On time delivery of services
Increase in profits.
Adaptability to changes in required quality
Option to recruit a larger work force without raising costs.
Help gain a competitive edge in the market by enhancing the efficiency of the processes
Evaluation of KPOLPO
LPO is known as legal process outsourcing. LPO contains a wide range of legal processes likepatent application drafting, legal research, pre-litigation documentation, advising clients, writingsoftware licensing agreements and drafting distribution agreements.
RPO refers to Research Process Outsourcing. This is mostly applicable in the biotech industry.Clients outsource their R&D work.Alternatively RPO is also known as Recruitment Process Outsourcing. RPO is identical to HumanResource Outsourcing (HRO). The RPO team mostly handles all the recruitment.
HRO indicates to Human Resource Outsourcing. HR contains a group of activities like payrollmanagement, training, staffing, benefits administration, travel and expenses management,retirement and benefits planning, risk management, compensation consulting, etc. Theseactivities are outsourced so that the owner can concentrate on the other aspects of the business.
MBPO is termed as Medical Business Process Outsourcing. Apollo Hospitals is the first major hospital to be getting into this.
Future of KPO
Current trend and future prospect of KPO is highly potential. Current estimates of the KPO marketstand at anywhere from $1 to $3 billion assuming an average revenue per person of $55,000 over the next four years. The global KPO industry is expected to top out at a whopping $17 billion by2010, of which $12 billion would be outsourced to India. KPO industry employed approximately106,000 professionals in 2006-07 and is predicted to grow to 350,000 in 2011-2012.India's KPO sector is forecasted to acquire USD 11.2 billion in 2011-2012; and the equityresearch and investment banking domain currently represents one of the fastest growing areas of analytics offshoring.The Indian KPO sector is expected to employ more than 250,0000 KPO professionals by 2010.India will detain more than 70% of the KPO sector by 2010. Apart from India, countries such asRussia, China, the Czech Republic, Ireland, and Israel are also expected to join the KPO industryIndia provided $3.5 billion of BPO and KPO (but non-IT) services in 2003 and is expected to growat a CAGR of 36 per cent during 2004 to 2010. Hence, it is likely to earn $30 billion in 2010 byproviding these services.Useful Links: