In light of global economic downturn, Center for International Trade Expositions and Missions (CITEM) reported that the trends in business outsourcing reflected a movement up the value curve towards knowledge process outsourcing (KPO) wherein it involves more complex business functions.
Other than the sought-after voice-based jobs for BPO industries, KPO jobs are becoming more and more popular. Majority of the KPO industry firms in the Philippines have increased their employment quota from eleven (11) percent to two hundred (200) percent from 2009 to follow the robust growth of BPO industries.
According to a survey conducted by the Business Processing Association of the Philippines (BPAP) and Outsource2Philippines (O2P), various KPO services are offered by different BPO firms as well. Most industries are offering different KPO services from small to large enterprises and deliver a broad range of complex work. Tight market of qualified workers, inability of some workers to retain complicated knowledge, complex training requirements, inadequate educational infrastructure, and high wages are the factors that threaten the future growth of the industry.
Despite these threats, KPO services which focus on market research are catching up in the local BPO industry. Future prospects of the KPO industry will still depend on the work quality of currently employed “knowledge workers”. These workers are currently delivering outstanding services wherein they get their clients to trust them in making important decisions for their behalf. The type of KPO services being offered in the country varies widely from advertising to web services up to financial and legal KPO.
Business analysts are optimistic about the growth of the knowledge outsourcing industry. North America, with 59% market for KPO services is currently the largest provider for the industry followed by Asia with 46%. With the Philippines being successful in BPO business, there is no doubt that it can conquer the KPO industry in the future.
