Outsourcing financial research, business intelligence and retail market analysis are the key objectives of Knowledge Process Outsourcing or KPO. Here work is primarily based on information with outsourcing to save costs. This has taken the tasks performed by companies to a more advanced and higher level service to resolve complex problems. However, in comparison the Business Process Outsourcing Industry is still providing services for simple works like data entry, bookkeeping, data merging and more.

At present, the market analysis depicts that the share for KPO is about $1-3 billion and is expected to rise substantially to 10-12 billion by 2011. KPO provides services in many areas which include analytical services, pharmaceuticals, biotechnology and market research. A majority of the KPO service providing companies are located in India, Israel, China and Russia with expertise and skills in the field.

KPO Services

• Business and Market Research

• Pharmaceuticals and biotechnology

• Engineering design and development

• Animation and Design

• Medical Services

• Data Analytics

• Educational services

• Training and Consultancy

• Legal solutions

• Writing & Content Development

• Intellectual Property (IP) Research

• Network Management

• e-Marketing

• Retail Industry

Benefits Of KPO

KPO companies emphasize on such employees that in-depth knowledge and have expertise in certain areas of the work. Most customers prefer focusing on specific services rather than those who provide a variety of IT, BPO and KPO services. Hence, it is important for KPO companies to develop skills in a particular area of work and specialize on it.

When using business outsourcing services the primary advantage is a marked reduction in the costs. Over 40-60 percent expenses are reduced with outsourcing services which is quite a significant amount in the long term. KPO brings in several opportunities for a business to grow and expand in a short time. With strategic planning and skills workforce, a KPO team offers research and advice which allow small business services to rise in their industrial sector. They specialize in the field of work and are beneficial in providing innovative ideas for businesses to incur profit while promoting their products significantly.

KPO services allow interaction with some of the best brains in the field without necessarily having to hire them permanently. Businesses often do not obtain the desired expertise and skills in a particular job which can be resolved by incorporating KPO services with easier access to quality intellectuals. A good KPO service provider might be able to offer fast delivery for different modes like offshore and onshore. KPO allows organizations to come closer together and create a global business community.