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.
- What is the full form of KPO?
- Reasons For Knowledge Process Outsourcing
- Types of KPO Services
- Advantages of KPO
- Disadvantages of KPO
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.