KPO, a lucrative career option
KPO sector offers a good working atmosphere with global exposure and an opportunity to develop skill sets in a specialised field. The remuneration is high as a person with about two years experience can draw a pay packet of around Rs 6 lakh (Rs 600,000) to Rs 8 lakh (Rs 800,000) annually, while an experienced professional gets anywhere between Rs 15 lakh (Rs 1.5 million) and Rs 20 lakh (Rs 2 million).
Knowledge Process Outsourcing, or KPO, is the latest wave to hit the outsourcing business in India. A booming sector with tremendous potential, the KPO sector in India employs around 25,000 people currently. Experts say that KPO is set to be worth a $14 billion business employing 250,000 people in India.
What is KPO?
KPO is Knowledge Process Outsourcing. It involves outsourcing for high-end knowledge work. This includes research and work on intellectual property, equity and finance, analytics, market research and data management, et cetera.
Why is India the preferred KPO destination?
India has a growing population of educated people capable of handling high-end knowledge-based work and research. With a huge talent pool, India could emerge as a global KPO hub as the sector requires specialised knowledge in respective verticals.
With the mushrooming of engineering and technical institutes in India, there will no shortage of skilled manpower in India. A Confederation of Indian Industry study states that India’s transition from a BPO destination to a KPO destination is imminent.
The cost advantage: More and more companies are turning to India for offshoring KPO work as quality work gets done at cheaper rates. India also offers significant cost advantages as much as 40 to 50 per cent in the areas of research and clinical trials.
India’s business process outsourcing industry will soon be edged out by the emerging KPO sector as the biggest revenue grosser, according to Kiran Karnik, President, National Association of Software and Services Companies. The global KPO industry is likely to become worth $17 billion by 2010, with the Indian industry capturing between $12-$14 billion of it.