Knowledge Process Outsourcing
Knowledge process can be defined as high added value processes chain where the achievement of objectives is highly dependent on the skills, domain knowledge and experience of the people carrying out the activity. And when this activity gets outsourced a new business activity emerges, which is generally known as Knowledge Process Outsourcing.
Developed economies are facing great shortage of skilled, trained and specialized professionals in various knowledge-intensive high-skill sectors, such as research and development, engineering design, information technology, financial risk management etc. This is the main factor fueling the rapid growth of Knowledge Process Outsourcing industry. The trust developed through BPO is now being transformed into KPO. Companies overseas are willing outsource more complex and high risk processes.