While the concept of KPO is said to have its roots in India in the 80’s, the Philippines is steadily gaining momentum as a serious contender in the Knowledge Process Outsourcing industry.
As a former American colony where the educational system is patterned in a very similar way with the States, the Philippines for years is known to be the call-center hobnob in Asia.Majority of the working class in the Philippines are made-up of highly educated and, more importantly, English speakers. Fortunately because of globalisation, the increase in the number of Filipinos who are skilled in the specialized fields of Finance, International Law, Research, Design and Animation, and Asset Management are steadily increasing. These fields are on a different level than the services which comprise the BPO industry.
The Philippines has achieved significant contributions to the economic growth of the country because of voice contact centers but high-value and non-voice services like financial analysis, insurance and banking are being expanded. These fields as well as the ones mentioned above need professionals with certifications, licences, and PhD’s. These qualifications are very costly in the Western world if a European company, for example, is planning on taking a team of lawyers and research engineers to handle its patent design and licensing departments.
The laws of the Philippines have great similarities to the laws of the United States of America so companies are expecting from 20% to up to 40% savings in cost if they outsource their legal processes in a reliable company such as Optimum Source.
In addition, the confidence of the global market in the stability of the workforce of the Philippines has improved since the government has been supporting the nation’s students in educational programs which will fill the demand for jobs in KPO. All these positive news is going to fuel the Philippines as a major key player in the international arena for KPO in the coming years.