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Knowledge process outsourcing

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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.

Due to a large knowledge pool and a significant cost arbitrage, few countries like India, Philippines, Belarus 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, and Publishing.

Challenges

Though the future appears quite bright, there are also a few challenges which KPO companies face. These include:

  • High attrition rates
  • High cost of training
  • Ensuring information security and confidentiality


Market research

Leaders in the market research industry are slowly seeing the benefits offered by KPO and have begun outsourcing areas where technology can significantly improve the research process. Comprehensive IT solutions are offered in the market by vendors who provide solutions covering the entire life cycle of a market research project. Smaller firms can also benefit from these solutions as they are cost effective and remain within the budget constraints faced by smaller organizations.

Knowledge Process Outsourcing has proven to be a blessing in disguise to efficiently increase productivity and increase cost savings in the area of market research. Organizations are adopting outsourcing to meet their market research needs and the trend is all set to take the global market research industry by storm.

See Also

News

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