Companies and enterprises of all sizes are benefiting from Business Process Outsourcing (BPO) in the Philippines. The Southeast nation of 100 million stays ahead of the increasingly heavy global competition by ensuring its call center agents receive in-depth training in relevant areas like advanced data analytics, software technology and machine learning.
According to a Reuters report, the demand for BPO services from Australia, Europe and New Zealand is steadily growing, but the United States remains one of the biggest customers for Philippines’ top outsourcing providers. BPO outsourcing companies in the Philippines are continuously innovating to improve efficiencies in their services.
Whether it’s contract processing, claims submissions or back-office tasks that need to be streamlined, these are some of the biggest advantages of outsourcing BPO to the Philippines.
#1. Talented Workforce
Once an American colony, the Philippines’ official language for all business endeavors is English, which Filipinos speak fluently with no noticeable accent. The country’s top-ranked universities churn out thousands of highly skilled graduates every year, and since the population’s median age is 23, the BPO industry’s workforce grew up with IT and entered the marketplace equipped with the knowledge and skill set to succeed. Some universities even provide BPO training courses to better prepare Filipino students for a fruitful career in the industry.
#2. Cost Advantage
Cost competitiveness is one of the key reasons small and mid-sized companies outsource their non-core operations. The cost of labor in the Philippines is substantially less than in the U.S. or Europe, and the customer does not have to invest capital in computers, office space, software or related human resources. This equals tremendous savings of up to 60 percent when compared to in-house operations. Cost competitiveness, combined with nation’s educated workforce, may explain why the Philippines surpassed India a few years ago with the largest number of voice-based BPO services.
#3. Operate Your Business Around-the-Clock
Another major benefit of BPO outsourcing to the Philippines is the round-the-clock workforce that is now available. The time zone difference means your company is hard at work providing excellent customer service 24/7, while you’re fast asleep.
#4. Greater Flexibility
The BPO industry is flourishing in the Philippines, with employees boasting a diversified skillset, from IT and accounting to finance and logistics. Outsourcing providers offer short and long-term contracts, allowing businesses to efficiently scale up or scale down per market demands. This quick and cost-effective access to top-tier talent enhances business flexibility, allowing companies to free up internal resources and relieve in-house personnel of tasks outside their realm of expertise.
#5. Access to Cutting-Edge Technology
The Philippines boasts the latest technology when it comes to internet connectivity, telecommunications, data security and IT infrastructure. Worried about outsourcing tasks involving sensitive data? The 2012 Data Privacy Act brought the Philippines’ business process outsourcing sector to international security standards. There are strict regulations that keep sensitive healthcare information private and secure.
- Small Business Trends, 20 Advantages and Disadvantages of Outsourcing from Your Small Business https://smallbiztrends.com/2017/02/advantages-and-disadvantages-of-outsourcing.html
- Reuters, Rise of the machines: Philippine outsourcing industry braces for AI https://www.reuters.com/article/us-philippines-economy-outsourcing/rise-of-the-machines-philippine-outsourcing-industry-braces-for-ai-idUSKBN1D90BH