KPO is a business process outsourcing high-end (BPO) which involves the processes that require advanced techniques and analytical skills, as well as judgment and decision-making skills. The scope of KPO functions is very wide and includes areas such as intellectual property, the research activities in pharmaceuticals and biotechnology, data mining and a range of services that include scientific, technical, medical, financial and other. The boom in this sector is the creation of various opportunities in terms of job creation, wealth creation and even real estate value.
The Indian Outsourcing Industry has witnessed tremendous growth in recent years. The National Association of Software and Service Companies (NASSCOM) have predicted that the Indian KPO industry will reach phenomenal growth for 2015 of around 70% of global share KPO. This industry has seen changes in terms of the use of more complex domains and niche fueled by outsourcing services to high-end complex in India.
global companies have been outsourced services to knowledge-intensive in India. However, businesses now Indians have moved up the value chain and increased their portfolio of different verticals and domains to host outsourced specialized services to these global companies. According to an ASSOCHAM (Associated Chambers of Commerce Industry of India) report, the offers of popular services of Indian companies have the capital and financial research, research of intellectual property, business and market research, medical and legal research and research reports.
KPO work is specialized and not scale driven as BPO. Consequently, in recent years this sector has seen the entry and proliferation of many small enterprises with a high degree of specialization. The minimum requirements for the configuration and infrastructure have encouraged companies to enter the field KPO, with freelance becoming a norm.
Initially, KPOs were mainly in urban areas like Gurgaon, Banglore and Mumbai. However, companies are now eyeing tier II cities due to higher infrastructure costs and high dropout rates in urban areas. In addition, many state governments are now being created state of the art IT parks / software to attract such companies.
In today's competitive scenario, outsourcing companies must differentiate themselves and provide specialized services to support the competitive Indian market. As a result, a number of acquisitions and mergers have been observed in recent years. These offerings help companies to acquire specific knowledge field as well as expand its customer base.
pure BPO players are now trying to move up the value chain by providing specialized services because of competition from the KPO companies. In addition, the large multinational companies set up captive in India as they are skeptical about data security and classified information.
There is a growing demand for labor in areas such as capital and financial markets, publishing, clinical trials management, etc. that require highly skilled professionals from the drug, the company secretary and accounting services, and edit fields . Although India does not have a shortage of professionals with intellectual and analytical skills, there have been predictions of labor shortages in the outsourcing sector in India. There is a possibility that if India is able to meet the work requirements of the outsourcing industry booming, customers could seek alternative destinations. Countries such as China, the Philippines, Hungary, Russia and Poland are already vying for these lucrative jobs in outsourcing, offering the same advantages distance, location and cost as India.
The KPO industry in India has witnessed many changes over the years and it remains to be seen how the Indian outsourcing companies are able to support themselves in the rapidly changing business scenarios globally.
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