Business,Process,Outsourcing,B business, insurance Business Process Outsourcing (BPO) Services
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The success in offshoring BusinessProcess Outsourcing services operations with respect to reducing costs and oftenimproving quality has encouraged many firms to start offshoring their high-endknowledge work as well. Their underlying expectation is that offshoringhigh-end processes will result in additional cost savings and operationalefficiencies, coupled with access to very good talent in the low-wage offshorecountries. In this paper, we will refer to this offshoring of higher-endservices as Knowledge Process Offshoring (KPO). This paper analyzes the evolving KPO market, theopportunities it offers, the associated challenges, and the key driversassociated with the move from BPO to KPO. According to our estimate, the KPO market is expected togrow from USD 1.2 billion in FY (Financial Year) 2003 to USD 16 billion in FY2010. The sectors that are expected to 'shine' within the KPO industry includedata search, integration and management services, financial and insuranceresearch, biotech and pharmaceutical research and computer-aided simulation andengineering design. In terms of challenges, this paper analyzes the impact ofkey parameters such as quality, precision, confidentiality and projectmanagement expertise in the KPO industry. This paper also forecasts the numberof professionals that are likely to be employed by this industry and we alsopresent some important drivers behind the movement from BPO to KPO. Finally, this paper attempts to compare countries (such asChina, India, the Philippines, Ireland, Israel and Russia) that can provide KPOservices with respect to labor costs, geographic location, demographic factorsand other miscellaneous factors. The paper also discusses the future outlook ofthe global offshoring industry. * Free you're Resources and Work on Your Strategy - Animportant aspect of business process outsourcing is its ability to freecorporate executives from some of their day-to-day process managementresponsibilities. Traditionally, executives spend 80 percent of their timemanaging details, and only 20 percent on strategy. Once a process issuccessfully outsourced, the ratio can be reversed. * Improve Processes - Save Money - Companies that outsourcebusiness processes are often able to reengineer those processes and capture newefficiencies. Then they can reallocate resources to other important projectsand leverage their investment in technology. For example, processes that arehandled in a shared production environment for multiple companies save everyonemoney. In most cases, high-caliber subject-matter experts are brought in todesign and manage these processes, bringing with them best practices,innovation, and years of experience that most companies don't have access to orcan't afford on their own. * Increase Your Capabilities - Companies that want to growinternationally must continuously invest in infrastructure and find talentaround the world. Many outsourcing providers are already established globallyand can help make the growth process run smoothly. For more details http://www.dynastyresources.com
Business,Process,Outsourcing,B