Knowledge is power, as the old adage goes. Through knowledge process outsourcing (KPO), which is currently emerging as a new sector, it becomes even more powerful, providing long-term employment opportunities for people with intellectual, analytical, and research skills.
This sector involves an array of knowledge-based services such as financial consultancy, research and development, business and technical analysis, market research, pharmaceuticals and biotechnology, learning and educational solutions, writing and content development, animation, legal services, and many more.
Why do companies make an investment in this industry? What are the great potentials of knowledge process outsourcing?
KPO is expected to grow year after year. The expansion of KPO is not to replace the business process outsourcing industry. In fact, both sectors can complement each other, each having its strengths and weaknesses in trying to come up with innovative business solutions.
There are in-demand systems and processes that involve KPO such as the following areas:
- Data entry and processing
- Customer e-mail support service
- Outsourcing of office department
- Technical support service
One primary advantage of KPO is that it pays its people as high as the business process outsourcing industry, or even more.
Many companies have seen it as a wise investment to utilize such services, and thus, bringing their KPO operations abroad where a pool of skilled and trained manpower is cheap and accessible.
KPO helps to save time for maintaining in-house services and set standards for operational efficiency. Through KPO, companies are given the option to recruit and hire a large number of trained and professionals without increasing its expenses.
The role of KPO service providers is to coordinate and collaborate closely with the client in order to determine the terms of work quality and standards. This would ultimately obtain the following expectations:
- Cost-efficient and quality output
- On-time delivery of products and services
- Continuous services and flexibility to changes