Before we begin to understand the role the market plays for KPO jobs; let us first find out what is KPO and how different is it from BPO (Business Process Outsourcing).
As we are aware KPO is short for Knowledge Process Outsourcing, which means this is a process wherein information and knowledge is being processed in another country or by a third part company on subsidized rates.
The services performed within KPO jobs are:
¶ Consultancy and Training Services
¶ Legal Services. Sometimes this service is taken care of LPOs (Legal Process Outsourcing) separately.
¶ Content Research and Development
¶ Financial Services and Consultancy
¶ Research and Development of Information
¶ Healthcare Services
¶ Advanced Web Application Services
¶ Market Research for any Business
¶ Learning Solutions
¶ Data Collection and Analysis
¶ Animation and Design
¶ Network Management
¶ Research on Intellectual Property
¶ Software Development
¶ Medical Transcription
A company who offers KPO services may offer all the above services or offer only few of them; however, since KPO is rapidly growing many KPO companies offer more than just one service.
The difference between KPO and BPO is; in KPO a person should have the knowledge and expertise in a particular domain. For example, let’s take Market Research; a person offering KPO services in this domain must be an expert in market research and analysis wherein in BPO it’s not only knowledge that is required but quantity, the ability, and the quality of work that you deliver matters. Furthermore, KPO is also commonly known to be an extension of BPO with of course it being more a defined valued service.
It is believed that over 100,000 KPO jobs are being sent to India each year because India is known to house skilled professionals like doctors, lawyers, chartered accountants (CAs), software engineers, trainers, etc in abundance. This is not all; it is estimated that more and more KPO projects will be sent to India in the next few years and then the job market for KPO jobs will be on an all-time rise.
Major companies like Deloitte, GE Capital, Accenture, EVS (Evalueserve), MarketRX, Mckinsey & Company, and many more are known to be the top players for KPO services. Some of these companies have recently made an announcement of developing their KPO services in order to take on newer KPO projects from international markets.
KPO is going to be the next big uprising in the outsourcing segment and due to this there will be more and more job openings. Skilled professionals joining any KPO company can be assured that he/she will get a good pay package, job security, and growth.
Men and women with the proper education (preferably an MBA), experience, and analytical skills can look forward to a bright and worthy career in the KPO industry. The main two hubs for KPO companies in India are Bangalore and Chennai.
In closing, if you are still contemplating if you should get into a KPO job then you must do so now as this is the right time.
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