VA for Professionals

10 May 2024

The outsourcing industry, including Business Process Outsourcing (BPO) and Knowledge Process Outsourcing (KPO), has experienced significant growth in recent years. The COVID-19 pandemic has further increased the demand for outsourcing services as companies seek cost savings and survival strategies. The global outsourcing market size reached over USD 232.32 billion in 2020 and is expected to grow at an annual rate of 8.5% from 2021 to 2028.

BPO involves contracting out work to a third party and has evolved to offer a wide range of services for various business processes. It can be categorized into onshore, nearshore, and offshore outsourcing depending on the geographical location of the outsourcing provider. BPO services encompass back-office operations, customer service, human resources, finance and accounting, and IT and software operations.

KPO, a subcategory of BPO, specializes in knowledge-based roles that require advanced analytical skills and technical knowledge. It includes subsets such as Legal Process Outsourcing (LPO) and Research Process Outsourcing (RPO). KPO services focus on core business functions like legal work, research, engineering design, data management and analytics, banking and finance, and remote education and publishing.

BPO and KPO differ in terms of complexity, expertise, process, driving force, and employee qualification. BPO services are less complex and volume-driven, while KPO services are insights-driven and require specialized knowledge and skills.

Both BPO and KPO offer benefits to businesses, including improved focus on core functions, cost efficiency, access to a global talent pool, competitive technology, and enhanced operational productivity. BPO is suitable for non-core business functions, while KPO provides knowledge-related functions that require analytical and technical expertise.

The BPO industry employs a diverse workforce, including undergraduates, high school graduates, and degree holders, while the KPO industry predominantly hires degree holders with certified experiences in specific fields.

VA for Professionals is a Knowledge Process Outsourcing company. Where we provide Virtual Assistants with specialized skills and backgrounds for specific professions such as Legal, Bookkeeping, Administrative, Marketing, Billing, Account Payables, and more.

Click here to schedule a FREE assessment call with one of our team managers. Our carefully selected pool of candidates is ready to be matched with exceptional professionals like you. 

Source:

BPO vs KPO: Which one is better for your business?

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