Emerging Opportunity in KPO
According to today’s market, BPO is losing its shine as setting up a call centre is expensive, payment cycles are becoming longer, the competition is intense and margins significantly reducing.
Next to BPO, KPO is the next big outsourcing sector. KPO is the process where we need to do knowledge related and information related work. These works are performed in the same country or in an offshore location to save cost. Kpo engage high end work rather than just performing the back end process. According to recent study by Evalueserve the KPO market is expected to grow from $1.2 billion to $17 billion in 2010.
The KPO is an expansion of BPO industry which allows organizations to perform a huge work.. There are many advantages that can be gained from Knowledge Process Outsourcing.KPO process involves high level processes such as patent filing, investment research, and legal issues. KPO focus on the application of knowledge rather than back end processes. Bpo workers do not have in-depth knowledge in any specific areas. KPO workers require high command over English and computer skill.
In compare with BPO, KPO workers are specialized in particular fields. For example where KPO workers are likely to have specialized knowledge are financial analysis. These professionals are expected to be qualified as a CA or MBA graduate. Knowledge Process Outsourcing companies gives priority to research rather than business processes. This is the opposite of BPO companies. The activities of KPOs are different from BPOs as well. Any activity that requires specialized knowledge will be connected to KPO, while BPO will use a rigid structure for handling business procedures. While BPOs charges $11 per hour, Kpo charges $24 per hour.
The KPO allows a company to quickly plan and market their products through hardware efficiency, market research and competition. Since the today’s market is continued to evolve a rapid pace and only the worker who is ready to adept the change will be the one who succeed.
While Bpo deals with size & volume Kpo deals with depth of knowledge and experience. Around the globe we are facing big challenges such as minimum time to launch products and to promote their product. This paved the way for the KPO industry. A KPO worker deals with international clients on a regular basis since they will be responsible for the whole project coordination. They should be capable of dealing with complicated tasks too. Hence the expertise makes research on the products and advertises through net. KPO involves off shoring the intensive business process which needs to be done with expert team. India has great experts in various sector like law, education & training, Design, Research etc.
Examples of Services which can be outsourced are:
Property research and more
Since KPO requires expertise to make research it face more challenges than the BPO industry.
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