Over a decade ago, the business process outsourcing industry took off in the Philippines, courtesy of a booming talent pool eager in catering to international corporations as third-party service providers. At present, the ever-growing subset is still being fronted by a combination of reduced-cost employment and a highly-knowledgeable workforce.
Firms from the BPO Manila area have been given a further boost with the Philippines National Statistic Office citing a high literacy rate in the National Capital Region (NCR) of 99.7 percent. The BPO Cebu markets have also been in a strong position for a high-end business process outsourcing activity as Central Philippines garnered a 97.7 percent rating.
Such figurative representation for a possible workforce has carried on to more international company transactions, as it has become the country’s vehicle for the promotion of not just administrative support services for BPOs but as well as managed I.T. services under the bracket of ITOs, plus the more post-grad learnings of KPOs and lastly the RPOs, which is a provider for the recruitment industry.
To expound on the services being rendered in the Philippines outsourcing arena, for the most part it covers:
– offshore management consulting
– 2b telesales and lead generation
– research and analytics
– business ops and management
Another added factor is that a large number of job recruits have a long familiarity and adaptability with the “Western” culture.To further cater to this cultural alignment for a better global expansion, other modes of customer service communications have been assimilated such as web chat, video and other forms of social media presentations.
Furthermore, the industry’s dynamic growth is in parallel with the economic outlook under the new Philippine administration of Pres. Rodrigo Duterte, as the government is in support for information technology-based productiveness thus bringing in more foreign direct investments (FDI). Notably having an influence on this matter, is the possible emergence of the large-scale business process-as-a-service (BPaaS) market in reaching a projected compound annual growth rate (CAGR) of more than 11% up to 2020.
For now, pay us a weekly visit as we discover the latest developments and innovative strategic directions in the Philippines outsourcing industry as we move forward in the year 2016.