The Philippines has now established its presence as a promising outsourcing destination in the world. But the question then is; what makes outsourcing BPO services to the Philippines extremely advantageous?
Various factors and reasons have been attributed to the success of the Philippines on the global terrain, with the most outstanding ones being the following.
1. Support from Government
The World Bank approximates that BPO and related IT services in the Philippines have the likelihood of generating earnings of about USD 55bn by 2020, which is about 11% of the country’s Gross Domestic Product (GDP). The Government of the Philippines is boosting this growth further by pruning bureaucratic procedures in establishing new businesses and announcing tax-holidays in the Philippines, and doing everything possible to make outsourcing BPO services to the Philippines a more lucrative option.
2. Powerful BPO Culture
The Philippines has innately acquired the American English accent and western culture, with American presence till 1946. This acquisition is now helping BPO Philippines companies to establish their supremacy predominantly. It is anticipated that India the most currently favored outsourcing in the on-going decade, India, the most favored outsourcing destination at present, may lose USD 30bn to the Philippines in terms of foreign exchange earnings.
3. Experienced and Knowledgeable Manpower
The Philippines is highly focused on offering the needed manpower to strengthen its human resource potential, with 30% of graduates directly employable into the flourishing BPO sector. In addition, the training and the work scholarship program from the government given to the BPO aspirants, further guarantees that more resources are employable.
Outsource BPO to Philippines and Save Costs
The Philippines is doing everything possible to become the number one country for engineering and back-office outsourcing services, with such a booming and vibrant outsourcing industry.
The Main Outsourcing Verticals in the Philippines
At present, the Philippines is dominating the outsourcing scenery in the following areas:
1. Software Development
The Philippine Software Industry Association (PSIA) hosted the biggest gathering of software professionals in the country in 2014 to expose them to global engineering strategies in order for them to match international standards as far as software engineering services are concerned.
Philippines is aspiring to grab more software development contracts like developing applications based on mobile platform development, the Internet of Things (IoT), and lots more, to make BPO Philippines a perfect destination for software services.
2. Accounting and Data Entry Services
Most back-office and data entry and tasks like accounting services are now being outsourced to the Philippines, in addition to voice-based services. BPO organizations in the Philippines are currently working hard to be among the major outsourcing centers for all back-office operations, supported by the talented workforce and positive government regulations.
3. Voice-based Outsourcing
Without a doubt, the Philippines is now the number one destination for voice-based services, with its American English accent and western cultural influence. As India is losing its shine due to its non-western business culture and thick English accent, nearly all voice-based outsourcing is now going to the Philippines. It is estimated that about 70% of voice business and incremental call center in India will as well be lost to foreign competitors, particularly the Philippines, according to ASSOCHAM.
4. IT Services
DTP, graphic design, digital marketing, SEO, multimedia, and Web designing services are some of the key areas that are experiencing an increase in outsourcing to the Philippines. This is a sign that BPO companies in the Philippines are now offering quality services behind the voice-based and traditional back-office services.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.