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Offshore BPO Vendors Philippines
Increasing costs and a highly competitive business market are driving many businesses globally to outsource business processes to offshore BPO vendors. Some companies who are seeking innovative technologies and qualified personnel at competitive rates are also turning to offshore vendors.
Defining BPO
BPO or business process outsourcing is the allocation of one or several IT-intensive processes of a business to an external or third party service provider or vendor. Offshore BPO vendors are service providers located overseas.
Offshore BPO vendors in the Philippines can handle one or several of the following business functions for customers:
- horizontal business processes such as customer relations, finance, accounting and human resources;
- vertical processes such as processing of mortgages, loans, supply chain, animation
- Knowledge-based activities such as research, analytics, market intelligence and media analysis
Offshore BPO vendors in the Philippines following production and performance requirements administer and manage the outsourced-work.
Benefits of offshore BPO vendors in the Philippines
Generally and historically, companies made use of business process outsourcing strictly as a cost cutting measure. However, over time business clients have seen value from BPO more than reduced overhead costs. While outsourcing to offshore BPO vendors in countries like the Philippines still gives businesses cost advantages, more and more companies who outsource to offshore BPO vendors discover that the practice can be used a strategic approach to become more competitive. BPO enables a company to focus on its core business functions by allocating its non-core business activities to offshore BPO vendors that specialize in them.
Offshore BPO vendors in the Philippines can offer dramatically lower expenses due to the country’s low-cost labor and because these offshore BPO vendors are equipped with state-of-the-art technology and qualified personnel, they improve speed to market for many start-ups.
Core Competencies of offshore BPO vendors in the Philippines
Offshore BPO vendors in the Philippines are competent in various areas including:
- Call center/customer services
- Transcription services – Medical, Business and Legal
- Animation – 2/D or 3/D, pre- and post-production, flash animation, special effects creation, etc
- IT services – software development, website design and maintenance, database design and development, etc.
- Financial Services – accounting, bookkeeping, financial research, analysis, etc.
Other capabilities of offshore BPO vendors in the Philippines are in the areas of manufacturing, logistics, engineering and design, among others.
Offshore BPO vendors in the Philippines serve a wide market from North America to Europe including Australia and Japan and the range of services and competencies provided by offshore BPO vendors in the Philippines are equally broad.
For several years, the call center sector has been the leading force behind the rapid growth of the Philippine offshore BPO industry. In fact, the industry has grown from having 40,000 call center professionals in 2004 to over 100, 000 the following year reflecting a growth rate of more than 100 percent.
While the call center sector of BPO will remain strong, other boi service sectors are gaining momentum especially medical transcription. Additionally, large enterprises in the United States, Fortune 500 companies and startups alike have recently turned to outsourcing to Offshore BPO vendors in the Philippines in the areas of healthcare, animation or creative design, financial services, software, and engineering. The growth in these other service sectors indicates dramatic growth across the entire BPO industry.
While India is, presently, the top offshore BPO vendor the Philippines remains a strong competitor. Many industry analysts say that Philippines will likely carve its own niche in specialized BPO services.
With Philippines’ steady resource of qualified workers, strategic business location, investor-friendly government policies and incentives, up-to-date telecom infrastructures, among other advantages, experts agree that offshore BPO vendors in the Philippines pose serious competition to others in the region.
