Business Process Outsourcing
The exponential growth of the Business Process Outsourcing (BPO) industry in the Philippines in the past 10 years has made it one of the leading contributors for the country’s Gross Domestic Product, or GDP. The Philippines is not one of the top call center destinations in the world, with Manila ranking as 3rd BPO haven. The upsurge growth of the BPO industry in the Philippines is showcased by the increasing revenues and job production as backed by recent investments. According to the website of Pinoy Partners Outsourcing Center, Inc., many companies who have chosen to embark on a BPO relationship with the Philippines have reinforced the country’s reputation an being a center of exceptional global, labor-intensive and IT-qualified outsourcing services. The Philippines are quickly becoming one of the busiest places to send to for offshore labor.
Aside from the growing call center companies and small start-ups that are establishing themselves in the Philippines, prevailing growth markets of non-voice services such as research and analytics for financial, legal and health care services have also been on the rise. The government recognizes the importance of these non-voice services, and understands that they are more likely a long-term operation because they are harder to pull out.
One of the reasons why the BPO industry is booming in the Philippines is due part to an ample amount of resources; employee and even applicants already come equipped with proficiency in the English language, both written and spoken. Many of the young employees are career-driven, a particularly appealing trait to international BPO companies. Because of the growth in the BPO industry, those who are employed there have become a great part of the country’s growing middle-class population, and thus have helped the rapid growth of other industries such as the transportation, food and hospitality services, and entertainment. This has greatly helped the economy, and the country overall. As you can see, outsourcing is profitable for those being outsourced and those outsourcing!