There are other major players in the global outsourcing market not just the Philippines. Two of the best competitors are India and China. India recently earned a big portion on the shares of revenue in the global outsourcing market; China comes in second and Philippines follows in third. Other countries are Malaysia, Russia, and Canada. The Philippines was recently seen as the third top destination in BPO activities, earning $10.7 billion or at least 7.5% of shares in total revenue. Now there are some great reasons why foreign countries choose to invest the Philippines.
BPO is big deal in the Philippines, in 2006 it earned the country $2.1 billion on offshore services revenues. The growth of BPO in the country was due to the increase in demand in call centers. Recent reviews show that other services such as legal services, web design, software development, animation, and other specific functions such as mortgage assistance are all the more reason why BPO is big in the country. Filipino workers are well-versed in the English language, not only do they speak and know the language really well they also know American culture as they have been under US colonization in ancient times. Filipino workers are educated, most are professionals in IT, pharmaceutical and the like. This qualities makes it more attractive for clients to invest and to start outsourcing to the Philippines. The government of the Philippines is in great favor on BPO, that is why they are encouraging more businesses to invest their country. Although the Philippines needs to improve on some aspects like marketing strategy, improving infrastructures, enhance more quality labor supply, and attract top/flagship clients.
Even though there are flaws to the BPO industry in the Philippines, the country still managed to improve its revenues. In 2007 the country got a $4.9 billion in revenue, in 2006 it went up to $6 billion, in 2009 in went up again to $8 billion and recent results another increase by $2 billion dollars.Outsourcing to the Philippines helped a lot of big foreign companies because of the quality of manpower that this country has. The Philippines only charges $8 average per hour compared to India which charges up to $14. Besides the fact that Filipinos are great in the English language and the labor costs is relatively smaller than the others, the global market finds Philippines’ geographical location very useful; with the country being in the heart of Asia. It will just take a short flight going to other center of BPO activities like Malaysia, China, Japan and many more. It has been proven that Filipino service is world class that’s why a huge array of clients are considering outsourcing to the Philippines.
Outsourcing the professional services has come a long way and today we see more and more business houses outsource crucial tasks in order to get the desired results.
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