Business process outsourcing (often called BPO) in a lame man's terms
can be defined as "a process of sharing your business functions
(responsibilities) with a third party organization which is a proven
expert in doing things that you cannot or do not want to handle
yourself."
The lesser known term is Knowledge process outsourcing (KPO) it is a type of outsourcing that is less structured and more specialized than BPO. KPO deals mostly in services that are highly "knowledge-based", such as: intellectual property research for patent applications; legal and medical services; training, consultancy, and research and growth in fields such as pharmaceuticals and biotechnology and also certain IT fields.
The development of these outsourcing twins in India has been phenomenal. The rags to riches story of the outsourcing companies in India is an interesting read. Everyone knows that India became known to the term "outsourcing services" in the 1990's with the entry of International airlines companies like British Airways, Swiss Airlines and other corporate majors like American Express and General Electric after that BPO companies in India have progressed on a fast- forward basis.
The entry of the IT majors like Wipro, Infosys, HCL, Satyam, Patni, IBM, etc. changed the outsourcing services beyond measure, they took the so called "outsourcing BPO services" from the Lilliput that is was and transformed it into a global BPO "Titan".
While talking about India's BPO industry we cannot forget the fact that a significant contribution was also made by the participation of the rural areas in the BPO services.
According to a study the India Outsourcing industry will reach a turnover of about $55 Billion in the year 2012.
Source :- http://www.devbpo.com/blog/development-of-bpo-industry-in-india
The lesser known term is Knowledge process outsourcing (KPO) it is a type of outsourcing that is less structured and more specialized than BPO. KPO deals mostly in services that are highly "knowledge-based", such as: intellectual property research for patent applications; legal and medical services; training, consultancy, and research and growth in fields such as pharmaceuticals and biotechnology and also certain IT fields.
The development of these outsourcing twins in India has been phenomenal. The rags to riches story of the outsourcing companies in India is an interesting read. Everyone knows that India became known to the term "outsourcing services" in the 1990's with the entry of International airlines companies like British Airways, Swiss Airlines and other corporate majors like American Express and General Electric after that BPO companies in India have progressed on a fast- forward basis.
The entry of the IT majors like Wipro, Infosys, HCL, Satyam, Patni, IBM, etc. changed the outsourcing services beyond measure, they took the so called "outsourcing BPO services" from the Lilliput that is was and transformed it into a global BPO "Titan".
While talking about India's BPO industry we cannot forget the fact that a significant contribution was also made by the participation of the rural areas in the BPO services.
According to a study the India Outsourcing industry will reach a turnover of about $55 Billion in the year 2012.
The reasons for growth of outsourcing to India are listed as:-
- Cost effectiveness
- An Advantage of Competition
- Availability of large English-speaking work force
- Risk Moderation
- Continuously improvising services
- Loftier competency
- And finally the unification of "Quality, low-costing and well-timed accomplishment"
Source :- http://www.devbpo.com/blog/development-of-bpo-industry-in-india
