Page 78 - Quick Insights Book 2022

Knowledge Processing Outsourcing Centers (KPOs) 21

The term outsourcing i.e. the business practice of hiring a
party outside a company to perform services or create goods
is not new to the Indian Chartered Accountants. There are
various categories of Outsourcing, but we shall talk about
professional outsourcing that can be provided by Chartered
Accountants. These services can be provided in both domestic
and international markets. We are intentionally elaborating
on overseas outsourcing work as compared to domestic
outsourcing.

Domestic Outsourcing Opportunities

Many Indian companies, Government and Local Bodies
are outsourcing their services and processes to chartered
accountant firms. Digital India is also a flagship programme of
the Government of India with a vision to transform India into a
digitally empowered society and knowledge economy. This has
again created opportunities for Chartered Accountants in Central
/ State Governments and local bodies.

Overseas Outsourcing Opportunities
Unlike BPO (Business Process Outsourcing), Knowledge
Process Outsourcing (KPO) involves outsourcing knowledge-
intensive business processes that require specialized domain
expertise rather than just process expertise. Indian Chartered
Accountants are well equipped with domain knowledge, quality
IT training and high communication skills.

Required skill set
 Supreme Communication skills

 Computer skills
 Flexible to learn, adapt and execute
Knowledge  High level of conceptualization

Processing  Research skills
Comfortable with databases and mathematical orient

Outsourcing  action
Adapt to the latest technology and use of tools and
Centers (KPOs) software

The requirement to start KPO practice

The implementation of KPO is not very difficult but it must be
implemented in a professional services environment. Following
are the basic requirement to start KPO practice:
 Knowledge of client industry and practices. For example,
if the client is selling goods on an online portal in Unites

Quick Insights on Professional Opportunities for Chartered Accountants 65