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Offshore BPO Service Providers Philippines
For the last few years, offshore BPO service providers in the Philippines have been steadily growing and the country continually attracts international companies for a wide-range of BPO (business process outsourcing) services. The country’s high literacy rate and fluency in the English language are some of the reasons that make offshore BPO service providers in the Philippines very competitive.
Offshore BPO service providers Philippines handle customer care services, legal transcription, business transcription and medical transcription services, animation, software development, and shared services. BPO services Philippines also provide a wide array of financial services from accounting to credit card administration as well as engineering, logistics and human resources management support, among others, to clients in various industries.
The offshore BPO services sector in the Philippines has seen a tremendous growth over a short period of five years driven primarily by huge demands in the global market. In fact, the BPO industry in the Philippines is one of the fastest growing industries worldwide. Valued at about $350 million in 2001, offshore BPO service providers in the Philippines earned $1.65 billion by 2004. Forecasts indicate that offshore BPO service providers Philippines will generate US$13 billion in the year 2010.
Benefits
The Philippines boasts of a workforce that is highly educated English-proficient and technology savvy. These qualities definitely give Filipino professionals a distinct advantage in offering offshore BPO services. Particularly in customer interaction services, the Philippines is the number one choice for many US companies because of the strong familiarity of Filipinos to American culture and language.
In addition to the large population of qualified professionals in the Philippines, the low cost of labor in the country compels many businesses to choose offshore BPO service providers in the Philippines. The minimum wage in the country is only $7. Call center professionals who receive some of the most attractive compensation packages in the country are receiving an average of $300 a month, a fraction of the cost of labor in developed countries. Offshore BPO service providers in the Philippines offer business clients significant 40 to 60 percent cost reductions.
Moreover, the availability of good yet cost-effective IT and telecommunications infrastructure make offshore BPO service providers in the Philippines even more attractive to investors and clients.
Alliances
Offshore BPO service providers Philippines have the full support of the government, which together with BPO industry players, is making great efforts to sustain the growth of the BPO industry by creating initiatives such as BPO-related skills enhancement and improving digital infrastructures. The Philippine government intends to enhance and promote its capabilities to make the country a premiere center for quality Offshore BPO service providers.
Moreover, the establishment of partnerships with selected educational institutions to offer courses related to BPO services seek to provide and enhance the skills necessary for future BPO employees.
BPO growth areas
Offshore BPO service providers in the Philippines and the local government identified five offshore BPO services in the country that offers great growth potential based on growth rates of the BPO sub sectors in a four-year period from 2001 to 2004. These offshore BPO services are customer care (50 percent growth rate), medical transcription (the fastest growing at 130 percent, software development (30 percent growth rate), animation (25 percent growth rate), and shared services (25 percent growth rate)
Call center services, which is currently the most in-demand offshore BPO service in the Philippines , have generated more than US$1 billion in 2005 employing 100,000 people. Customer management services include providing software and hardware technical support for products, telemarketing and lead generation, and other customer care services such as order taking and arranging travel reservations. The success of the call center industry in the country has proven the capabilities of offshore BPO service providers Philippines to the global market.
Growing Market
The Philippines remains a viable contender as the best destination to find offshore BPO service providers not only for call center services but also for other BPO services and opportunities to provide these services are increasing as global companies embrace outsourcing work to offshore locations.
The clientele of offshore BPO service providers Philippines is predominantly American businesses and enterprises but in the recent years, more European companies have entered the market. The emerging markets for offshore BPO service providers Philippines continue to encourage the country to become a top global offshore BPO player.
