FACTOID #129: The five countries with the highest coffee consumption are also the five countries whose citizens trust one another the most. Coincidence? Probably.
Knowledge Process Outsourcing (KPO) is a form of outsourcing. It can be said that KPO is one step ahead of Business Processing Outsourcing (BPO). KPO firms provide domain-based processes and business expertise, rather than just process expertise. Outsourcing (or contracting out) is often defined as the delegation of non-core operations or jobs from internal production within a business to an external entity (such as a subcontractor) that specializes in that operation. ... BPO is an acronym that can refer to: business process outsourcing, the increasing trend of relocating entire business functions to either self-owned or third-party service providers, typically in low-cost locations. ...
Due to a large knowledge pool and a significant cost arbitrage, few countries like India, Philippines and China are front runners in providing these services. The nature of work demands advanced analytical and specialized skills.
In the future, it is envisaged that KPO has a high potential as it is not restricted only to Information Technology (IT) or Information Technology Enabled Services (ITES) sectors, and includes other sectors like Intellectual Property related services, Business Research and Analytics, Legal Research, Clinical Research, Publishing, Market Research (Market research KPO ) , etc. Information Technology (IT)[1] is a broad subject concerned with the use of technology in managing and processing information, especially in large organizations. ... ITES means IT (Information Technology) Enabled Services. ... Analytics is the most sophisticated analysis of data. ... It has been suggested that this article or section be merged into Knowledge process outsourcing. ...
Challenges
Though the future appears quite bright, there are also a few challenges which KPO companies face. These include:
Though knowledgeoutsourcing is in no way a new concept as law firms, doctors and businesses have long outsourced low-end knowledge work, the off-shoring of knowledge for these processes are being leveraged.
The KPO market is currently estimated anywhere from $1-3 billion and is expected to reach USD 17 billion by 2010, of which USD 12 billion would be outsourced to India according to eValueserve one of the incumbents in the space.
KPO services are primarily focused within intellectual property research, R&D in pharmaceuticals and biotechnology, data mining, and a range of analytical services such as equity research and financial modeling.
KnowledgeProcessOutsourcing (KPO) is a form of outsourcing.
It can be said that KPO is one step ahead of BusinessProcessingOutsourcing (BPO).
Due to a large knowledge pool and a significant cost arbitrage, few countries like India, Philippines and China are front runners in providing these services.
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