Years have passed since the Philippines had its first business process outsourcing (BPO) firm. Back then, the industry was only limited to a handful of call center firms. Now, it has become one of the country’s fastest growing industries. Yet, are BPO companies here to last? Therefore, why should you choose the Philippines as your outsourcing partner?
The State of BPO Companies in the Philippines
“Based on the 2022 Roadmap of the IT-Business Process Association of the Philippines (iBPAP), the BPO sector is expected to generate $40 billion in revenues; 7.6 million direct and indirect jobs; 500,000 jobs outside of the National Capital Region; and cover 15 percent of the total global outsourcing market by the end of 2022.”
Source: The Manila Times
BPO is Government-Supported
The Philippines government has always been there to support the industry’s growth since day one. Since 2005, it has been giving $1.1 billion to $1.4 billion in incentives to BPOs and in-house contact centers nationwide (BPAP, 2014).
In return, it has helped increase the nation’s finances. In fact, BPO firms added around $4.4 billion to $5.4 billion in revenues through personal, corporate, and other taxes.
Offering Varied BPO Services
From basic call center solutions, the country now offers a wider range of BPO services to businesses around the globe. It not just proves how successful this trade has become. Further, it shows, too, how long it plans to stay profitable in the midst of crises.
Below is a list of the most outsourced services in the Philippines today.
- Customer Service
- Technical Support
- Inbound and Outbound Sales
- Data Processing
- Medical Transcription
- Information Technology
- Writing and Proofreading
- Online Marketing
- Graphic Design
- Web Design and Programming
Benefits that Go Both Ways
Both the clients and their workers gain much from the success of BPOs. Then, employees get the best perks often. Further, they can work for big firms abroad and take home a pay that local firms can seldom offer.
Employees, on their part, get the best perks from BPO firms and contact centers. They get to work for big firms abroad and take home a pay that local firms rarely offer.
In contrast, the clients save much on working costs. Likewise, they can receive quality yields without spending too much on tools and labor. In addition, through outsourcing, they get to focus on their core functions and work with a low-priced yet competent labor force.
Skilled Staff at Lower Costs
The Philippines, as with other Asian countries, yields one of the best numbers of college graduates in a year. In 2016 alone, it logged around 700,000 new grads to its list. Thus, many are seeing the country as a promising spot for skills
For now, you can’t doubt this trade’s future. Many believe BPO companies will carry on to move further. As long as foreign clients who look for worthwhile ways to meet their business goals live on, the Philippines will stay as the best outsourcing site in the world.