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Knowledge process outsourcing, or KPO - in which service providers take over high-level tasks requiring professional judgment and industry experience - looks to be the next frontier for the outsourcing industry. Many expect financial services companies to lead the way in KPO, and there's data to support such a view. For example, 45 percent of financial services executives who participated in a recent InformationWeek Analytics survey said they see the industry knowledge of their business process outsourcing (BPO) providers significantly improving. That's more than any other area of improvement.
Another reason is that there's a notable "strategic minority" of companies, according to the InformationWeek Analytics survey of 372 business technology professionals, including 110 in financial services, that see BPO as a road to competitive advantage, with goals such as transforming processes and increasing revenue,...