KPO, a new innovation in the outsourcing market

Outsourcing markets have contributed to the success of many businesses. In fact, these days, most businesses depend on outsourcing markets to enhance their profit prospects.

BPO has been one of the most famous and productive outsourcing method in the industry. It created many jobs, offered cost savings and long-term investment benefits to various industries.

The outsourcing industry has boomed with the advent of a new technique known as Knowledge Process Outsourcing. Knowledge Process Outsourcing (KPO) is a process wherein businesses outsource high-end knowledge or judgment services.

These services include investment banking research, sales & marketing research, IP/ Patent research, R&D, legal research & case writing & animation design. The provider in this field requires being well equipped team that possesses strategic skills, education and ability to think independently and utilize their creative & innovative thoughts to achieve productive output in any research criteria.

KPO also involves a great degree of execution risk as providers look forward to create and combine complex level of process, technology & services.

KPO is not an extension of BPO. It can be said that KPO is one step ahead of BPO. Knowledge process outsourcing offers domain-based processes in conjunction with business expertise that is a straight contrast to BPO as BPO is only expert in providing process skills.

Few countries have been very successful in offering KPO services such as India, Philippines & China. These countries enjoy the wealth of knowledge and this is exactly what requires attaining expertise in offering KPO services.

The future of KPO is very bright, as KPO expertise is not confined to information technology. KPO has widened its horizon to other services such as Intellectual Property related services, business Research & Analysis Legal Research, Clinical Research, Publishing, Market Research.

In the near future the global KPO sector is expected to grow at a CAGR of around 45%.

Author: KPO

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