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Knowledge process outsourcing (KPO) is a type of outsourcing that involves specialized tasks related to knowledge or information that are performed for a company by another company, sometimes one that is in a completely different location. KPO research is a specialized service that is provided to companies that are in need of a research division or need research-related tasks completed. Instead of hiring their own employees for these purposes, the companies can outsource the task of doing research to other companies. This research can include things such as market research or research into a company's competitors.
A knowledge process is a specialized process that can be successfully completed only if the individuals involved in the process have certain knowledge and experience. This knowledge process could be any specialized skill, such as management, information technology or sales. When these processes get outsourced to another company that specializes in that knowledge process, it is referred to as knowledge process outsourcing. When a company outsources its research to another company, a KPO research service is being provided.
Companies in need of research can acquire the services of a KPO research firm in an attempt to gain greater insight about the factors that affect their business. KPO research allows companies to make business decisions quicker based on the research that is gathered. In addition, companies can utilize KPO research services as a way to increase their productivity while at the same time benefiting from the lower costs of outsourcing their research instead of creating their own research divisions.
Many companies can benefit from hiring a KPO research company, because that company specializes in gathering and presenting research data in a format that is understandable and actionable. Outsourcing its research can allow a company to conduct market research to discover new opportunities, to use market surveys to determine the needs of the marketplace or to have access to a host of other research data, including feasibility studies and competitive analysis studies. KPO research allows companies to obtain critical market data without the need to hire and train new employees. By utilizing KPO research services abroad, companies can gain access to quality research services while allocating their internal resources toward their core business functions.
A company looking to gain an advantage on its competitors could benefit from outsourcing its knowledge processes. As technology continues to connect the business world, progressive companies can implement KPO strategies as a way to operate more efficiently while lowering costs and increasing profitability. As the outsourcing industry continues to grow, more companies might have to consider utilizing KPO services as a way to effectively compete in the global economy.