ONE POINT BUSINESS SOLUTIONS
Knowledge Process Outsourcing
Outsourcing of fundamental, information-related corporate tasks is known as knowledge process outsourcing (KPO). It is the deliberate assignment of relatively complex tasks requiring specialist knowledge or problem-solving to a third party or external entity with deep domain knowledge. KPO involves hiring people with advanced degrees and specialized knowledge to perform work under contract.
Workers from a different company or a division of the same company may perform the information-related work. The subsidiary could be located overseas to retain money or other resources, or it could be in the same nation.
KPO is distinct from business process outsourcing (BPO), which is contracting with a third party to do operational tasks and labour in order to reduce costs. Despite being a subset of BPO, KPO entails far more specialised, analytical, and knowledge-based labour.
Examples of typical KPO outsourcing industries include Financial advisors, investigation and creation (R&D), Business activities (management consulting), technical examination, Investments, Legal Advice Medical Care, Analysis and interpretation of data.
By developing new procedures or increasing productivity, KPO can assist businesses in lowering operational or manufacturing expenses. Additionally, KPO fills the shortage or need for qualified workers in a given industry. KPO also increases production and efficiency by giving existing workers, including management, time to work on other projects.