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Offshore Business Process Outsourcing Services Philippines
Asia continues to be a significant provider of offshore business process outsourcing services to North America and Europe as companies in these regions increase the demand for cost-competitive and quality services. In the past years, the Philippines has emerged as one of the best providers of offshore business process outsourcing services in various industries.
Multinational companies continue to seek offshore business process outsourcing services Philippines because of the many advantages the country offers.
Human Resources
The Philippines has a labor pool of 29 million skilled individuals with 94 percent literacy rate. Being the third largest English speaking country in the world, the Philippines has a level of English proficiency. There are 380,000 students graduate every year from various studies creating a vast resource of knowledge-based workers. Filipino professionals display strong customer service orientation and work ethic and highly trainable. The attrition rate in companies providing offshore business process outsourcing services is relatively low. The cost of labor in the Philippines is about one-fifth of the cost in first world countries making offshore business process outsourcing services Philippines very cost-competitive.
Location
The Philippines is located at the center of Asia, the world’s rising center of technologically advanced economy, making it highly accessible to a great part of the Asian market. In fact, it takes only a short four-hour plane ride to reach any capital city in Asia.
Quality of Life
The Philippines is a top choice destination of many expatriates for its warm and hospitable people, modern yet affordable housing facilities, high quality schools, and excellent recreation and tourist spots.
Infrastructure
Telecommunications infrastructure in the Philippines feature high quality but low cost bandwidth, multiple communication platforms, growing local networks, redundant international connectivity, presence of IT parks and IT-enabled facilities.
Government Support
The Philippine government recognizes the significant contribution of offshore business process outsourcing services to the economy and, thus, intends to boost the country’s capabilities in this area. It has established policies including investment incentives to foster a business-friendly environment in the country and further drive growth to offshore business process outsourcing services industry in the country.
Capabilities
Offshore business process outsourcing service providers in the Philippines handle various business functions for their clients from call center operations, content development (animation, transcription, writing, etc.), backroom operations (finance, accounting, human resources) and IT services (software development, systems design, etc.). Five sectors in the offshore business process outsourcing service industry emerged to become major drivers of growth.
Call Center
With a highly English proficient workforce, the Philippines remains one of the largest provider of offshore call center services in the Asia Pacific region. Call center operations in the country handle customer service, technical support, sales, lead generation, market research and other functions.
Medical Transcription
Driven by an ageing population, shortage of labor, and rising healthcare costs, the demand for offshore business process outsourcing service in the global medical transcription industry is huge resulting in great opportunities for the local industry.
From 16 medical transcription companies in 2001, there are now at least 50 firms in the country providing offshore medical transcription services. Medical transcription companies in the Philippines handle the conversion of a physician’s dictation to an electronic file format. Dictations may be regarding patient evaluation, treatment, diagnosis and the like.
The three other areas of growth are animation because of the globally recognized artistic skills and creativity of Filipino animators; software development services specializing in custom solutions; and shared services especially in the areas of finance and accounting
Trends
Analysts project a larger demand for offshore business process outsourcing services in the following areas: customer contact services, human resource management services, data search, data integration and data management, finance and accounting, distance education, network consulting and management, website services, engineering and design, market research and transcription services.
The Philippine business process outsourcing industry, which has already been providing all of the above services for a good number of years now, is set to become leading source of these offshore business process outsourcing services.
