The Future of KPO
We just know that outsourcing is a growing industry and KPO is one of the fruits of such development. The question now is about the future of KPO.
Genpact president and CEO Pramod Bhasin had some interesting views about the future of KPO. According to the CEO, the market for such industry is huge and the demand would be rising as well. Here is his "interesting" viewpoint:
The market for KPO will be huge, but it will always be a subset of business process outsourcing. If it does, what can break out (of the business process outsourcing structure) may be something like legal process outsourcing. This, however, will always cater to a very niche market.
There is room for separate KPO, but again, it is very niche. There are specific processes that can stand separately, like legal process outsourcing, architectural design process outsourcing, portfolio analysis and database analysis. The market hasn't even been scratched yet even though these services are nothing new. Some of these services have been around for 10 years, like analytics.
I have to agree on what he is saying. Not all industries would be able to handle KPO because the tasks here are very specialized. If KPO would indeed grow, the system behind it should develop more because of the scope of its work.
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According to a report by GlobalSourcingNow, the Global Knowledge Process Outsourcing industry is expected to reach USD 17 billion by 2010. A report by Evalueserve predicts that India will capture more than 70 percent of the Knowledge Process Outsourcing sector by 2010. Apart from India, countries such as Russia, China, the Czech Republic, Ireland, and Israel are also expected to join the Knowledge Process Outsourcing industry.
The future of KPOs is not restricted to the ITES sector alone. It spans other sectors like legal research and documentation, business research and analytics, Clinical research, publishing, market research….
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Comment by Outsourcing Company on May 19, 2008 3:53 am