Knowledge process outsourcing
Knowledge process outsourcing (KPO) in simple words hires individuals that have expert knowledge about the work a company is about to do. For example, if a company wants to create an account-related project then they will hire an accountant or a Commerce expert who has an expert degree or experience in accounting fields. Most companies do outsource from offshore for Core and information-related business activities. KPO is the best way for a company to obtain a highly skilled workforce at low prices.
Knowledge Processing Outsourcing (KPO) also provides advantages like the flexibility to increase or reduce staff easily. For example, when the economic conditions worsen or companies project is completed or canceled for any reason, the company can easily reduce its KPO staff to cut costs. On the other side if a company got a new project or multiple projects then they can hire specialized staff to boost profits or revenue. KPO helps companies to be more flexible to the changes in their industry and competitive market. KPO helps companies to operate in multiple countries at less cost. For example, if a company wants to sell its products in other countries then they just have to hire workers from different countries and start their work. On the other hand, if they send their own employees it will cost them more, and also they have to tackle different problems like language and cultural differences.
KPO does have some disadvantages, First of all, Privacy, when a company hires outsiders the company has a higher risk of leaking classified or proprietary information. Business security can be compromised if the business secrets are brought to a competitor. For the same reason, companies might not be able to ensure the character of their outsourced employees or the quality and performance of their work. There are some more disadvantages of KPO like language and cultural barriers also the existing employees may feel uncomfortable or threatened by the hiring of outsourced workers and feel their jobs are at risk.
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