Most business blogs discuss KPO along with BPO. Perhaps you’ve heard these terms on ads too. Others may see it as a fresh concept and may compare it to business process outsourcing. They may ask: Is KPO better than BPO? Why do middle- and large-sized firms choose it? Learn more about this thriving industry through this blog.
What is KPO or Knowledge Process Outsourcing?
Investopedia defines KPO as “outsourcing in which workers in a different company or by a subsidiary of the same organization carry out knowledge- and information-related work.”
Hence, KPO firms aim to provide business solutions to fulfil the needs of partner companies using their staff skills. Thus, hiring the right set of staff is crucial to any KPO service firms.
Doing Business in the Philippines recent article says, KPO, not BPO, drove the recent growth in the country’s outsourcing sector. Though call centers still take the largest part of the IT-BPO field, the country has leveraged to other fields such as design and research. In fact, offering services related to data research and data entry could give a KPO service firm a good edge over other firms.
The government expects the demand to be more than double by 2022, with an estimated worth of US $250 billion. If this happens, the IT-BPO sector needs to employ over 1.3 million direct staff, thus putting up almost 17% of GDP. In turn, it will be the second largest source of the country’s foreign exchange.
What Are the Benefits and Risks of Hiring KPO Firms?
You might wonder, why do I need to hire KPO companies? Well, KPO sector can help firms, especially start-ups, reduce operating costs and fill the gap or need for experts. It also frees up existing staff to do other tasks and maximize their efficiency.
In contrast, hiring the wrong firm can put your business’ privacy and security at risk. They can lose, copy, or send your private business details to your rivals. This explains why you should be cautious in choosing a KPO firm.
What are the Signs of an Ideal Service Provider?
Since KPO services mark the latest trend in outsourcing, firms offering these services grow at a rapid rate. However, out of this large number, only few succeed. One of the reasons behind this is that KPO calls for more concrete knowledge and skills. If you’re in search of the best service provider, here are ideal factors KPO firms should have.
- Ability to reason and research
- Excellent English communication skills
- Knowledge on using software and programs, especially Microsoft Office
- Expertise in the specific field that needs KPO services
It’s easy to claim that all staff of KPO firms have these essential factors. But why don’t they all thrive? It’s because not all KPO firms realize the value of being an expert in this field. This unseen setback of most outsourcing firms makes many of them think it’s enough to possess basic skills and BPO services experience to thrive in KPO. As a result, many of them fail to grant their client’s demands.
Apart from skills, KPO firms also need to research on market trends. They must acquire an extensive knowledge of the vertical market they want to do business with. Learn the types of KPO services and use this to build a strong brand.
What Are the Types of KPO Services?
Do you need of an outsourcing firm that brings reliable KPO services? You can hire one from the Philippines to get the service that you need. We’ve listed below a list of KPO services to choose from:
- Research and development
- Financial consultancy
- Business and technical analysis
- Business and market research and analytics
- Clinical research
- Web development application
- Intellectual property and patent-related services
- Legal processes
- Data search
- Medical transcript preparation
- Fraud analytics
- Data integration
- Project management
- Computer-aided simulation
- Engineering design
- Technology research
Knowledge process outsourcing encompasses a broad scope. Hence, a business that seeks certain services must be wise in choosing the best provider. Others see the Philippines as an ideal place for outsourcing jobs for many practical reasons. Read on and know why you should consider this country’s KPO providers.
Can You Trust the KPO Industry in the Philippines?
Short answer: Yes! For years, the PH’s BPO and KPO sectors have remained robust amidst the challenges. Hence, it can bring the outsourcing solutions you need. Outsource-Philippines, a leading BPO-KPO service provider, offers a wide range of outsourcing services. It’s a top choice for foreign and local firms for various reasons.
- Country’s high literacy rate
- Local talents’ language skills (written and verbal)
- Grasp of the English language
- Neutral accent
- Bright young pros
- Cheaper labor costs
- Time difference is not a cause for concern
- Highly skilled workforce
- Readily available labor force
- Fast economic growth
- Cultural rapport with Western countries
- Long and thorough lists of successful outsourced tasks
Outsource-Philippines offers KPO solutions such as research and writing. Also, we cater to data conversion, search engine marketing, and graphic design services. Are you looking for web developers and designers? Outsource-Philippines is your best pick! We also offer logo creation, bookkeeping, SEO and others. So, if you need these services or need to know what is KPO from the best provider, contact us! We guarantee clients will get the services they paid for and much more.
Sources: Investopedia | Doing Business in the Philippines