KPO Full Form | Full Form of KPO and BPO
KPO Full Form - Knowledge Process Outsourcing
- KPO stands for Knowledge Process Outsourcing.
- It's a type of outsourcing where knowledge and information related work of a corporation is administered by a special company within an equivalent organization or different organization to save lots of costs and resources.
- It's a subset of Business Process Outsourcing ( BPO ).
- KPO is more specialized and knowledge based as compared to BPO.
Knowledge Process Outsourcing
Importance of KPO
- KPOs are known for his or her operational proficiency and increased value of their products and services.
- It lessens the complexities of the corporate and human resources.
- India has been the foremost preferred destination for KPO due to various favorable factors like availability of skilled and English speaking workforce, friendly government policies, cheap labour etc.
Knowledge Process Outsourcing
Types of KPO
- KPO service provides all type of research and information gathering, intellectual property, equity research, business and marketing research , training and consultancy, legal and medical services etc.
Advantages of KPO
- Reduce cost
- Utilization of experience
- Increased operational efficiency
- Availability of lot of graduates (educated workforce) at nominal costs
- Need less number of skilled employees.
- Beneficial for the economy and reduce unemployment.
- Provides flexible time management and Human Resource Management.
Disadvantages of KPO
- It is less secure.
- The character of the workers and quality of the work can't be assured.
- Complications are often created because the shortage of communication between the partners due to legal, cultural, and barrier.
- Key talent retention.