What is the best country for business process outsourcing and why is it the Philippines?
People have heard the phrase “It’s more fun in the Philippines,” but did you know it’s also “More efficient in the Philippines”? Businesses thrive in the Pearl of the Orient, even the BPO industry, because of its business-friendly economy. So why is business process outsourcing in the Philippines the best?
What is Business Process Outsourcing?
People are more familiar with the term BPO, which is the abbreviation for Business Process Outsourcing. In this business, the IT-intensive processes are for an external provider. BPO is also a method of seeking service or business-related operations from an external or third party.
Why is Business Process Outsourcing Important?
Business Process Outsourcing is essential for an organization to center its resources on operations that determine it in the marketplace. Moreover, there is also a higher quality of work and better performance.
Why Consider Business Process Outsourcing in the Philippines?
The Philippines is one of the top destinations for BPO and several Multi-billion dollar companies use the Philippine BPO services. There are many reasons why a company should consider Business process outsourcing in the Philippines.
Businesses can save up to 60% to 80% of operational costs when working with Filipino contractors. This is possible because of the country’s low cost of living, and you are getting high-quality work for a low price. Moreover, the operation cost in the Philippines is significantly lower than in other countries.
Filipinos adapt well to foreign cultures, and this is because the Philippines was colonized by the Americans, Spanish, and Japanese, and western culture has been a part of Filipinos’ everyday lives. In addition, Filipinos are known for their hospitality, which is why it is easy for them to socialize in customer service roles. They are also accessible to work with because of their friendly nature.
Proficiency in English
About 70% of Filipinos are fluent in English. Filipino children learn the English language at a young age, and schools even encourage their students to speak English and are proficient in English once formal education begins.
English is also the primary language used when it comes to commerce. In addition, the Philippines ranks 13th on the EF’sEnglish Proficiency Index worldwide while it is third in Asia. Filipinos have a neutral accent, so they are easy to train when speaking in a specific accent.
Highly skilled and Flexible Workforce
The young Philippine population grows at a faster rate, and there is a lot of manpower available. Moreover, the highly educated workforce has a literacy rate of 97.5%.
Universities in the Philippines produce 500,000 skilled and qualified Filipinos ready to take on the world of opportunities. Experts say that the Philippines will benefit from the young and skilled workforce in years to come.
Data Security and Privacy
Being an outsourcing destination for over 30 years, the Philippines has adopted one of the most stringent data privacy acts. The Philippines has also been processing sensitive client data for 20 years, which is why there is assurance that all data are secured.
The Philippines has 24/7 coverage because employees are timezone neutral. You do not have to worry about your company having a different time zone because the Philippines can offer solutions 24/7 as well.
The Philippines’ most prominent client is the US, and the two countries have a 12-hour difference which is why workers cover night shifts. Filipino workers normalize working shifts at night, and there are rotating shifts which is a normal condition in the outsourcing industry.
In addition, this also makes the Philippines the best country for customer service and online sales functions.
Business process outsourcing provides additional job opportunities to thousands of Filipino workers. These resources continue to improve communities and fuel economic growth.
The outsourcing capital of the world is the Philippines. The country has a more substantial purchasing power. The stronger the purchasing power is, the more foreign investors benefit.
One of the world’s most robust BPO destinations is the Philippines. The economic growth in the country is known for its rate and force, and it is home to the most skilled and determined workers.
The BPO industry is thriving, especially in the Philippines, the Pearl of the Orient.