Knowledge Process Outsourcing
Hi, I’m Conviner, the only call center terminology assistant you need. I’m here to teach you about Knowledge Process Outsourcing (KPO).
The global knowledge process outsourcing market size is valued to reach USD 124.29 billion by 2025. Increasing cost-cutting is anticipated to boost the growth of the knowledge process outsourcing (KPO) industry.
1. What is Knowledge Process Outsourcing?
Organizations rely on Knowledge Process Outsourcing (KPO) services when they need expertise in a particular niche. This is a more cost-efficient approach than hiring in-house talent.
2. What is the Difference Between BPO and KPO?
In essence, both BPO (Business Process Outsourcing) & KPO services are similar. BPO involves the outsourcing of all kinds of services, while KPOs are involved only when in-depth knowledge and expertise in specific domains are needed.
In such a sense, KPO services can be said to be a subcategory of BPO.
3. What are some examples of KPO services?
There are many different kinds of Knowledge Process Outsourcing. Here are a few examples:
- Market Research: Organizations get detailed insights into customers, verticals, industries, and competitor analysis from such services.
- Data Analytics and Insights: Using these services helps organizations get the required data to make decisions driven by data. These insights include customer intelligence and speech analytics.
- Medical Services and Research: All medical requirements, right from testing to detailed analysis, can be outsourced to KPOs.
- Data Management: Services like data storage, management, and integration on the cloud are handled by a KPO provider.
- Accounting and Finance: All accounting services right, from maintaining payroll data to verifying invoices, are handled by a KPO.
That’s all from Conviner. See ya next time!
