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As per a research report by ValueNotes Database, provider of business intelligence and research, the global opportunity for publishing outsourcing is estimated at $8.1 billion, which would be valued at an estimated $4.86 billion if offshored.
The Indian Opportunity is driven by the core strength of the Indian education system. The excellent pool of resources that comes out of our educational institutions, comparable with the best in the world, and the knowledge of English that is ingrained are the two major reasons why India is poised to become the KPO hub of the world.
While the BPO players offer data conversion/digitization services, the value will come in from high-end services such as design, content development, data conversion and even turnkey project management services.
There is an amazing opportunity in the knowledge process outsourcing space. Only companies with a strong pedigree, domain expertise, clear focus on the high-end space, solution orientation, an existing client base in the industry and a collaborative mindset will emerge as the winner.
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Unlike the BPO space, KPO involves business processes that require domain expertise, high-end talent and skilled professionals from the industry. It requires moving away from simple, standardized processes to carrying out processes that demand advanced information search, analytical, interpretation and technical skills as well as judgment and decision making.
Examples of KPO functions are content editing, data mining, database creation, and a range of analytical services such as research, content management of the medical and legal fraternities, industry reports and financial transactions. Many of these activities lend themselves to remote execution from anywhere.
Cost savings of up to 50% and more can take place for highly skilled services outsourced to India from the U.S.A. & U.K . In the legal arena, intellectual property rights and patent filing, in R&D research, legal & medical research and filing of reports, etc. are some of the high-end activities that are being outsourced to the Indian shores.
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