From BPO to KPO; is the Philippines ready for Knowledge Process Outsourcing?
“It is estimated that in the ongoing decade, India might lose $30 billion in terms of foreign exchange earnings to the Philippines, which has become the top destination for Indian investors,”
-Assocham Secretary general D S Rawat from an interview by Indian media.
With the government backing up the industry since the last decade, the country has seen growth not just in the BPO industry but in real estate, telecoms and retail sectors. Many people have been employed because of this growing trend.
Experts say that the industry is slowly shifting from pure voice services to multichannel offerings, combining voice, e-mail and online chat services, using sophisticated delivery models. Investors and stakeholders have called for the industry to increase its technological capabilities to be able to compete with the impending shifting trend for Knowledge Process Outsourcing. Once again, the Philippine government is expected to play an integral role in this development as other countries have also started making their move.
One of the highlights in earlier reports is India’s establishment of “centers of excellence” offering e-mail, text and chat that are putting pressure on the Philippine BPO market. Global companies are still focused on reducing costs and achieve operational efficiency. They will still look to tap the Philippines’ BPO providers for cheaper labor costs and it’s large resource of English speaking college graduates and professionals. As what we have seen in the past, companies expand and strive to achieve optimum efficiency to remain competitive. We may see a shift for demand on value-added services. With this demand enter Knowledge Process Outsourcing (KPO).
Knowledge Process Outsourcing has been in the forefront in the development of industries such as research and development, financial consultancy and services, business and technical analysis and many others. KPO has been known to decrease operational expenses, access professional resources, augment existing staffing, reduce time to market and improve service quality. With this a lot of improvement needs to be done in organization, knowledge management, tehcnology and processes for a company to be KPO enabled.
India has since gone all out in it’s bid to regain their lost revenue over the years, and has since been developing and exploring how KPO will bring back key businesses from it’s rival countries.
Is the Philippines ready for Knowledge Process Outsourcing? Only time will tell.
Got your own news and views you want to share? Share it in our forums, discuss and interact with the rest of the guys!!!
BPO News Forums
You can also go ahead and submit your story here!!!
Submit a Story