How knowledge process outsourcing can serve you

An extension of the business process outsourcing (BPO) is knowledge process outsourcing (KPO). Dealing primarily with the higher end activities in the BPO segment, the KPO industry has seen tremendous growth in the past few years and is all poised to grow even further during the next few years. 

The level of employees in KPO industries is obviously much higher than in the BPO industry. This is because it requires advanced knowledge and technical skills. To gain a competitive edge in today’s market, companies make use of KPO services. The main fields of study included in this segment are analytics, business research, forecasting and intellectual property research. All of these require skilled personnel to carry it out. Let us look at these services in detail.

Data analysis is one of the more popular knowledge services outsourced. Almost all companies require this service to have a competitive edge in the market. Analytics involve going through various websites, databases, emails and social networking sites to find out data that could be useful for a company. The amount of data that is produced every day is daunting for companies to go through. It requires special software and tools to go through them.

Business research is another popular service that is required by companies. It involves going through the information about a company’s competitors, customers and their own policies to understand the areas that might require improvement. This is done with the view that research can point towards problem areas and allow companies to take the required steps or formulate strategies to better their business. 

Forecasting uses financial research about companies along with their balance books to come up with a rough estimate of how the business will perform in a particular fiscal year. This is a complicated service that bigger companies employ to find out key areas of growth and be forewarned about potential problems. 

Intellectual property research is another service that has seen a large amount of growth in the past few years. It deals with literary, musical and other artistic work and aims at giving exclusive rights to the owner of the work.

Considering the high cost involved with companies setting up these offices as well as hiring highly skilled people, it is a much better proposition to outsource the knowledge needs to a country like India. Liberal government policies coupled with the availability of cheap and skilled manpower makes India a perfect destination for these services and as such has led to tremendous growth of KPO in India.