Years have passed since the Philippines had its first business processing outsourcing (BPO) company. Back then, the industry was only limited to a few call center firms. Now, it has turned as one of the country’s fastest growing sectors.
But are BPO companies here to last?
The Business Process Outsourcing Association of the Philippines (BPAP) thinks so. In fact, it predicts a 15 percent annual growth rate by 2016. It is confident that the industry will continue to attract more clients and set up services geared to push its people and its companies forward.
BPO is Government-Supported
The Philippine 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, the industry helps increase the nation’s finances. In fact, they 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 many businesses across the globe. This not just proves how successful the industry has become. It also shows how long it plans to stay profitable amid crises.
Below is a list of the most outsourced services in the Philippines today.
- Customer Service
- Tech 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 its workers gain from the success of the BPO industry.
Employees, on their part, get the best benefits from BPO firms and contact centers. They get to work for big companies abroad and take home a salary that local firms rarely offer.
The client, on the other hand, gets to save much on operational costs. They are able to receive quality yields without spending much on tools and staff. Through outsourcing, they get to focus on their core functions and work with low-priced yet competent labor force.
Skilled Staff at Lower Costs
The Philippines, as to other Asian countries, yields one of the best number of college graduates in a year. In 2014, it logged about 700,000 new graduates onto its list. Thus, many view the country as a promising spot when it comes to skills and talents.
So there is no doubt about the industry’s future for now. Many specialists believe that BPO companies will continue to grow further in the future. As long as foreign clients who look for cost-effective ways to meet business goals live on, the Philippines will stay as one of the best and most preferred outsourcing sites in the world.