Business process outsourcing BPO is expanding at a rapid pace and emerging as the top growing industry in Philippines. Philippines is recognized as the second largest BPO destination in Asia- Pacific. It is one of the largest Bpo service provider and is recognized by the world’s recognized brands such as Procter & Gamble, AIG, Shell, J&J, JP Morgan, HSBC, Sun life, Chevron/Texaco, Time Warner, Intel, Alitalia, Navitaire, SPI Technologies, Canon Information technologies, IBM, UPS, AOL, and Citibank to name a few.
Marketing Philippines as Bpo boom destination is currently led by demand for offshore call centers. In 2006, the Philippines raked in offshore service generating revenues of $2.1 billion and moved to third place behind India and china and slightly ahead of Malaysia, to secure the number one spot. To achieve and sustain this rapid economic growth, the Philippine government is offering significant fiscal and non-fiscal incentives to attract foreign direct investment in BPO industry encouraging the investment, as part of the 2006 Investment Priorities Plan.
According to a survey conducted by the U.S.A based Meta group, Philippines was ranked the fourth country among Asian countries on the basis of labor quality and is ranked the number one in terms of availability of knowledge-based jobs and workers worldwide. Low cost and high skills are offered by the islands and they share a language and legal system with the U.S. At present the outsourcing sector employs more than 200,0,00 people and that is still way behind India’s 750,000, but Manila is catching up fast.
For outsourcing sector, the government continued to focus on developing human capital through education and training to keep a steady supply of talent. The outsourcing industry by business process association of Philippines is expected to generate $11 billion market and about 900,000 people to be employed in 2010. Filipinos are recognized as one of the world leading source of IT professionals outside of the US. Filipino programmers are well known for their creative design-skills, technical knowledge, and fluency in English and are also very well known to be hardworking and service-oriented.
The Philippines is one of the best outsource location; many choose Philippines for outsourcing support due to following reasons:
English speaking and highly skilled labor force.
Powerful and reliable telecommunications infrastructure.
Low capital cost of qualified personnel.
In recent years, the Philippines outsourcing has become an attractive offshore destination of choice for call center outsourcing, specializing in customer support. Many leading and multinational companies have used Philippines as a global center for customer service because of Filipinos high level of English proficiency and strong customer orientation. But they may not be as a massive as an offshore provider of web and software services as India.
Philippines hold great promise in the customer service industry. Although India does charge lower price than the Philippines for data encoding work, India charges around $4 (U.S.) and $6 in the Philippines, but most of the multinationals are choosing the Philippines because of the high quality of work.
Over any other Asian workforce, Filipino workforce has the most compelling advantages as an investment destination. Among all the countries, it has the highest literacy rate (94.6%) with higher education priority. With the priority to English that is taught in all schools makes the Philippines the worlds largest English-speaking country and there are some 350,000 graduates enriching the professional pool every year. Today, Philippines as a fastest growing region in the heart of Asia and is located within four hours flying time from major capitals of the region. Philippines is a gateway of international shipping and air lanes being suited for European and American businesses and is the entry point to over 500 million people in ASEAN market.
Philippines lifestyle will discover the best of sun, sea, sand and style in the tropical setting teeming with the best of western amenities. It is also the second home to travelers, who enjoy the company of the warmest people in the region, the country’s openness to varied cultures and also a growing desire to have a global outlook.
As the economic and trade integration with ASEAN free trade agreement has strengthened, Philippines had become the most strategic location for firms that want access to the large ASEAN market by providing vast trade opportunities.
Daven Michaels is an award-winning outsourcer and author of the book, ‘Outsource This!’ Daven has been honored more than any other individual or outsourcing organization. You can get more information on outsourcing by visiting www.123Employee.com
Considerably, the post is in reality the greatest on this worth while topic. I harmonize with your conclusions and will thirstily look forward to your coming updates. Just saying thanks will not just be sufficient, for the exceptional clarity in your writing. I will immediately grab your rss feed to stay informed of any updates. Good work and much success in your business endeavors!