If you are looking for KPO meaning, you are in the right place. KPO full form is Knowledge Process Outsourcing which is the process of outsourcing the core and other information-related activities of a business to other companies and out of company bodies. A company located in a different country or company's subsidiary can carry out information related work by its employee force, it is called a KPO business.
The main reason why companies prefer KPO in the first place is due to the purposeful allocation of many complex tasks that require special knowledge or problem-solving ability. This could be creating an application, writing a Press release for the new product launch or creating an ad campaign for the company's anniversary. A KPO can do all these tasks.
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(Infosys one of the leading Indian KPO’s Mysore campus, India)
One thing you should know is that a KPO is different from BPO, which stands for Business Process Outsourcing. In BPO, the outsourcing of labour and other operational work is given out to a third party to reduce the cost. KPO, in general, is a subset of BPO which requires far more specialised and analytical knowledge of a given task. This is the KPO full form and meaning described thoroughly.
There are several KPO companies in India, one of the most prominent and well-known KPO in India is Infosys. It is one of the first KPO in India which was founded in 1981, and now it is a billion-dollar company having its headquarters located in Bengaluru, India. Other KPO companies are Deloitte, Eclerx, Boston Analytics etc.
If you want to build a successful KPO, you first need to understand the requirements of your clients and think according to your client's perspective. Its working is one of the essential parts of someone's business strategy, so before you start working on the project, you should know what the requirements of your client are.
Also, when you are running a KPO, you should be developing a product keeping in mind that the end goal is to build a better relationship with end-users. You can build a better reputation for your business when you can drive strong integration and communication with individual business end-users.
When selecting employees for a job, you should be picking up people who are best in the business. One of the critical factors that decide the success of KPO is the right choice of team members. In KPO, each individual is in direct contact with the client and is responsible for the quality and the output of his or her product. If there's been any mistake, it could lead to frustration from both the ends.
Lastly, there is a need for a culture and specialised ecosystem that makes a KPO successful in the long term. If these two are present in your company, you will be able to get hold of a disproportionate share in the market.
A KPO business is an answer to all your worries from the capital crunch to the inability of skilled personnel. KPO is a one-stop for all your complex technical problems. India is one of the best destinations to search for a KPO.
Most of the well established KPOs in India have a long history of providing services to international clients from all over the world. You can partner up with any of the top 10 KPO companies in India for your offshore work requirements. Many international brands and companies are now able to see the benefit of working with Indian KPOs.
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(A meeting is underway in a KPO conference room)
India has the highest youth population and every year more than 2 million students graduate with a technical bachelor's degree such as Be.tech and B.E. As a result, there is no shortage of brilliant technical minds.
Now that you know the meaning of KPO, let's discuss its benefits.
First, a company chooses KPO instead of hiring an in-house team because it is cost-effective. With KPO services from nations such as India, you can save up to half of your current operating cost.
KPO requires technical mastery, so it's not in the hands of anyone to provide you quality.
For quality KPO services, you need to work with highly qualified professionals who have all the knowledge in their field.
When you are outsourcing, you have more time to concentrate on the business side of things.
KPO providers are some of the most advanced companies in the world as they are using all the latest technology and software to get their work done in a short time while maintaining quality.
Q1. What is the difference between the KPO Business and BPO?
Ans: KPO: These are knowledge process outsourcing which helps in outsourcing the critical functions of the business along with information related activities. In other words, you can say it is an extension of one of the business process outsourcing models.
BPO: When companies go out for contracting function, segments and other processes of its business to a third-party provider, that's when you call it BPO process. The two main parts of BPO are front office outsourcing and back-office outsourcing. The operations are already proven and predetermined.
Q2. What are the different challenges one has to Face in KPO?
Ans: One of the main difficulties is to retain professionals in various fields. The other challenge KPOs face is the ever-growing competition. Even in small cities of India, you can easily find a number of KPOs running and giving job opportunities to local students. Countries such as Israel, China, Ireland and Russia are stepping in the KPO business, thus, making it hard to get a good client. KPO needs to be one step ahead of its competition, so they need all the latest technology and infrastructure.