Friday, August 20, 2010

*CAREER IN KNOWLEDGE PROCESS OUTSOURCING INDUSTRY*

 *CAREER IN KNOWLEDGE PROCESS OUTSOURCING INDUSTRY*

 Knowledge Process Outsourcing or KPO industry has emerged as one of the
highly paid and rewarding career options from last few years. It has
excellent earning potential for the candidates with technical and
analytical skills in different areas of expertise including engineering,
medicine, pharmacy, legal, architecture, finance, economics or journalism.

Knowledge process outsourcing (KPO) is referred as a form of outsourcing
whereby the knowledge related work is performed in an organization or by
a division of the same organization, which may be in the same country or
in an offshore location to save the cost. In contrast to the outsourcing
of production or manufacturing, KPO has specific focus on knowledge
expertise and high-value knowledge based work. In contrast to BPOs, the
KPO professionals are not kept busy in receiving and replying to the
customers? phone calls only.

KPO industry involves high-value tasks carried out by organization. KPO
industry is always in need of candidates with proficiency in advanced
information search, analytical, interpretation and technical skills
alongwith the professional and decision-making aptitude. It is one of
the growing fields and generating lots of job opportunities for
candidates having proficiency in their domain. 


KPO is not restricted to
a particular stream rather it prefers employees from diverse academic
backgrounds. It helps in getting different perspectives for delivering
quality work to the clients in global market. In last 5 years, there has
been a strong requirement of engineers, CAs, doctors, MBAs, lawyers,
research analysts, scientific researchers and Ph.Ds. India has lots of
intellectuals to fulfill the growing need of KPO industry in all the
fields. In-depth domain knowledge with conceptual understanding is the
key to success and growth in a KPO establishment. One can make full use
of his/her educational qualifications and can earn a handsome salary
package while working in a KPO. Good performers and intelligent
candidates have tremendous opportunities in KPO organizations in terms
of growth, salary package, managerial responsibilities, positions and
designation.

KPO is a quick-money sector and provides long-term jobs as well.
Well-educated, intelligent, knowledgeable, analytical and deserving
candidates can make handsome money in this sector, far more than that is
being paid in the BPO sector.

India is a country rich in educated and talented people, competent in
handling knowledge-based work and research with efficiency. India is
famous in the world for its hardworking and intelligent people. With
this talented pool, India has appeared as a global KPO hub with
specialized knowledge workers in respective verticals. In a statement,
former US President George W Bush also warned the American school
children that if they will not gain the skills needed to compete with
their counterparts from India and China, new jobs would go to those
countries.  He was addressing a magnet school in Maryland.

Now it is the fairy tale and moreover misconception that Indian
companies are having ?Software Labor or Software Coolies?, but Indian
stuff is now preferred in almost every stream. India has a pool of sharp
knowledge workers in different sectors ranging from Pharmacy, Medicine,
Law, Biotechnology, Education & Training, Engineering, Analytics, Design
& Animation, Research & Development, Legal, Paralegal Content and even
Intelligence services.

This talented generation is now given attention by leading business
giants across the globe which results in the outsourcing of high-end
processes to low-wage destinations.

KPO organizations, in addition to providing expertise in the processes
themselves, often make many low level business decisions - typically
those that are easily undone if they conflict with higher-level business
plans.

KPO industry is more concerned on value chain rather than a traditional
BPO company that provides basic backend or customer care support.
Knowledge Process Outsourcing (KPO) is concerned with the highly skilled
outsourcing services including document writing, global filing, prior
art searches, legal advise on infringements, invalidation search,
freedom of use search, executing standardized processes and requires
advanced analytical and technical skills.

*The KPO services that are outsourced to **India** are*

    * Research & Development
    * Business and Technical Analysis
    * Learning Solutions
    * Animation & Design
    * Business & Market Research
    * Pharmaceuticals and Biotechnology
    * Medical Services
    * Writing & Content Development
    * Legal Services
    * Intellectual Property (IP) Research
    * Data Analytics
    * Network Management
    * Training & Consultancy

India has hardworking and proficient knowledge workers to meet this
emerging sector's challenges and bringing foreign currency in India.


    KPO VERSUS BPO

The demarcation line between KPO and BPO is very thin. Generally, KPO
and BPO are closely related to each other. BPO industry handles the
problems in a pre-defined and pre-processed way. Business process
outsourcing (BPO) is a broad term which refers to outsourcing in all
fields. A BPO differentiates itself by either putting in new technology
or applying existing technology in a new way to improve a process.

Business Process Outsourcing (BPO) is the delegation of one or more
IT-intensive business processes to an external provider that in turn
owns, administers and manages the selected process based on defined and
measurable performance criteria. Business Process Outsourcing (BPO) is
one of the fastest growing segments of the Information Technology
Enabled Services (ITES) industry.

Mainly transaction processing is the area of concern in BPOs. The
transaction processing in BPO may include

·        Customer Support Services

·        Technical Support Services

·        Telemarketing Services

·        Employee IT Help-desk Services

·        Insurance Processing

·        Data Entry Services / Data Processing Services

·        Data Conversion Services

·        Scanning, OCR with Editing & Indexing Services

·        Book Keeping and Accounting Services

·        Form Processing Services:

·        Internet / Online / Web Research

·        Provident Fund and Gratuity related services

However, there are so many benefits associated with BPO industry, still
money is not only the concern that matters to a person?s life. There are
many reasons because of which a BPO professional change his/her job.  In
BPO industry, initial salary is, no doubt, is very good but it stops at
a certain level.



Here are some common problems or reasons due to which candidates leave
the BPOs after some time -

    * Limited Growth in terms of Salary
    * Scope of promotions not satisfactory
    * Rude behavior of callers/customer while attending the phone calls
    * Urge for shifting to programming/development for high salary and
      growth
    * Salary hike stops at certain level
    * Willingness for Higher education and to shift in managerial
      designation
    * Disturbance in personal life
    * Physical strain and stressful work culture
    * Odd Shift Timings and restless life


    SERVICES PROVIDED BY KPO COMPANIES (AREA OF WORK)

KPO helps in transfer of domain specific expertise of higher level
rather than process expertise. The high-end services, which Indian KPO
sector provide, are:


  Intellectual Property Investigation

·        Prior Art Search

·        Patent Writing

·        Patent Drawing

·        Invention disclosure drafting

·        IP Overlap Analysis

·        Patent Claims Mapping

·        Patent Proofreading

·        Claim Analysis

·        Patent File History


  Legal Research Services

·        Legal Research

·        Legal document review

·        Litigation Support

·        Legal Coding

·        Legal Proofreading

·        Scoping

·        Legal Document Management

·        Legal Publishing


  Data Research & Data Analysis Services

·        Online Research / Secondary Research

·        Strategic Market research

·        Equity Research

·        Fixed Income Research

·        Quantitative Analytics

·        Business Research and Analytics

·        Financial Analytics

*Market Research*

·        Data Processing and Analysis

·        Web Survey Analysis

·        Marketing Questionnaire Design

·        Media Research

·        Online Research

·        Multivariate & Bivariate Analysis

·        Quantitative Market Research Services

·        Business Market Research

·        International Market Research

·        Market Research Surveys

*Financial Market Research*

·        Applied Investment Research

·        Financial Analysis

·        Financial Accounting

·        Business Research

·        Investments Research

·        Credit Research

·        Equity Research

·        Financial Analysis and Financial Statements

·        Tax Preparation

·        Financial Data Entry & Conversion

·        Competitive Business Analysis

·        Syndicated Research

·        Trend and Competitor Analysis

·        Company Profiling


  Database Development Services

·        Data Enhancement

·        Database Hosting

·        Clinical Data Management

·        Database Publishing

·        Reporting and Business Dashboards

·        Data Mining


  Medical Writing Services

·        Medical Writing

·        Medical Editing

·        Medical Content Enrichment

·        Attribute Extraction

·        Medical content classification


  Content Development Services

·        Technical Writing

·        Web Content writing

·        Fiction Writing

·        Proofreading Services

·        Editing Services


  Animation And Simulation Technology

·        Forensic Animation

·        Simulation

·        2D and 3D Animation

·        Virtual Reality Systems


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