Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments of its supply chain. BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact centre services. BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighbouring (or nearby) country is called nearshore outsourcing.
KPO stands for Knowledge Process Outsourcing. The services of KPO includes research, information gathering etc. It is regarded as an information driven process. The aim of every business will be to build a unique value with the help of their business expertise thus resulting in superior productivity. A KPO firm requires considerably more skilled personnel. Experts working in KPO keep on learning and accomplished professionals can power their aptitude to produce more incomes for the KPO firm. The main difference between a KPO firm and a BPO firm is that in a KPO firm, the customer is included amid the whole execution process. KPO firms additionally provides their customers with high end services. The pay of KPO representative is much higher than offered to the BPO worker as the individuals working for KPO are exceptionally qualified. The Indian National Association of Software and Service Companies (NASSCOM) estimated the total market size of the KPO sector in India in 2006 to be $1.5 billion. The year before, 2005, it had been $1.3 billion, with Evalueserve predicting that by 2010 it would be some $10 to $15 billion. The Indian government was predicting that by 2010 India would have 15% of the global KPO market. However, the global financial crisis, coupled with domestic economic problems such as the IPO of Reliance Power in 2009, caused people to re-evaluate these predictions, incurring worries that India's IT, BPO, and KPO sectors - which by then, combined, were $8.4 billion in export revenues - would be greatly affected by these factors. The worldwide KPO industry is expected to reach about US $17 billion by 2015, of which US $12 billion would be outsourced to India. Furthermore, the Indian KPO area is likewise anticipated that it will utilize more than 2, 50,000 KPO experts by 2015.
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Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments of its supply chain.Read More
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