KPO Full Form

The full form of KPO is Knowledge Process Outsourcing and it is the main attraction of this study. The present study is going to provide information about KPO and its different aspects of it. It is considered to be a form of outsourcing where the information and knowledge related work of a company is carried out by another company within the same organisation. This can also happen in different organisations and the main motto of it is to reduce costs. It seems to be a process of Business Process Outsourcing (BPO) and KPO is better than BPO and is more special.   

Discussion on Knowledge Process Outsourcing

There are different kinds of services provided by Knowledge Process Outsourcing and they can be divided into four categories. They are- Data management, Business research, Performance management, and Data analytics. Data management means the solution of problems of data storage, integration, and data sharing in the business field. Business research has provided consulting strategies and research services for giving answers to the questions of the business. Performance management provides the efficiency and the stability of performance measurement in the industry. Data analysis is the process where the problems of business have been discussed and insight has been given on data analytics. 

KPO helps to provide jobs to individuals who have advanced degrees and are experts in a specialised area. In this area, KPO includes market and legal research, accounting, content creation and web design. BPO and KPO often have been conducted through offshore outsourcing as it needed cooperation. It can be seen that in this country where wages are lower, cooperation seeks the most value for the least money source. It can be seen that KPO typically involves a component of Research Process Outsourcing (RPO), Business Process Outsourcing (BPO) and Analysis Process Outsourcing (APO). KPO business process provides advanced analytical skills, domain-based process and business expertise rather than just process expertise.

In this field, there are also some disadvantages of KPO such as it is not a secured process. Key talent retention has been seen in this process and is considered to be a disadvantage of this process. In this process complications can be created as a lack of communication between the partners have been seen due to cultural, legal, and language barriers. In this process, the quality of the work and the charter of the employees cannot be assured.            

Importance of KPO

KPO is famous for the increased value of its products and services and for its operational proficiency. It is a very helpful process that helps in reducing the complexity of the company and helps the human resources. India is considered to be the most preferred destination for Knowledge Process Outsourcing. It has different favourable factors just like friendly government policies, availability of skilled, cheap labour, and English speaking workforce. The service of KPO provides intellectual property, all types of research, equity research, information gathering, training and consultancy, business and market research, and medical services. These are also considered to be the types of KPO and play a significant role in the business.

In this field, it is also important to note that KPO has some advantages and it is an important aspect of this process. Knowledge Process Outsourcing helps in reducing costs and also helps to increase operational efficiency. The utilisation of it can be seen in the expertise field and it also needs a less number of skilled employees. In this field availability of an educated workforce can be seen at a nominal cost. It is very helpful for decreasing unemployment and also helps in the growth of the economy. KPO is the process that provides flexible time management and Human resource management. 

Difference Between KPO and BPO

There are some differences between Knowledge Process Outsourcing and Business Process Outsourcing. BPO is considered to be a branch of outsourcing and KPO is the outsourcing of important business and information-related activities. There are different types of BPO such as Financial BPO, Data Entry Processing, Call centre, Healthcare BPO and many more. On the other hand, KPO is in Business research, Data analysis, Market research, Legal process outsourcing, Education and learning solutions, Creative design and many more. KPO has some benefits such as increased competitiveness. Another benefit is easy access to experienced professionals. The benefits of KPO are that it helps in higher profit margins and also in core business concentration.    

Conclusion

The study can be concluded in this way that KPO is a very important concept and is very helpful in the business field. This important aspect mainly deals with information and knowledge related work of a company which has been carried out by different companies.