PRLog (Press Release)
- Feb. 12, 2013 -
With the emergence of information technology and business processes outsourcing, the Outsourcing in the service sector has become popular since two decades and the popularity of this sector has accelerated the evolution of Knowledge Process Outsourcing
(KPO) across the world. Unlike BPO, which involves in the critical and/or non-critical functions of firm, KPO deals only with domain based expert services. Meanwhile, investment and equity research firms and market research companies are major focus for KPO sector whereas BPO has become a commodity business in recent years. KPO has become popular over the past decade, as it provides critical and high-end services to the clients. This sector has reached its peak position after the global financial crisis. This is because, during the period of financial crisis, most of the companies outsourced for enhancing their risk assessment models and also for reducing the labor costs. Different types of service providers ranging from the niche players who provide a single type of service and the multi-service players who offer marketing services, analytics, business research, animation services, legal services and financial research services exist in this sector. With the evolution of this sector, few popular IT-BPO giants have established their market in KPO sector. To sum up, the critical processes handled by this sector and it’s highly qualified as well as proficient employees have made this sector popular. This evolution can be well understood only if we have an idea on the segments of KPO, customer segments, growth rate of each segment and the challenges faced by this sector.