Knowledge Process Outsourcing (KPO) involves outsourcing specialized work functions to other organizations or corporate divisions, often in other countries for cost savings. KPO jobs require specialized skills and education in fields such as finance, law, and accounting. Language skills and availability during business hours are important for international clients.
Knowledge Process Outsourcing (KPO) is a type of outsourcing where companies turn to other organizations or a parent company uses its own corporate divisions located elsewhere to perform work functions. These positions can be located nationally or internationally. People who qualify for KPO roles have experience in a particular field, such as finance, law, or business. Many of the jobs require skills that are prevalent only in individuals who have completed higher education and possibly graduate school. Companies that turn to KPO often expect these jobs to be completed by professionals with credentials to make decisions that have the potential to influence an organization’s direction.
Location is an essential component for many KPO jobs. Companies can assign tasks to local entities, but the tendency to turn to other countries is common for organizations looking to realize additional cost savings. Business organizations in countries like the US might look to India to outsource critical tasks, for example. Not all job functions can be outsourced, but the role of individuals in KPO jobs can be highly specialized in areas outside of product manufacturing, which is a popular type of outsourcing.
Accounting roles, which range from bookkeeping to formal accountant positions, are fillable KPO tasks. The responsibilities may require a knowledge and command of standard software programs used throughout the accounting industry. Statutory auditors and other KPO staff may support a client in preparing taxes, payroll taxes, or reporting financial data to a regulatory body. Finance professionals in KPO jobs can also support collections procedures and help prepare for an audit.
Legal KPO jobs can be found at the administrative or research level. Law firms looking to cut expenses can turn to a KPO specialist to perform paralegal services, including transcribing court sessions or drafting memos on behalf of attorneys. Persons in these roles must be familiar with the regulations in the client’s country and subsequently must be highly educated and trained in the field of law. It is possible for a KPO provider to assign attorneys and paralegals to clients in a specific region.
A KPO provider will typically designate the countries for which accounting or other services are available. This designation is important so that the language skills needed by employees fulfilling these KPO jobs are clear. Employees must normally be available during business hours for any international client.
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