Skill Gap Analysis for the Finance & Accounting Outsourcing in Manufacturing Industries of Odisha

Outsourcing defines the shift of job work involving less critical or non-core services to third party vendors who specialize in such type of services. Outsourcing has started from 1960s evolving from time sharing data process model to Business process outsourcing (BPO) and then to Knowledge process outsourcing (KPO). Business process outsourcing (BPO) involves delegation of business processes to third party with an aim for operational efficiency and achievement of quantifiable targets. Knowledge process outsourcing (KPO) goes one step beyond in outsourcing which involves delegation of domain expertise and skills for improvement of value chain. The Legacy of Outsourcing goes back to United States the need for which has arisen due to blockage of economic growth and rising costs. This has led the US companies to outsource their jobs to cheaper geographies to improve their profitability. Since then Outsourcing has become a global phenomenon spreading across countries and continents. The global outsourcing market will grow in 2015 as organizations are slowly regaining conf idence post-recession.