Knowledge Process Outsourcing

The success in outsourcing business process operations has encouraged many firms to start outsourcing their high-end knowledge work as well. Cost savings, operational efficiencies, access to a highly talented workforce and improved quality are all underlying expectations in off shoring high-end processes.

The Knowledge Process Outsourcing is becoming the high valuable interests of companies for their business strategies and protection of intellectual property rights. Many experts see that, within the next 10 years, Knowledge Process Outsourcing will be the big trend in the outsourcing marketplace.

Knowledge Process Outsourcing involves outsourcing for high-end knowledge work. This includes research and work on intellectual property, equity and finance, analytics, market research and data management, etc.

Knowledge Process Outsourcing is highly value added processes in which the achievement of goals is highly dependent on the skills, knowledge and experience of the people carrying them out.

Knowledge Process Outsourcing deals with executing standardized processes, involves higher-end services which require advanced analytical and technical skills, knowledge process outsourcing involves legal works carried out at law firms like patent document writing, global filing, search, trademark search, trademark registration, prior art searches, legal advise on infringements, invalidation search, freedom of use search, etc.

Areas with significant potential for Knowledge Process Outsourcing includes pharmaceuticals, biotechnology, data search, integration and management services, financial services, research and analytics, technology research, computer-aided simulation and engineering design and professional services, such as business research and legal services. Off shoring research and development in pharmaceuticals and biotechnology also holds great potential for Knowledge Process Outsourcing.

Knowledge Process Outsourcing is not an extension of BPO as the premise of a Knowledge Process Outsourcing is to include it into a global delivery team, the requisite skills that support an organization’s core processes. While Knowledge Process Outsourcing is driven by the depth of knowledge, experience and judgement; BPOs in contrast are more about size, volume and efficiency, the report states.

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.

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