Business process outsourcing comes to light Philippines
The Business Process Outsourcing (BPO) industry arises in the local business scene as shown by the growing demand for local workers to work for call centers. The industry itself was regarded as the fastest, or if not, one of the fastest growing industry in the world. The business process outsourcing boom is brought about by the demand for offshore contact centers. In 2005, as estimated, 112,000 people were working in contact centers in the philippines, bringing in revenues of US$1.2 billion for the year. This is a brusque increase from 2000 when contact centers employed 2400 people and earned US$24 million.
The business process outsourcing industry is invigorated by finance or accounting, human resources, customer care and information technology services. Customer care call centers contribute the biggest part of the business process outsourcing boom locally, but then, the local language proficient information technology, human resource and finance/accounting professionals are an important contributing factors too. In the Philippines, the chief aspects in the progress of business process outsourcing were filipinos’ competency in english and spanish language.
With the statistics rising annually, the Philippines has the biggest count of accredited accountants in Asia. Local accountants are also prominent for their flexibility in working with numerous accounting standards.
Due to the strong demand for more contact centers, various areas are being developed for offshore operations such as Baguio city, Dumaguete city and Iloilo city.
In 2004, the Philippine’s Center for International Trade Exposition and Missions (CITEM) cited that the Philippines is one of the top ten choices of transnational companies for offshore operations. Topmost companies that have already operated in the Philippines include AOL, AIG, Trend Micro, Motorola, Procter & Gamble, JPMorgan Chase, HP, Dell, Intel, IBM, Citigroup, Chevron, and Barnes 7 Noble. Distinguished business process outsourcing vendors include Accenture, Convergys and Unisys.
With world class qualities possessed by Filipino contact center workers, a survey revealed that transnational companies are eyeing the Philippines as a better site than any other countries who offer their nation for such services. The study also uncovered that Philippines is the new first choice of US companies looking to setup their offshore backroom operations.
With these up-to-the-minute details uncovered by foreign investors, we could expect inflation of revenues and deflation of unemployment rate for the next years to come, if and only if the investors would not back out with pursuing their plans with the local business process outsourcing industry.
Source: http://en.wikipedia.org/wiki/outsourcing_in_the_Phils
April 28th, 2008 at 6:03 am
It is amazing how the Philippines stood out among the rest as the best outsourcing locations. A couple of years from now probably the Philippines would be the No. 1.
April 28th, 2008 at 10:44 am
So nice post!
Business processes which are non-core processes can be outsourced range from production to customer service to support functions, one such area is software development.
April 28th, 2008 at 10:57 am
nice post
It seems to happen that outsourcing is changing its phase here in the Philippines. Indeed it is really a light that shines upon the economy and marketing industry from Philippines. Its nice that outsourcing had been brought here in the Philippines…..
May 6th, 2008 at 6:06 am
It’s true Philippines is one of the top country to turn on in terms of outsourcing, Filipinos are in deed top of the food chain with in come to this line of business, not only they are capable to adapt to any settings of their employer they also are dedicated on their work making your business more productive.
May 12th, 2008 at 4:38 am
Great!!!!!!!!!!!!……
Go:-0d blog guys………
This is a good process and service to the people.
May 12th, 2008 at 7:36 pm
Yeah you are right! We do have a lot of Filipino workers that is capable to do the job that is why there’s a lot of country that offers to us a lot of job opportunities when it came to Outsourcing. Foreign countries knew how Filipino works.