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Business Process Outsourcing Companies: Why the Philippines?
There is an increasing tendency of companies operating in expensive cost centers in North America, Europe, Middle East and industrialized parts of Asia to outsource much of their back office solutions and services to cheaper cost centers worldwide. And this trend has given rise to business process outsourcing companies in the Philippines, which is regarded as the fastest rising industry in the country today.
Business process outsourcing companies in the Philippines are viewed as the top choice for destination for business process outsourcing services in a global landscape. Some very crucial operations that are subcontracted to business process outsourcing companies in the Philippines include customer service and support, human resource management services, logistics solutions, accounting services, and finally, information technology maintenance.
Customer Service Support
Business process outsourcing companies in the Philippines have surpassed India in the global business process outsourcing industry. Especially in the field of customer service and support, business process outsourcing companies in the Philippines provide better customer service orientation and interaction.
Closely affiliated and familiar with American culture, this former US colony has a social system that is noticeably related to the United States. Even the Philippines’ educational system is taken after American school system and standards; therefore, American style English—with a neutral, understandable accent—is a native skill among educated Filipinos.
This characteristic measures well with the success of business process outsourcing companies in the Philippines. As the largest client base of big business process outsourcing companies worldwide are Americans, Filipino workers in business process outsourcing companies provide warm, smooth, and pleasant manner of dealing with customers of business process outsourcing companies in the Philippines.
In contrast, other countries offering business process outsourcing services are often put down for language barrier. India, for instance, speaks British-style English complicated more by stiff Indian accent. It is important for business process outsourcing company workers to have a neutral and clearly audible accent as transactions are done through telephone or voice-over-internet protocols.
Human Resources Management, Accounting and Logistics Services
Business process outsourcing companies in the Philippines are fast becoming the headquarters for corporate back end services. The Philippines has the largest registered accountants in Asia. Plus, the accepted accounting principles are closely patterned to those of the United States. Therefore, business process outsourcing companies in the Philippines are highly competent in providing backroom financial solutions like bookkeeping, accounts receivable and accounts payable management, and even financial analysis and stock brokering.
Business process outsourcing companies in the Philippines can also cater to payroll processing, tax administration, recruitment, litigation and claims administration needs for human resources management.
Business process outsourcing companies in the Philippines have the advantage of being located in a globally strategic area. Thus, business process outsourcing companies in the Philippines are an excellent destination for logistics and cargo or shipment forwarding services.
The Philippines has a large pool of English-speaking, computer-proficient professionals that can handle simple and complex accounting, human resources, and freight solutions. In fact, the Philippines is ranked 16th out of forty-nine countries in terms of global business experience done by a global competitiveness survey.
Information Technology Solutions
The Philippines boasts of its modern and excellent telecommunications system. Aside from the infrastructure, superior information technology professionals are a dime a dozen too. With this, business process outsourcing companies in the Philippines are host to world-class information technology system and operators. From software development to animation and computer game creation, business process outsourcing companies in the Philippines definitely have the edge.
On the issue of cost optimization, business process outsourcing companies who set up shop in the Philippines have reported net profit after tax of 20% to 25% of total turnover versus the 5% to 10% results for business process outsourcing companies in the United States and Europe. This means, business process outsourcing companies in the Philippines enjoy cost-competitive business environment in terms of information technology infrastructure, human resources, and even real estate.
The strong government backing for business process outsourcing companies in the Philippines has open up more perks and means to further grow the business process outsourcing industry in the Philippines. A good example is the liberalized telecommunications industry that ultimately benefits business process outsourcing companies in the Philippines by enabling access to all possible channels of international communication.
With all the above mentioned features, there is no wonder that business process outsourcing companies in the Philippines are the best in the industry. The country and the people are in a very favorable position to respond to the demands of the business process outsourcing industry.
