Companies of today reside in a globally connected market where countries’ economies are interdependent with each other. Globalization has also brought the outsourcing business strategy to life by integrating various countries’ offerings into a big bowl of allocated resources.
The Philippines is one of the countries in the Asia and the Pacific region, which ranks highly in the business process outsourcing (BPO) industry. The country ranks second, right next to India, as a global provider of outsourced business services such as technical support, information technology, and other specialized skills as of October 2014.
Why Companies Outsource in the Philippines:
- Reduced operating costs
Many companies outsource in the Philippines because of the considerable reduction in operating costs it incurs as compared with doing the same processes in-house.
- Government support for foreign investments
The local government is very supportive of companies that build BPO services, ensuring a sustainable solution for companies who avail BPO services. BPOs work hand in hand with the Department of Trade and Industry (DTI), Department of Foreign Affairs (DFA), and the central bank in the Philippines in determining optimum infrastructure, regulations, and legal support specific for outsourcing services.
- Supply of quality employees
The Philippines churns out millions of skilled graduates at an annual rate, ensuring global companies a steady supply of quality providers of their much-needed services. BPOs also ensure that their employees undergo rigorous language, technical, and product-specific trainings before they are trusted with handling clients. These training programs are also constantly recalibrated so as to ensure that employees’ knowledge is up to speed with the rapidly changing global technologies.Majority of local employees are fluent in the English language and are even trained for multiple languages. Their flexibility in adapting to various foreign accents is also a strong suit.
- Range of choices in BPOs
Many of the largest BPO companies have established their roots in the Philippines. They have also since branched out into a number of central business districts in capital cities and island provinces. This ensures that companies have various choices on hand in case of an emergency or additional services not offered by their initial choices.
- Trusted Experts
The country owes its economic wins to the bright minds it produces. Trusted experts trained locally and abroad are employed and/or consulted in the BPO field, providing clear leadership or guidance to the various industries that BPO companies cater to, which includes science, technology, agriculture, communications, design, education, and more.
- Rich Expatriate Community
Many foreign expatriates have expressed their affection for the Philippines, where they can work during the weekdays and find time to drive or fly to the nearest vacation destinations. Doing business in the country allows for multiple networking opportunities with people in the same industry and or sharing the same issues. The country provides a rich professional and personal life for foreigners who are assigned to work in it.