Knowledge Process Outsourcing (KPO) is a high version of outsourcing of business processes that needs significant domain expertise. Knowledge Process Outsourcing refers to the outsourcing of high-end multifaceted/ complicated tasks and processes to specialized service providers. These comprise legal and insurance claims processing, investment research, valuation research, data analytics etc. KPO Solution provides value to the client through domain knowledge rather than process expertise. In today’s competitive environment- it is difficult for the companies to have the knowledgeable and proficient personnel and there a capital crunch to expand the business? The only solution for this is just to hire Best KPO companies in Nigeria. KPO is mainly the extended form of Business Process Outsourcing.
The evolution of list of Top KPO companies in Nigeria can be understood in the context of the government’s interest as a destination of and drivers of knowledge-based activities. Nigeria seeks divergence of the economy and alternative sources of revenue; the BPO as well as KPO sector presents a unique prospect to achieve this. New reports estimates reveal that much of KPO’s growth is expected to come from SMEs (small and medium sized entrepreneurs) across the developing countries who are eyeing the potential of leveraging KPO Solution to improve their competitiveness in the global platform. At present, countries that are mainly involved in the KPO business include India, Philippines, Russia, China, Ireland, Mexico, Israel and Brazil.
The most important advantages of consulting Best KPO companies in Nigeria are as follows:
- Business maneuverability: In present business environment, where changes occur speedily and company are required to make and implement decisions quickly, the larger the infrastructure, the slower the implementation procedure. In such conditions, smart companies opt for KPO outsourcing thereby coming up with right and innovative solutions within a minimum short period.
- Cost cutting: Reduction in cost can be significant to any business. KPO not only helps in reducing cost but also improve productivity and raise revenue. Cost reduction is possible through process improvements and use of technologies that reduce and bring management and other costs under control. Best KPO companies in Nigeria helps the company maintain lower rates with improved service solutions, thus giving them a better market position and even a competitive advantage.
- Improves efficiency: Third-party KPO companies have the knowledge, resources, expertise and desire to update their technological solutions, offers a true advantage. An outside provider’s cost structure and economy of scale can give the company a competitive advantage.
- Access to Expertise: Reliable providers make true investments in expert professionals, advanced technology, and methodologies. They acquire expertise by working with various clients facing similar challenges. This combination of expertise and specialization ensures a competitive advantage and helps them avoid the cost of acquiring technology and corporate training.
- Focuses on core business functions: Every business has restricted resources, and every manager has limited time and attention. Outsourcing can help your business to shift its focus from peripheral activities to work that serves the customer, and it can help managers set their priorities more clearly.
- Reduces risk: Every business investment carries some amount of risk. Government regulations, markets, competition, financial conditions and technologies all change very rapidly. Outsourcing providers undertake and manage this risk for you, and they generally are much better at deciding how to avoid risk in their areas of expertise.
- Cater to changing client demands: It is another benefit of KPO. Many Outsourcing providers provide the management with flexible services to meet the changing requirements of the clients, and to support company joint ventures, acquisitions and consolidations.
Knowledge process off-shoring services and solutions are being recognized as the next big opportunity for the country in the coming years.
Examples of services which are outsourced include: Research & Development, Animation & Design, Learning Solutions, Data Analytics, Business & Market Research, Intellectual Property Research, Medical Services, Training & Consultancy, Pharmaceuticals and Biotechnology, Business and Technical Analysis, Legal Services, Network Management, Writing & Content Development, etc.