Outsourcing BPO to Philippines - Is it a Good Idea?
Outsourcing began over 3 decades ago with companies of all sizes benefiting from this. Although India dominates outsourcing industry, there are other countries, which have emerged as alternative BPO outsourcing destinations after India. Philippines are one among these nations and even after entering a little late into the outsourcing business, this is one of the fastest growing outsourcing communities in the world.
IT-BPO business of Philippines is expected to reach $55 billion by 2020. Being a world leader in providing call center services, Philippines employs 1.5 million workers to cater to global outsourcing needs. This Southeast Asian country with a population of 100 million has emerged as one of the best outsourcing destinations in the world. All these factors make it important for companies to weigh the outsourcing benefits offered by BPO companies in Philippines before choosing the right outsourcing partner.
Benefits of Outsourcing BPO Services to Philippines
Philippines has grown from being quiet little tourist destination to one of the fastest growing BPO industries in the world. So, what makes thousands of companies opt for business process outsourcing in Philippines? We have listed some of the major benefits offered by BPO firms in Philippines for those looking to outsource -
Enormous Cost Savings
This is one of the most important reasons for companies to choose Philippines as an outsourcing destination. The availability of skilled and cost-effective labor providing the best-quality services has made this possible. Companies can get high-quality services at highly affordable rates by outsourcing to Philippines.
High Literacy Rate
Philippines boast of having a very high literacy rate of about 97%, which is higher than most other industrialized and modern countries. There are almost half a million-people graduating from the universities every year. Philippines have a large pool of freshly graduated and highly efficient workforce, which attracts global businesses for outsourcing.
The average age of Filipinos is 23 years, which represents a generation grown up with technology. This population has easy access to BPO training opportunities through independent programs and educational institutes. The BPO industry is one the best career options for this crowd that helps them learn, grow, and remain updated with the industry needs.
Most of the Filipinos speak English and are also very fluent and proficient in reading and writing English. With strong English proficiency, Filipinos provide exceptional support through any channel of communication. This is the main reason why call center and voice-based services have boomed in this part of the world.
The culture followed by the Filipinos is modern and similar to the Western culture. The American colonization effects can still be seen in Philippines. This helps Filipinos to understand the Western customers better and communicate well and provide them with competent services.
Time Zone Advantage
The location of Philippines gives companies the advantage of the time zone. By outsourcing BPO to Philippines, companies can get the advantage of keeping their business operations running round the clock. This ensures increased productivity and helps in generating greater revenues.
Supportive Government Initiatives
The Philippines government plays a major role by providing aggressive government initiatives that strengthen Philippines as value-adding destination for global investors. From several favorable policies to cost-effective alternatives, the government supports every step needed to make the BPO industry grow efficiently. Investment in IT processes, technologies, and infrastructure has been significantly increased by the government.
Is It a Good Idea to Outsource BPO to Philippines?
Although this small Southeast Asian country may not be able to compete with the bigger countries like India, it certainly has come close to giving a tough competition to bigger nations. Placed below India and China, BPO industry in Philippines is booming, making it an upcoming BPO outsourcing location. Following are some of the factors that make outsourcing BPO to Philippines a great option -
- Having strong and talented workforce, stable infrastructure, use of latest tools and technologies, and cost-effective business processes, Philippines is surely the next best outsourcing destination
- Philippines' BPO industry has been growing at a healthy rate of 20% annually and the industry is set to become a staggering $55 billion opportunity by 2020
- With the capability to efficiently handle enduring calls from highly irate customers, they successfully offer reliable solutions to complex scenarios. This makes them a destination of choice for outsourcing voice-based services
- Reduced Legal Liability is another factor that makes Philippines a preferred choice for outsourcing. Here the legal risks are mostly borne by the outsourcing provider, which frees the client from in-house politics or unanticipated lawsuits
An exponential growth in outsourcing industry will result in millions of jobs to the youth, improve the standard of living, and have a positive impact on the economy of the entire nation.
Outsource BPO Services to Philippines by Partnering with O2I
Outsource2india has been providing a wide range of quality services to global clients for over 24 years and is one of the leading BPO firms. We have a vast multi-domain industry experience of providing quality services, such as call support, data entry services, etc. to global clients from different cultures and backgrounds. Having global delivery network across the world including Philippines and India, we will help you to successfully set up your business in Philippines with our hassle-free transition plans. Besides, we also have stringent data security policies in place and have world-class infrastructure.
If you are planning to outsource to Philippines, then feel free to get in touch with us now!