In 2020, the global business process outsourcing market was valued at $232.32 billion and was expected to continue growing at a compound annual rate of 8.5% throughout the next seven years. The widespread adoption of BPO solutions has allowed companies to improve their agility and keep up with the constantly changing market trends without increasing their operating costs.
Because of the growing popularity of BPO, more and more businesses are also becoming aware of the advantages of knowledge process outsourcing, a subset of BPO. In fact, analysts predict that the global KPO market will reach $124.29 billion by 2025.
This infographic will answer the questions: “What is knowledge process outsourcing?” and “How is KPO different from BPO?” Highlighting the differences between the two can help you better parse which outsourcing solution will work for your particular business goals. Let’s dive in!
All About Knowledge Process Outsourcing and Business Process Outsourcing: What Are They and How Are They Different?
KPO vs. BPO: Which Outsourcing Solution Should Your Business Invest In?
Now that you understand the differences between knowledge process outsourcing and business process outsourcing, you may be asking yourself, “Which one should I choose?” The answer is: It depends.
Both BPO and KPO solutions offer a wide range of advantages for businesses. Whether it’s better to choose one or the other depends on what your company in particular needs. Do you have a large volume of non-critical business functions you need assistance with or highly specialized work that requires expert knowledge?
Non-Critical Business Functions
In today’s highly competitive business climate, companies of all sizes, from startups to established enterprises, rely on BPO services to keep up the efficiency of their operations without breaking the bank. Businesses utilize BPO solutions when they need help with non-crucial and administrative tasks that support their core functions.
Examples of non-critical business functions that can be outsourced include recruitment, customer service, multilingual support, marketing, sales, and IT services. So, if you’re looking for back-office support services that will revolutionize your business or effective tech support that can boost your brand, partnering with a reliable BPO provider is the way to go.
Highly Advanced and Specialized Work
Imagine that your business requires workers with highly specialized knowledge and skills. For instance, you may be looking for a proven research and development team to aid you in your brand innovation goals, or you need a team of legal experts for a matter related to your business. In these cases, working with a KPO provider is your best bet.
Although it is a subset of BPO, knowledge process outsourcing is much more complex because it requires more analytical and insight-driven work. Companies utilize this outsourcing solution when they need specialized knowledge or expertise that they don’t have in-house. Through KPO, brands can work with highly skilled and educated professionals without the high costs of training and developing in-house workers with this skill set.
Reach Out to Reliable Providers of KPO and BPO Solutions
No matter your outsourcing needs, you can rely on the professional team at SuperStaff. We offer business process outsourcing and knowledge process outsourcing solutions that empower brands to achieve their business goals.
Our team makes it a point to understand your company’s specific needs before building the right solution for you. Connect with us, and let’s talk about how our services can help your business thrive!