KPO LPO Services
KPO stands for Knowledge Process Outsourcing and LPO stands for Legal Process Outsourcing. Both of these are specialized forms of outsourcing services, with the basic distinction from other BPO services to be their highly advanced nature and place in overall businesses. Traditionally, and even today for the most part, the outsourced services are usually from the areas around the core businesses. These types of outsourcing however are themselves the key business activities, that are sometimes outsourced for cost and skill level needs.
Knowledge Process Outsourcing is hiring a subsidiary or external company with highly skilled and qualified research and development experts. This branch of outsourcing is usually done in different geographical locations altogether, primarily keeping in view the proximity to the research area. Sometimes it is also done in countries and locations where the research experts are available at a significantly lower cost than the same country of the business hiring these services.
KPO involves a lot of technical, specialized, and analytical work and requires expert professionals not only in fields of research but also with regards to the company, business, or sector in concern. Companies that are involved in KPO are looking for research and information that they can use to formulate further business strategies, develop new products, or simply improve their competitiveness, all with the primary aim of improving business performance and consequently revenues.
Types of KPO Services
KPO services can range from simple areas like market research, customer trends, and economic situation of a country, to more specific and complicated areas like product strengths, weaknesses, most lucrative market locations, medical developments and so on. Usually following constitute KPO services:
- Financial consultants
- Research and development
- Business operations
- Technical analysis
- Medical research and development
- Data analysis and interpretation
Legal Process Outsourcing is one step even ahead of KPO and it refers to the practice of a legal organization (law firm or corporation) having or obtaining legal support and services from outside the gambit of mainstream legal fields. In easier words, this could mean a law company asking for legal services to a non-law company, but still from professional, certified, authentic legal experts. Such services can range from the simplest tasks like drafting a contract, to highly skillful matters like drafting an IP agreement, as long as there is no personal presence or activity is required from the hiring business.
Types of LPO Services
Initially, this practice began solely for patents, in the fifties, but gradually legal firms also found ways to utilize the rapidly growing outsourcing model for their benefit. In modern times there is a range of tasks that are offered through the LPO model, and may include the following:
- Agency work
- Document review
- Legal research
- Legal writing
- Plea and statement writing
- Drafting of briefs
- Patent and intellectual property rights services
The Overlapping Parts Between KPO and LPO
The factor common to both these outsourcing types is the requirement of highly qualified individuals as well as the instance of the blame and responsibility. Since both these processes can result in potentially catastrophic consequences, for both the hiring company and the outsourcing company, in case of a factual error, or preparatory error, or even lack of or misinformation, these services are considered risky and crucial to a business’ success.
Benefits of KPO and LPO
The most important and highly coveted benefit of these services also remain the same as others being part of the outsourcing model, which is reduction in costs. Companies can hire research and development professionals for a period of time when their business demands so, instead of all year round increase in workforce. Likewise, law firms can have higher number of resources on board when they require extra staff without having to permanently increase the size of their company or team of employees.
Secondly, this is a great way to keep activities and business operations secret. Since the research or the legal drafting is not being done in-house and it is being done under strict contractual agreements of secrecy and efficiency, the hiring companies do not have to worry about the details being leaked by any disgruntled employee, or being stolen by a competitor.
InterSoft’s Service Section
At InterSoft BPO you can gain both KPO and LPO with guarantees of performance based working as well as complete trust on keeping your research and legal details secret. Our team of excelled professionals in several different industries, sectors, and businesses can provide you with just the right information that you need to improve your business, become legally more secure, or simply need to insulate yourself against the market fluctuations or legal risks. Your specific requirements will decide which services you will require, but as a whole, InterSoft BPO offers: