Know About KPO Industry

Likewise in India, in other foreign countries like UK, US, Canada, Australia, New Zealand, South Africa and many more, there are Business Entities has to comply with respective countries rules and regulations for accounting and taxation. To fulfill such compliance, Business Entities avails services offered by Chartered Accountant in Practice (CPA, ACCA and CA). Since last 4 decades, such countries outsource their work to India and other countries. To carry out and complete such work, every individual requires specific domain knowledge, therefore it is called Knowledge Process Outsourcing (KPO). The KPO industry in India has been growing steadily in recent years and is expected to continue to grow in the future.

The KPO industry in India includes a wide range of knowledge base services such as Accounting and Tax, Market Research, Data Analytics, Legal Research, Scientific Research, Engineering Design, Digital Marketing and Animation & Game Developments.

KPO industry is growing mainly because there is a large pool of highly educated and skilled professionals with relatively low cost of labor, which saves up to 60% of cost to foreign companies. India is well-positioned to continue to attract KPO business from around the world.

The global finance and accounting outsourcing (FAO) market size was $56.46 billion (Rs.471,720 Crores) in 2023 and will touch $98.95 billion (Rs.826,722 Crores) by 2032, at CAGR of 5.77% during the forecast period [1]. This growth is likely to be fueled by the increasing demand for specialized knowledge and expertise.