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Narasimhan's review
Investment Sector: Emerging Markets Submitted by Narasimhan
, Owner
at Krish Systems
9 months ago Tags: Wealth Outsourcing Risk management complex tasks regulatory compliances certifications Add Tag |
The KPO industry is estimated to worth anywhere between $ 10 billion and $ 17 billion. The major share of this industry will be in the outsourced financial services.
Banks and Insurance companies are likely to remain in the forefront of outsourcing the knowledge processing jobs. It is easy to recall that the outsourcing started with securing information assets, chiefly software programs from India, has move to securing business processes and now in the third phase or wave it will comprise of knowledge processing. Processes such as credit scoring, loss protection calculations and fraud analytics are expected to dominate the KPO industry in the beginning. Higher end services such as technical writing, compilation of books, risk management, business forecasting might follow the way to outsourcing desk as soon as the talent to handle them are developed adequately. The quality human resources that are eager to acquire such international certification as may be needed to assure the outsourcer of desired quality. The human resources in the local industry in India especially after the arrival of their counterparts from overseas and their expansion abroad seeking new businesses have developed immensely. Their experience, standards, professionalism and skills will ensure good delivery. In the training front lot needs to achieved to keep pace with the demands of KPO. The work ethics, trust, confidentiality control, and risk management in the outsourced work, regulatory compliances and declining US Dollar will cap the growth, quantum and quality of the KPO tasks.
The report concludes by stating that the providers need to adopt more regulatory and compliance control to expand their boutique of services and succeed in getting more of the outsourcers KPO tasks.
India remains to be a good growth and wealth creator for gloval and local investors.
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