First pioneered by Indian service providers, Knowledge Process Outsourcing (KPO) has considerably achieved global impact. It has undeniably surpassed both the Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) sectors when it comes to providing greater value-added services and revenue margins. To date, the KPO vertical is now imposing extensive interest in both private and public sectors making the Philippines one of the top destinations when it comes to providing KPO services.
In the face of a lethargic worldwide economic milieu, BPO and ITO companies are struggling for their continued existence. A number of companies from these sectors are on their way to driving the continual intensification of providing KPO services with the goal of winning the business of those belonging to the sophisticated and higher value-added sectors.
At the heart of the cutting-edge of the dynamically evolving outsourcing service environment, KPO is but relatively distinct from the services being offered by the conventional ITO and BPO culture. KPO requires higher level of competency as it is focused more on methodical and research activities. Needless to say that it is the combination of both knowledge and expertise that is required in the KPO industry.
The global KPO sector is projected to grow at a combined annual growth rate of 23% by 2019, according to Research and Markets analyst group of the Global Knowledge Process Outsourcing Market 2015-2019. This calls for both BPO and ITO service providers to evolve and invest in developing people from fields that require high analytic and research skills. What then drives the rise of KPO services? The adoption of universal standards for qualifications, access to a considerably large pool of experienced and skilled professionals, and enhanced remote project administration potentials as a result of improved telecommunications and sophisticated technologies pave way for the surge of KPO needs and services. Notable as well with the rise of KPO is the way business decisions are made. Decisions that used to be made by those in the COO and CIO levels are now entrusted to department business managers as knowledge and processes are being streamlined more easily.
Outsourcing companies moving from being a BPO to a KPO service provider like Coefficients Co. Ltd. not only enhance efficiency and reduce costs for their clients, they also help their clientele to generate more revenue and provide them with more competitive advantage due to: 1. access to a larger pool of skilled professionals in knowledge concentrated industries, 2. translating fixed costs into variable costs, 3. client companies are given the flexibility to ramp up or right size personnel according to business cycle needs, and 4. the constant implementation of work by taking advantage of time zone differences.
However, not all KPO stories are successful. The KPO outsourcing opportunity can be managed more effectively if a well-crafted KPO strategy will be used. What is ideal with BPO companies transitioning from a BPO to a KPO service provider is that they have a shorter learning curve and less risks of implementing KPO management.
Identifying which specific KPO services would be provided by the service provider is the first step. The team must identify the strength of their organization and everyone must be fully aware of the goals and objectives of their outsourcing effort. Having people in the team who have prior experience with outsourcing tasks is vital paired with their innate ability to provide a higher level of empathy to clients as each project has its human aspect. Other aspects pivotal in providing KPO services are: 1. providing reliability in the way outsourcing projects are being run by the team, and 2. assess adherence to outsourcing techniques and oversee the ongoing performance of the team.
KPO is a good opportunity for employees seeking to move into the leadership roles. Paving way for client companies to develop new products, eventually unveil more services, and understand better new markets and trends in their respective industries, KPO continuously grows and has become a fundamental option for business strategists with both large and small business entities taking advantage of the KPO model. This is a very good opportunity for start-up BPO/KPO companies like Coefficients to constantly evolve and be a one-stop service provider for their clients.
To date, the following are the KPO services being provided by Coefficients:
- Business and Market Research
- Business Consultancy
- Web Design and Development
- Animation and Design
- Mechanical and 3D CAD Designs
- Writing and Content Development
- Data Analytics
- Search Engine Optimization
- Search Engine Marketing
- Advertising Management
To know more about Coefficients and how this company rocks, feel free to visit their website at www.coefficientsco.com. Providing solutions beyond what the conventional BPO company can provide, Coefficients remarkably redefines outsourcing on a daily basis. Multi-hyphenated, multi-faceted, multi-channel. That’s what Coefficients is.
About Coefficients Co. Ltd.
Coefficients currently serves more than 20 global clients in knowledge services. The company’s eventual metamorphosis from BPO to KPO is a very good opportunity for it to be ideally positioned to lead in knowledge-based services via ramping up capacity and honing its people’s competency.
Here at Coefficients, we go above and beyond for our clients. From assessment, to solution design, to training, transition and launch; we cater to every phase and we got you covered every step of the way. We don’t go for temporary aids. We strike to the core.