Pharmaceutical KPOs is one of the niche segment of KPOs which renders services like research, compliance, clinical trial, analysis, and market research, regulatory guideline to the global pharma majors. These services are offered by professional who work on the service provider’s behalf in doing researches. KPO can therefore be defined as an activity that is outsourced or performed by employees of another organization being based on data.
Knowledge Process Outsourcing (KPO), is employed for the work that require expertise, technical, specialty, or analytical knowledge based work. There are basically different types of KPOs functional at the present position in the global market including finance research KPO, biotechnology KPOs, and market research KPO. These services are extended to the clients by the top KPO companies in India in a most appropriate and efficient manner.
Today India is one of the largest economy of the world ranked 5th and is on rise. One of the biggest factors for its growth is its outsourcing industry that was able to deliver highly valuable and knowledge intensive projects. The present Indian KPO industry is one of the most flourishing industries with a soaring revenue of approx. 14 billion USD and it is in a very dominating position and is rapidly on the ascendance.
Pharma KPOs Characteristics
- One can identify KPO firms by the presence of their highly qualified and experienced employees who can work on these projects without any need for further training and experience. The project improves companies’ corporate value and competition premise.
- Indian pharmaceutical KPOs are famous for its high value data in terms of performance working on time, quality centric processes and having the best talents. A few of the benefits of reaching the data through KPOs indicates how the big pharmaceutical companies can keep them abreast of competitors.
- Pharmaceutical Knowledge Process Outsourcing offers the benefits such as, cost control, sharing of information and optimal use of resources.
- It is actually good that while the world used to associate India with manufacturing, the growing India is now being popular for outsourcing. Thus, the utilization of data is crucial across the industries to obtain real and measurable results. In this regard, India has the largest number of pharma KPO companies of the world.
- KPO companies have incorporated the use of technology such as the artificial intelligence and Power BI. This makes their solutions super-efficient and accurate due to application of data analytics.
- The Indian government has been encouraging KPOs within the country. This support is well manifested through certain tax credit, incentive, and schemes.
Top listed KPO Companies in India
Today there are numerous KPO companies in India have presence in global market to provide services. Some of the top listed KPO companies are:
- WNS: WNS is an India based KPO company that focuses mainly on healthcare, banking and financial, Life science and many more. The company has its operation based in Mumbai, India and its core competencies include finance, risks and compliance.
- Frost & Sullivan: Frost & Sullivan is a world leading consulting firm that specializes in providing market research, strategies and training for the growth of the pharmaceutical and other companies around the world.
- Quintiles IMS: It is a company which operates in the global level and offers different services and products that are associated with clinical research, consulting, and technology for the pharmaceutical market.
- Cognizant: Cognizant is one of the leading multi-national companies which provide digital, technology, consulting and operation excellence solutions to the pharma industries based on their KPO department.
- Wipro: One of the largest Indian multinationals that offers an array of IT, consulting and business process services through precise KPO services with focus on pharmaceutical sector.
- Infosys: An indigenous global corporation that has the best data on Information Technology and consulting outsourcing company including KPO services meant for pharmaceuticals industry only.
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Conclusion
The future of pharma KPO in India is bright because the industry generates high efficiency and has well prepared strategies. In the world that needs new and affordable solutions, India is the place for top KPO companies due to smart people and their know-how. There are a lot of changes that occur in the KPO field and all types of tasks are quite challenging. The large corporations will continue to establish their centers in India. Thus, it is clear that India’s KPO sector shall remain successful and perform in the future also.
