Outsourcing
Articles >> 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 offshoring 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.
Offshoring 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.
