Coefficients Co. Ltd. recently announces their transition to knowledge process outsourcing. The impact of knowledge process outsourcing also known as KPO has surpassed both the business process outsourcing and information technology outsourcing sectors in providing greater value-added services and revenue margins. Since it requires higher competency and yields better results than services from BPO and ITO, the latter is now struggling for existence in the industry.
As for Coefficients Co. Ltd., switching to knowledge process outsourcing means stepping up the company’s competency in the industry. It allows their client companies to develop new products, unveil more services, and understand better new markets and trends. It will open new opportunities for start-up companies like Coefficient to provide all services their clients need.
New KPO destination in the Philippines
Although knowledge process outsourcing was pioneered by Indian service providers, Philippines has also developed a competent and reliable knowledge process outsourcing industry due to the increasing demands of the service in the industry.
It started in India in the 1980s as technology increased the worldwide reach. It is described as the outsourcing of core data-based business activities to another company. It may also include core processes like market research, fraud analytics, equity research and investment banking, insurance and actuarial, engineering services, animations, web development, data integration, project management, remote education, research and development, radiology, medical transcript preparation and legal processes.
It has first been predicted by the local BPO industry in the Philippines that we will enter the era of KPO back in 2014. From then on, the KPO shift will do away with the usual contact center set-up to a more knowledge-intensive services. The mid-2014 report from IBPAP showed that it is expecting non-voice services, including KPO and engineering services, to grow at about 20%.
Now in 2016, KPO is becoming one of the most in demand services in the local outsourcing industry. It continues to improve for better service to the global market.