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Wednesday, December 28, 2005

The Rise Of KPO

Several months back I wrote,Every form of digital data – creation, transformation and reporting is up for grabs in the offshoring world. Eric Keller was indeed right when he wrote, took Japan more than 30 years to obtain a strong position in key U.S. industries, such as Automotive and Consumer Electronics and that It will take half as long for India to do the same for service-oriented industries with IT leading the charge. Britton now writes, "Get Ready for Knowledge Process Outsourcing". As he sees it, the next wave of offshore outsourcing will revolve around high-end knowledge work. It may also have important implications for companies engaged in customer analysis and intelligence initiatives.
Different waves of outsourcing – from manufacturing to IT to business process have all been quite beneficial to business by and large and the upcoming trends is about knowledge process outsourcing (KPO) - outsourcing meets customer intelligence. KPO refers to knowledge-intensive work that involves specialized domain expertise. High value processes that fall into this realm: valuation; research; investment researches; patent filing; and legal and insurance claim analysis. That would certainly include customer analytics and related processes. Some see KPO business in industries such as pharma, biotech, management services, financial services, technology research, engineering. But other skills that are directly relevant to those engaged in customer intelligence work have been mentioned including financial analysis, data integration, and research and analytics.
As we echoed G.B.Prabhats's view,Across every industry spectrum, there is potential for knowledge work to relocate to India. In fact numerous studies/ discussions with industry CIO's have confirmed the firm arrival and growth of knowledge process outsourcing, A paper prepared by the Confederation of Indian Industry (CII) reveals that KPO would grow at 46% to reach a staggering US$ 17 billion by 2010. India’s transition from being a BPO destination to a KPO destination is imminent. The paper lists areas with significant potential for KPO include pharmaceuticals, biotechnology, and ICT, besides legal support, intellectual property research and design and development for automotive and aerospace industries. India stands to gain from its inherent strengths in the healthcare sector, pharmaceutical and biotech sector and ICT sector. India could emerge as a global KPO hub as the business requires specialized knowledge in respective verticals and the country's large number of engineering and technical institutes are geared to address the manpower demand. Clearly as in IT Outsourcing India is emerging the clear favourite here. India: The next knowledge superpower - Today & The Way Forward covered a widescope perspective about the readiness of the nation to offer such sophisticated services. New Scientist wrote sometime back ,there's a revolution afoot in India. Unlike any other developing nation, India is using brainpower rather than cheap physical labour or natural resources to leapfrog into the league of technologically advanced nations. Every high tech company, from Intel to Google, is coming to India to find innovators. But the revolution is not confined to IT. Crop scientists are passionately pursuing GM crops to help feed India's poor. Some intrepid molecular biologists are pioneering stem-cell cures for blindness,while others have beaten the odds to produce vaccines for pennies. From a beneficiary perspective, like early IT services offshoring inititors gained more through IT outsourcing, in KPO as well, early movers would stand to gain a lot more.

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"All views expressed are my personal views are not related in any way to my employer"