KPOs are Knowledge Process Outsourcing companies that provide knowledge or intelligence on a designated task. This can be associated with any industry or business operations like finance, banking, business revenue, productivity, etc.
However, there are some subsidiary solutions like market or business research, data collection, cleansing, processing, conversion, or anything associated with data that can be a part of these services.
India has been a hub of brainy people and highly educated professionals. This domain actually requires people good at using their knowledge and brain, especially in analytics, data management, & AI these days. According to AIM Research, there were 137,870 vacancies for the role of data scientist in June 2021, which upped up to 47.1% as compared to June 2020 vacancies in India. In all, India has added up to 9.4% to the total global analytics job openings, which marked up to a 7.2% increment in January 2020.
Challenges that Indian KPOs Face
Knowledge Process Outsourcing provides unparalleled value to organizations. Businesses become able to make decisions that actually prove feasible and really effective in terms of results.
This is mainly a domain for data experts, like analysts, data scientists, and research companies. So, this domain is open for you if you have qualifications, expertise plus hands-on experience to leverage data & digital workspace. But still, you cannot deny the challenges that Indian outsourcing companies often face.
Let’s catch up with the roundup of these challenges.
Different Time Zones
India comes in a different time zone if you compare it with the USA or Australia or any other country. Mostly, European and US organizations look at hiring Knowledge & Business Process Outsourcing companies from India. Undoubtedly, the demand is high. But, working late hours or night shifts is a challenge. Employees gradually compromise their health due to irregular sleeping patterns and changing lifestyles over time. So, they give up their jobs.
Lack of Robust IT Infrastructure
This country has poor IT infrastructures, which hamper delivering benchmark business intelligence or other services to international customers. However, there are eight metropolitan cities there that are categorized in tier 1, which are Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, and Pune.
But, they are gradually getting congested, which leads to a hiking value of the real estate. This increment adds to overall operational costs. Reducing this overburdening cost is indeed a big challenge.
Data Security is Difficult
The companies involved in knowledge discovery are privy to information, which is not disclosed in the public domain. Only 859 companies are ISO certified and 3K+ companies have NASSCOM certification. These certifications are awarded when the companies keep data secure and confidential. Considering the short numbers of security compliant companies against overall 167,076 registered companies, KPOs have to chew bullets to proactively control and secure sensitive data of offshore customers at a low cost.
Specialised Skills are In-Demand
Understanding the knowledge discovery process together with the integrated tools, methods, & technologies is a must-have to survive the discontinuity or shortage of skills in the industry. This industry requires the best-fit skill sets with the perfect domain knowledge. However, nearly 179.4K open jobs were available for data scientists & interrelated domains in the first quarter of this year here, which shows a 30.1% up in the analytics open jobs. But, the demand is way higher. Being unconventional profiles and job roles, onboarding the right-fit talent is imagery.
Competition is Stiff
There are some other competitor countries like the Philippines, Russia, China, Poland, and Hungary that strongly compete when it comes to outsourcing knowledge. With the advent of globalization, their economic growth and development are moving on a fast track. Their growth rate would be nearly these percentages in 2022- China 4.3%, Russia 7.8%, Philippines 8.3%, Poland 3.7%, and Hungary 4%. These growth rates indicate that they are progressively moving up in terms of growth. So, Indian KPOs have to compete with these countries’ talent to win opportunities.
Advantages of KPOs of India
Despite these challenges, Indian process outsourcing companies, especially IT & ITES service providers are on the top of the most preferred outsourcing choices because of the exceptional talent pool, benchmark quality training, IT support, low labour cost, and lenient government policies.
Have a look at the benefits that Indian knowledge process outsourcers provide:
Cost-effective Services
As per a resource, the data analyst payout here in India is between INR 1.8 lakh and INR 11.9 lakh, which is extremely low when you compare it with the same profile professional in the USA who receives $69,317 per year. In short, you have a great scope to receive premium and hybrid services at a low cost. This is an outstanding benefit of these outsourcing companies in India.
It’s a Domain of Professionals
KPO services are different from an ordinary typical profile. It requires high qualifications in advanced data science, analysis, marketing, and research. Only qualified professionals can sustain and survive in this sector. India has this kind of talent.
Data Compliance & Security
Certainly, infringements and data breaches are real. But, there are KPO companies that abide by GDPR, HIPAA compliance, and data security. Being aware of the cloud storage and servers, these companies define encrypted virtual storage and also authenticate access to prevent hacking or online malicious attempts. This is a big advantage of these Indian outsourcing companies.
Focus on Cores
Outsourcing refers to renting out services to third-party professionals. Knowledge processing outsourcing can bring you relief. These professionals handle all processes as their own, which frees you up to focus on growth strategies.
Latest Technologies in Reach
The prominent Indian knowledge discovery providers opt for the latest in software, technology, and robust IT infrastructure, which leads to seamless workflow with digital connectivity 24/7 and hasty deliveries. This is the best KPO benefit that global customers look for.
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