What are BPO and KPO and what is the difference between BPO and KPO Services? Below article clears your doubt on this topic.
Outsourcing is a business practice in which an organization enlists another organization or a person to perform operations, handle tasks or give benefits that are either normally executed or had recently been finished by the organization’s own representatives.
Today almost big companies outsource their work to focus on their core, as an approach to bring down expenses, improve efficiencies and add speed.
BPO KPO Services
What is BPO?
The BPO Stands for Business Process Outsourcing relates to the re-appropriating of explicit capacities, sections as well as procedures of business associations to outsider associations (third party). BPO is essential for decreasing expenses and augmenting proficiency. These are the reasons that SMEs and big organizations employing the skill of BPO associations. BPOs are instrumental in conveying consistency and efficiency to the pre-decided procedures allocated to them by their customers.
Types of BPO Companies-
- On-shore BPO: Takes care of outsourced business processes belonging to a company in the same country.
- Nearshore BPO: The outsourcing of business processes to the company located in the nearby country.
- Offshore BPO: Takes care of outsourced business processes belonging to a company in the overseas.
Services Offered by a BPO:
- Help desks, call centers etc. pertaining to customer care
- HR services and payroll processing.
- Finance and accounting-based services
- Technical support
- Web hosting and other website-based services
- Medical transcription
What is KPO?
The KPO stands for Knowledge Process Outsourcing; it is a subset of BPO. KPO provides higher levels of collaboration and coordination services. The KPO Company understands the client’s business in depth and ability to handle the knowledge-based requirements of clients.
KPO companies are known to carry out the task with the expertise and skills of knowledgeable employees with high educational qualifications. A KPO is the advanced version of a BPO. KPO can handle High knowledge to lower level decisions. The workers employed by a KPO possess domain expertise, in-depth knowledge, effective interpretation and judicial powers, and a lot more, for taking care of specific knowledge issues.
Services offered by KPO:
- Market research services
- Investment research services
- Business research services
- Data analytics
- Financial Process Outsourcing
- Legal Process Outsourcing
- Media Process Outsourcing
Practically all the transnational organizations, today, outsource their non-centre tasks, just to focus on their core business. The two types of re-appropriating work in a B2B market where the client and buyer both are business associations.
One thing must be remembered that KPO is only an all-encompassing adaptation of BPO. Over time, it has been seen that with the development of KPO, the BPO is losing its existence and KPO emerge far better than BPO Services. Presently, specialist organizations like Headway BPO, providing both BPO and KPO services to the organizations.