When it comes to outsourcing solutions, Philippines remains as a top contender especially in the business process outsourcing (BPO) industry. In fact, business process outsourcing accounts for one of the biggest boosts to the Philippines’ economy and currently employs more than 2 million people in several sectors, boasting a net worth of $24 billion. Philippine outsourcing solutions are trusted by the oldest outsourcing companies, particularly Western and Australian companies. With a reputation of being a booming center of business activity (with a staggering 30% growth within the last decade alone), the Philippines offers the best outsourcing services since it boasts cost effective labor, quality and reliable entry services, and a large pool of professionals that are highly-skilled. Philippine outsourcing offers a low risk approach for catering to different business needs and business operations without compromising quality and costs.
Outsourcing to the Philippines made easy
The Philippine government has invested significantly to position Manila as the leading global provider of outsourcing solutions, leading to the industry being valued at $250 billion and hailed as the Call Center Capital of the World with 16-18% of the global market share. Foreign investment is welcomed and government support is very much alive. About $3.9 billion worth of investment pledges covering the IT-BPO, data center, and manufacturing sectors were also secured during President Ferdinand Marcos’ official trip to New York City in September 2022. According to the Office of the President, some companies expressed interest in investing in the country, while others are considering further expansion of their existing offices. The pledges are expected to generate about 112,000 jobs in the Philippines, opening up more opportunities for easier and accessible outsourcing solutions.
The business processing outsourcing industry in the Philippines already has several key advantages as the top outsourcing solutions destination – low cost of labor, an English-proficient and highly skilled workforce, as well as cutting-edge technology and infrastructure, are strengths that will continue to give the country an edge in the future. These are highly valued attributes to the world’s largest process outsourcing companies in places like the US, Australia and the UK that rely on outsourcing.
Outsourcing solutions in the Philippines
Philippine outsourcing solutions are guaranteed to offer a low risk approach to grow your business. The business process outsourcing sector alone has been generating $29.1 billion in revenue as of 2022 and is even expected to surpass the revenues generated by overseas contract workers, which have been the most income-generating Filipino workers for decades, according to Outsource Accelerator. The oldest outsourcing companies, mostly Western and Australian companies, commonly seek Philippine outsource solutions for banking and finance accounts, products and services, technical support, after-sales, lead generation, sales call, chat and email support, and back office.
Filipinos redefine the meaning of outsourcing solutions with their unique skill set. As employees, Filipinos always strive to deliver results because they have quality-driven single-mindedness and perseverance like no other. They are also highly trainable, so they can keep up with new tasks and job specifications quickly and effectively. The Philippine workforce is also well-known for the type of resilience that makes them resourceful during times of abrupt changes – a skill you can most likely see at work as resiliency in the Philippines always goes hand in hand with adaptability.
Why choose an outsourcing solution in the Philippines?
The future of Philippine business process outsourcing is promising, with the following factors contributing to its continued growth: the accelerated digital transformation of many businesses leading to an increase in demand for outsourcing solutions in areas such as customer service, digital marketing and IT support; the expansion of services from the Philippine outsourcing industry beyond traditional customer service and support functions to include areas such as financial services, software development, and data analysis; increased investment from the Philippine government to develop the country’s technology and infrastructure, including the education system, which is expected to further strengthen the outsourcing industry in the future; the diversification of clients from various industries, including healthcare, finance, and e-commerce, demonstrating the versatility of Philippine outsourcing solutions; and the growing demand for outsourcing services in general.
Filipinos are known for their excellent work ethic, resiliency, and professionalism. Aside from its rich culture, high literacy and communication, what makes the Philippines an ideal outsourcing solutions destination is how the country has a strong western influence that makes it easier for foreign investors, particularly the US, to conduct business operations, especially when understanding tasks, communicating with clients, and interpreting important assigned documents.
Benefits of using an outsourcing solution
As a small business owner aiming to create long-term sustained value to the business, seeking outsourcing solutions is the key to achieving this. Companies of all sizes can get a competitive edge thanks to the booming industry of outsourcing. What would have been considered out of reach for small businesses have now become accessible, since outsourcing solutions can deliver cost-savings, raise customer satisfaction, achieve high performance, extend service offerings, and provide access to the best people, skills and technologies. Outsourcing is a game changer, especially considering today’s economic climate where minimizing costs and maximizing profits are a priority. Recent trends indicate that global spending on outsourcing could hit $731 billion in 2023, with business process outsourcing projected to grow by over 9% per year between now and 2030.
Philippine outsourcing solutions automatically raises the standard of work. When you have access to more time and a diverse talent pool, naturally these factors will build and strengthen your brand – you get better concepts and better content. Having offshore staffing can enable quick development and delivery of ideas and products into the competitive market especially in terms of making your business accessible and attractive to the public.
Read: Future of Philippines Outsourcing
Outsourcing solutions for small businesses
According to Outsource Accelerator, the global outsourcing industry was worth $92.5 billion in 2019. But with the new normal reshaping the business world today, we can easily expect the global outsourcing industry to reach $114 billion by 2025 – that’s a ton of value and no doubt a ton of global outsourcing platforms for projects and resources contribute to it. And while this makes things convenient, you still have to be careful while you’re on the lookout for the right partner to help you reach your business goals.
Outsourcing is a critical tool for innovation. The shift in industry thinking led to more businesses relying on automation to get things done. Through outsourcing, you can integrate innovative technologies to your business processes as a way to ensure success. For small businesses, in particular, being able to reduce existing overheads and use the freed-up capital to develop the core, income-generating areas of the business results in stronger and faster growth. Through outsourcing, you can and you will get through the startup phase.
Choose the best outsourcing partner for your business
Clearly there are always risks involving other people in your business, and this is true regardless of whether the people will work in-house or form part of an outsourced provider. But there is no denying the convenience and advantage outsourcing offers when you’re in the market for a team because you can find almost any kind of service being outsourced by companies from around the world. These include IT, finance, sales, marketing, human resources, customer service, quality assurance testing, business process handling, data entry, and social media marketing. You just have to carefully find the right outsourcing solutions provider that you know and trust that can take care of your business.
Common obstacles like managing cash flow, hiring and retaining staff, lack of secure technology, and handling customer service can and will hinder your business operations from reaching its full potential. By partnering with an outside firm or contractor, you are able to gain insight into new technologies or processes that may not be available within your own organization. One of the benefits of outsourcing solutions is this access that helps keep your business competitive and relevant in an ever-changing market landscape. When working with an outside provider, there is often less risk involved when compared with hiring full-time employees because there are fewer costs associated with onboarding them and managing their performance throughout their work period.
If you’re a business owner looking to try outsourcing solutions for the first time or you’re in the market for the ideal partner to push your business to even greater heights, you don’t have to sweat looking for your outsourcing partner when you can turn to a reliable outsourcing solutions provider like The Outsourcer who can provide you everything that you’ve been looking for (and more) with their cutting-edge team of Filipino virtual assistants.
The Outsourcer is a game-changer in the Philippine and Australian outsourcing solutions industry, having only the best talent for all business operations you need to be done. We will work on continuous training and coaching to give you the best results for your business needs. Save on recruitment and training expenses, while maintaining successful operations to grow your business by scheduling a free consultation with us today.