO is the ever-growing learning process because technology changes day by day. So it is important to be updated.
If you are looking for some KPO services, connect with us to derive the benefits of working with a professionally managed firm.