KPO: A new opportunity for pharmacy graduates, Part -1
What is KPO??
KPO stands for knowledge process outsourcing, it is considered as an extension of the BPO –business process outsourcing. Technically KPO is defined as “high added value processes chain where the achievement of objectives is highly dependent on the skills, domain knowledge and experience of the people carrying out the activity. And when this activity gets outsourced a new business activity emerges, which is generally known as KPO-Knowledge Process Outsourcing”.
Why KPO trend started in India??
The success achieved by many overseas companies in outsourcing business process operations (BPO) to India has encouraged many of the said companies to start outsourcing their high-end knowledge work as well. Cost savings, operational efficiencies, availability of and access to a highly skilled and talented workforce and improved quality are all underlying expectations in outsourcing high-end processes to India.
Why pharmaceutical companies approach KPO??
Effective marketing is at the heart of success for high-growth pharmaceutical brands and companies. Organizations continue to face the challenge of achieving and maximizing sales force effectiveness. To improve their return on investment, savvy executives are examining the sales process from end-to-end, that is, from management, coaching and development to sales force effectiveness and performance measurement.
According to a study by leading consulting firm, nine key areas contribute to the success of sales performance management structures: -
1. Strategic Direction with Clear Sales Force Objectives
2. Tactical Execution of Strategy
3. Employee Selection & Recruitment
4. Quantity of Sales Interaction with Customer
5. Quality of Sales Calls Training & Development
6. Coaching & Mentoring Through Sales Manager Motivation
7. Incentives, Rewards & Recognition
8. Accountability & Monitoring
9. Development of Tools to Optimize the Sales Process
A KPO provide a high quality and economical solutions to the problem faced by many pharmaceutical companies.