[3][4] Reasons behind KPO include an increase in specialized knowledge and expertise,[1] additional value creation,[3] the potential for cost reductions, and a shortage of skilled labor.
A company can lessen the complexities included in overseeing and constantly constructing information in an extensive pool of human resources.
[7] Ashish Gupta, ex-COO of Evalueserve and co-founder & CEO of Benori Knowledge has often been credited with coining the term.
The Indian National Association of Software and Service Companies (NASSCOM) estimated the total market size of the KPO sector in India in 2006 to be $1.5 billion.
[13] However, the global financial crisis, coupled with domestic economic problems such as the IPO of Reliance Power in 2009, caused people to re-evaluate these predictions, incurring worries that India's IT, BPO, and KPO sectors — which by then, combined, were $8.4 billion in export revenues — would be greatly affected by these factors.
The area likewise obliges larger amount of control, confidentiality and enhanced risk management.
Both organizations need to appreciate each other's corporate and national societies and find common helpful approaches to create successful participation.
With the 4th Industrial Revolution, it is estimated that most job losses will occur in low value-added contact center (“voice”) and other BPO services.
[18] Advanced functions that are projected to become more in demand include analytics and optimization engines, automation enablement, clinical data analytics, remote health management, Virtual Reality (VR)/Augmented Reality (AR)-enabled animation and supply chain optimization.
Former IBPAP executive director for information research Gillian Virata said that the Philippine KPO industry is expected to reach the same market size as the voice service sector by 2015-2016.
Besides its cultural affinity with the West and excellent English proficiency of its talent pool, the Philippines used to be an American colony, and its laws are patterned after those of the U.S. Integreon is an established legal services provider in the country, specializing in discovery, contract management, compliance, legal research and knowledge management, intellectual property, and due diligence.