India has seen a rise in the KPO industry over the years due to globalization. As globalization is currently diversifying to the commercial arena, especially in the recent decade, many businesses have turned towards the KPO industry in rising numbers. KPOs have formed a vital role in website application development in India.
The rise of the industry can be attributed to India being the rich hub of IT outsourcing. India has reached a mark of 14 billion.
In 2010, the figures were at the mark of 8 billion. The data shows how the growth has doubled within a short span. It shows the faith of the overseas industry in KPO industries of India and in turn, the latter has always met the expectations.
Knowledge Process Outsourcing (KPO) is the process of outsourcing knowledge-intensive activities, which are mostly data-driven and involves the process of collecting, managing, analyzing, and delivering objective insight into businesses.
The KPO services are broadly divided into four classes:
- Data Analysis and Insights: The service involves addressing business problems across industries and domains to empower organizations with actionable insights with the help of cutting-edge data analysis.
- Market Research or Business Research: It involves providing research services and strategy consulting to obtain accurate answers to the most challenging business questions.
- Global reporting and performance management: The service provides efficient reporting and performance measurement across industries to obtain operational excellence and higher productivity.
- Data Management: The service relies on efficient solutions for data integration, storage, retrieval, and sharing to achieve robust business reporting and analytics as demanded by various stakeholders.
The main reason why the companies prefer KPO is due to the objectively allocating of many complex tasks which require special knowledge or problem-solving ability. The different tasks may involve creating an application, writing a Press release for a new product launch, or creating an ad campaign for special purposes.
A KPO is different from BPO. The latter stands for Business Process Outsourcing. In BPO, the outsourcing of labor and other operational work is designated to a third party to cut down the cost of processing. KPO is a sub-division of BPO in general and demands far more specialized and analytical knowledge of a particular task.
India owns a large pool of talented professionals and specialized domain workers. With the current highly demanded competitive market, India has emerged as one of the key players in the KPO markets. It possesses a large number of specialized domain experts such as engineers, PhDs, CAs, lawyers, CAD/CAM experts, architects, biotechnologists, economists, MBAs, and statisticians.
Reports show that KPO salaries are found to be 25 to 30 percent higher when compared to those offered to specialized domain experts. As a result, there has been a significant rise in the knowledge professionals entering the KPO industry.
According to ASSOCHAM, Indian KPO Market has been surging at a compounded annual growth rate of 30 percent approximately. Moreover, the BPO company contributes more than 50 percent to the newly developing KPO industry. It is mainly because KPO companies are providing extra valued services apart from the regular value services.
The predictions made by trade experts have stated that the KPO industry will reach the golden target of 50 billion by the end of 2025.
The market specialists of India have already stated that the nation is currently emphasizing securing its base in KPO functioning and is developing a system to enable the overseas company to outsource the work in India.
In India, there are a large number of KPO firms. However, only a few companies manage 72 percent of the total work.
Top 10 Best KPO Companies in India in 2023:
Genpact is one of the key players in the KPO industry. It is a global professional service firm that blends real-world expertise and collaborative innovation to make the business works better. The company’s heritage is unique. The company was founded in 1997 by Pramod Bhasin. It started with 20 employees and is now ranked in the top KPO industry in India.
The company has centered itself across a wide range of processes across GE’s financial services and manufacturing businesses globally. They build their foundation based on lean and six sigma associated throughout their businesses globally.
The company’s services are utilized by various pharmaceutical agencies, public relations agencies, technology firms, and consumer packaged goods companies.
Genpact was previously known as GECIS, and it has a strong base as a BPO sector.
The company has a staff strength of 1200 people which is increasing by the end of the day, and all the individuals working for the reputed firm are advanced degree holders.
The company provides the following services:
- Database generation
- Customer value mapping
- Customer relationship management
- Program tracking
- Campaign management
- Competitive intelligence.
Genpact is the leading company for the Global Fortune 500 clients and has been serving digitally-led innovation and leading operations that turn the insight into action.
IBM India Private Limited is an Indian Subsidiary of IBM. The company has facilities in various locations in India, including Ahmedabad, Bengaluru, Bhubaneshwar, Hyderabad, Kochi, Kolkata, and many regions.
It is the only company that offers end-to-end solutions to customers from hardware to software, followed by services and consulting. In addition, the company has e-business capabilities, products, services, and partner networks to help large and small enterprise plan, build and implement the e-business infrastructure.
The company has been functional in India since 1992. IBM has increased its business considerably in India with the expansion of its operations.
The company holds the record for the most number of patents generated by any company for 19 consecutive years.
IBM’s total assets for the quarter concluding on June 30, 2022, were estimated to be 127.503 billion USD.
The company has emerged to be the top-ranking KPO company in India. Between 2003 and 2007, IBM’s headcount increased in India significantly by almost 800 percent from 9000 in 2003 to nearly 74000 in 2007.
Moreover, it is the largest multinational company with the largest number of employees in India.
The company offers the following services :
- Business and technical consulting
- Training and support
- Data storage and analysis, networking
- Enterprise applications.
IBM India has a wide range of clients worldwide.
Mindtree Ltd is an Indian multinational information technology services and consulting company. It has its headquarters in Bangalore and is a part of the Larsen and Toubro Group.
The company was founded in 1999 and the company has employed around 38,518 individuals.
The company has a net revenue of 10,520 crores as of 2022 and the total assets have been estimated to be 5156.60 crore INR. The company mainly deals with the e-commerce industry, mobile applications, cloud computing, digital transformation, data analytics, testing, enterprise application integration, and enterprise resource planning.
Mindtree currently has 307 active clients and 43 offices in over 18 countries.
The business is structured around clients in verticals such as Banking, Capital Markets, Consumer Devices and Electronics, Semiconductors, and the travel and hospitality industry. The workforce includes thousands of employees who are specialized in Microsoft Azure.
The company offers the following services which include:
- Application Development and Maintenance
- Data Analytics
- Digital Services
- Enterprise Application Integration
- Business Process Management
- Enterprise Application Services, Testing and infrastructure management services
- Engineering R&D
4. Concentrix Corporation:
Concentrix Technologies Private Limited is a private company that was founded on 9 March 1995. It is a non-governmental organization and is registered with the Registrar of Companies. The company is located in Bangalore, Karnataka, and operates worldwide.
Concentrix services operating revenues in India vary from 100 crore INR to 500 crore INR according to the reports made on 31 March 2021. In the same year, its book net worth increased by 9.90 percent.
Concentrix Technologies has a shaw capital of 9.1 crore INR and is mainly involved in data processing. The company provides technology-infused customer experience solutions worldwide.
The company provides CX process optimization, technology innovation, front and back office automation, analytics, and business transformation services.
The company provides the following services that include:
- Technical support
- Customer care and sales solution services.
The company has a broad base of clients including consumer electronics, and technology. E-commerce, and health insurance companies are followed by global IPOs, social brands, and banks.
5. WNS Global Service:
WNS Limited is a global business process management company that has its headquarters in Mumbai, India. The company has its expansion with 60 delivery centers worldwide. It provides its customers with various business process management solutions which help them create a loyal client base.
The company was first founded in 1996 by British Airways in Mumbai as Speedwing World Network Services. In 2002, 70 percent of stocks were sold to Warburg Pincus.
They offer services to 350 plus clients all around the world by combining operational excellence with deep domain expertise at key industry levels.
The company offers an entire spectrum of BPM services worldwide in customer interaction services, finances, accounting, human resources, research, and analytics.
More than 36000 employees serve across 54 delivery centers located in different regions including China, Costa Rica, India, the Philippines, Poland, and many countries.
Their services include:
- Delivery of all types of business process management services.
- Finance and Accounting
- Risk and Compliance
- Human resource and procurement
The company offers its customers a wide range of technological solutions such as Travel TRAC, Security TRAC, WNS TRAC, Blockchain, etc.
6. First Source:
First source Solutions Limited is an Indian business process management company. It is headquartered in Mumbai and owned by RP Sanjiv Goenka Group. The company was founded in 2001.
The company provides services in the banking and financial services, customer services, telecom and media, and health care sectors.
It provides services to clients belonging from the background of financial services, telecommunications, and health care companies.
The company currently operates in India, the UK, the US, and the Philippines.
It offers the following services:
- Contact and Service Centers
- Platform automation and analytics
The company provides business management solutions to 100 plus clients and aims to simplify complex business processes through cutting-edge technology and industry-leading people practices.
Moreover, the first Source has been recognized as a top company based on the Gender Equality Index by Bloomberg in 2022.
The company has demonstrated good revenue growth of 27.50 percent for the last three years and is virtually debt free. Furthermore, it has a healthy interest coverage ratio of 28.80.
However, the company has two limitations: its tax rate is low accounting for 13.80 followed by the company’s liabilities of 3096.19 crores.
7. Wipro BPS:
Wipro Limited is an Indian multinational corporation that deals with information technology, consulting, and business process services. The company has its headquarters in Bangalore, Karnataka, India.
It is an outsourcing arm of Wipro Limited and is a global organization dominating its presence in 13 countries with 75+ global clients and 32000 employees.
The services provided by Wipro include:
- Cloud computing
- Cyber security
- Digital transformation
- Artificial intelligence
- Data analytics.
The company provides consulting services to customers in 67 countries.
The company is honored with the National award for excellence in Corporate Governance from the Institute of Company Secretaries in India in 2004.
In addition, the company has won seven awards including the Best Managed IT services and Best System Integrator in the CIO Choice Awards India in 2015.
The company has a net revenue of 75000 crore INR as estimated in 2021 making it to the list of top KPO companies in India in 2023.
8. Datamatics Global Service:
Datamatics is an Indian technology company that built intelligent solutions allowing the data-driven business which is used to enhance productivity and improve the customer experience for over 43 years.
The company has an authorized Robotic Process Automation (TruBot)which is an enterprise-grade, multi-skilled bot that is programmed in a way to enhance the company’s productivity and handle repetitive business processes.
Datamatics Global services provide the following services that include
- Enterprise content management
- Digital Experiences through cutting-edge technology
- Mobile product engineering
- Maintenance services to businesses in different domains
Pangea3 is a legal outsourcing company with headquarters situated in various locations including New York, Noida, Bangalore, and Mumbai in India. The company was established in India in 2004.
The firm deals with legal services and intellectual property services in European, U.S, and Japanese corporations and attorneys in International law firms.
It is one of the legal outsourcing servicing companies in India since 2007 and was voted as the best LPO in the New York Law Journal Reader Rankings from 2011 to 2013. The team working for the company provides the best kind of services and their services are followed by impressive feedback.
The company provides the following services:
- Legal outsourcing services
- Legal service Intellectual property services
- Contract drafting management and administration
- Patent research
- Document review.
The company has successfully delivered a wide range of services to 1000 UK, US, and Indian attorneys, engineers, scientists, and professionals.
Techbooks is currently known as Aptara and they are dealing with publishing services in the KPO sector. It is one of the top e-learning companies in India. The company specializes in composition, data learning, and e-learning services across five main market verticals. The company was founded in 1988.
They offer services to prominent publishing houses like Tata McGraw Hill, Pearson, Hall, Blackwell, and Cambridge University.
It is a US-based media company that specializes in digital content development. The company’s present goal is to enter into e-learning services with broad application in India’s education, government, and corporate sectors.
The services provided by the TechBooks include:
- Interactive ebooks
- Digital publishing
- Digital content production
- Application development
- Learning development
- Training consultants
KPO Sectors play an important role in the Indian economy. The outsourcing market is growing tremendously around the Indian market with the increased advantages.
KPO enables the company executive to emphasize core business areas. KPO saves time and helps the executive to explore new revenue areas, accelerate other projects and shift their focus on its customers.
It enables the optimum utilization of resources furthermore relocating the resources. This helps in enhancing productivity and efficiency. This would only be possible with the availability of skilled technicians and sophisticated technologies.
Cost-cutting is a critical feature of any business. KPO companies not only help in decreasing costs but also increase productivity. It is only possible through process improvements, reengineering, and utilization of technologies that decrease and bring administrative costs under control.
It allows for improved HR and caters to changing customer demands.
One of the critical features of the outsourcing process is the technology sector. The right technology will make modern organization easy.
There are many KPO service providers in India. As a result, one must choose the correct service to provide the maximum benefits to the clients. To start with the selection process, one must look into the business requirements or what is the current state of the business. One must identify what is the biggest struggle and the outsourcing sector will boat the shortcomings followed by simplifying the services.
Outsourcing companies have the resources, expertise, and desire to continuously update the technological solutions offers the advantage of outsourcing.
The process of outsourcing is far more challenging than any other form of business. As a result, there is high demand for skillful workers with specialized analytical skills.