September 8, 2011: Knowledge Process Outsourcing (KPO) is growing as one of the most preferred platform for business after outsourcing technology, information and other services.
The global outsourcing business is witnessing a slow downward trend today and is expected that this trend may continue for another two years. Companies in the IT and outsourcing sector are finding it quite difficult to cop up with the situation. It is evident that any disturbance in the US economy has an impact on India. The condition in US is getting worse daily and recession hit is expected any time.
At this point of time, Indian companies find that it is more beneficial to concentrate more on Knowledge Process outsourcing (KPO). The KPO sector basically deals with knowledge solutions related to market research and other statistical analysis for companies. More over it also deals with legal and health related solutions and services. India which is rich in knowledge and has well educated human resource can deliver the best Knowledge Solutions for clients.
Experts believe that focusing on Knowledge Process outsourcing (KPO) will help the industry to bring in new business dealings and contracts which can overcome the current downtrend in the sector as such. It is also expected that Knowledge Process outsourcing (KPO) will also leverage the business in the sector up to 40 – 50 % more then the current dealings.
India is now among the best option for business dealings in KPO sector because India is well equipped with educated employees and has experts with reengineering capabilities to improve the present service and make it more acceptable world wide. The country also has top class capabilities to overcome rivals. Indian Knowledge Process outsourcing (KPO) industry is well versed in services in financial consultancy, legal services, medical services, data analytic and much more.
Today around 70 % of the world KPO business is captured by Indian service sectors. Foreign countries are looking forward to take necessary steps to reduce cost incurred in business. New strategies adopted by these nations suffering from economic instability also includes depending on Indian KPO vendors. Even though Philippines has been reported as one of the best option for outsourcing after India, many US and UK based companies are looking forward to depend on India for KPO business.
India is a nation which has been affected the least by economic crises. The nation has a strong economic foundation and as a result the foreign countries are more interested investing Indian Business Process Outsourcing (BPO) or Knowledge Process outsourcing (KPO) sector.