Challenges & Advantages for Indian KPOs
The knowledge process outsourcing and the high end business process outsourcing services have become an ever growing phenomenon for providing excellence in market and business research.
The KPO industry constitutes of 70% market share in India. KPO enterprises offer brilliant services at minimal costs in business intelligence, data mining, analytics and reporting, especially content and publishing.
According to research experts, the KPO industry in India is expected to grow to 17 million dollars by 2014, from its current value of 9 million and it is anticipated to grow at a whooping rate of 24% for coming years. According to ASSOCHAM, Associated Chambers of Commerce and Industry of India, this industry faces competition from nations like Philippines, Russia and some other European nations such as Hungry and Poland are not far to take the top place.
Challenges of KPOs
The recent recession has affected many industries including the KPO and the BPOs. Revenues have been dropped to an all time level. KPO industry is at a maturing age, it needs to divulge out from research and analytical skills and offer exclusive solutions for diverse industries such as pharmaceutical, legal management and clinical management etc. In recent times, there is a dip in availability of expert researchers who are being acquainted with the right skills for delivering quality research.
The BPO and KPO industry needs to understand customer behavior and create new approaches to fulfill the increasing demands of the customers all over the globe. In addition to this, the KPO companies must develop new and strong tools to maintain security and confidentiality of client data.
Extensive investments are being made in the areas of infrastructure, buying business analytical tools and technology in data security. The financial crises has affected both KPO and BPO industry, it has been a down slide in achieving higher revenues. In this competitive market, the nations which constitute the Indian sub-continent such as China and Sri Lanka are becoming places of great demand in providing services in pharmacy and health care.
Advantages for Indian KPOs
Knowledge process outsourcing enterprises have an edge over the other nations in terms of available skilled man power in sales and business intelligence, experts in diverse domains and knowledge compliance. Indian KPO enterprises offer a spectrum of services to get optimum solutions for your requirements. There highly educated professional acquainted with expertise in analytical and problem solving skills.
Each KPO enterprise has their own unique business models and they offer diverse industry specific solutions integrated with their business models.
The BPO and KPO companies in India have extensively worked to venture into new areas to give clients a reason to smile and encounter customer needs in a cost-effective and hassle free manner.