KPO Full Form
What is the full form of KPO?
Knowledge process outsourcing (KPO) is the outsourcing of essential information-related corporate functions. KPO entails assigning tasks to people who often have advanced knowledge and competence in a specialised field.
Workers from a different company or a division of the same company may perform the information-related work. The subsidiary could be located overseas to conserve money or other resources, or it could be in the same nation.
Knowledge process outsourcing is the systematic assignment of relatively complex tasks requiring in-depth knowledge or problem-solving to an external organisation or third party with a high level of specialised knowledge, frequently situated in a different geographic area than the company itself.
Reasons For Knowledge Process Outsourcing
Companies use KPO services when they need specific knowledge and expertise but cannot find those knowledge bases or skills internally. However, organisations who outsource KPO often do so to cut costs by recruiting talented people in a different place who are paid less rather than hiring one directly as an employee. Businesses go to KPO in the ideal scenario to simultaneously acquire a highly skilled personnel at a cheaper cost.
Types of KPO Services
Examples of typical KPO outsourcing industries include:
Financial consultants
Research and development
Business operations (management consulting)
Technical analysis
Investments
Legal
Medical & healthcare
Advantages of KPO
Cut costs.
Using knowledge Enhanced
Operational effectiveness
There are many graduates (educated workers) available for low prices.
Less skilled workers are needed.
Favourable to the economy and helps to lower unemployment.
Provides human resource management and flexible time management.
Disadvantages of KPO
Less security exists.
It is impossible to guarantee the integrity of the workers or the calibre of the work.
Due to linguistic, cultural, and legal barriers, there may be complications caused by the lack of communication between the parties.
retaining key talent.
Other Related Full Forms
Frequently Asked Questions (FAQs)
Although a few businesses started offering higher-end, knowledge-based services as early as 1997, this trend did not really take off until 2003. In September 2003, Ashish Gupta, the Chief Operating Officer of Evalueserve, was the one to coin the term "Knowledge Process Outsourcing" (KPO).
Two types of outsourcing that businesses frequently use are BPO and KPO, particularly when it comes to call centre operations. KPO call centres handle information, knowledge, or data on behalf of a client organisation, whereas BPO call centres manage procedures on behalf of a client.
A manufacturer who chooses to buy raw materials, add value to them through multiple processes, and then sell the finished product for a higher price is an example of KPO.
Indian KPOs are very famous around the world. Some of the Prominent KPOs are Genpact, Evalueserve, Ugam solution, WNS Global services, 24/7 customers, EXL services, Copa Partners and so on, there is a long list for Indian KPOs.
In total there are 300 KPO companies in india
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