The Philippine outsourcing has contributed so much to the growth of some global companies today. Canva, for example, started its operations by outsourcing some of its back-office support to the Philippines. And today, the company is valued at $26 billion.
In this blog post, you’ll learn more about the Philippine outsourcing and why foreign companies are taking advantage of moving their operations to the Philippines.
The Growth of Philippine Outsourcing Industry: A Brief Timeline
The business process outsourcing (BPO) industry in the Philippines has a long and fascinating history that spans several decades. Here is a timeline of key events and milestones that have shaped the growth and development of the industry:
The BPO industry in the Philippines began to take shape in the 1990s, with the establishment of a number of call centers and customer service centers. These early BPO companies primarily provided outsourced customer service and support for foreign clients, and were attracted to the Philippines due to its large English-speaking population and relatively low labor costs.
The BPO industry in the Philippines continued to grow and expand in the 2000s, with a focus on providing a range of services beyond just customer support. This includes services such as data entry, transcription, and back-office support. The industry also starts to attract more investment from foreign companies, with many setting up operations in the country to take advantage of the highly skilled and cost-effective labor force.
The BPO industry in the Philippines entered a period of rapid growth in the 2010s, as the country became the world’s call center capital. The industry became increasingly diverse, with a focus on providing a wide range of services across various sectors, including finance and accounting, human resources, and legal support. The Philippines also became a leading destination for offshore software development and IT services.
With a focus on delivering high-value services and integrating cutting-edge technologies like artificial intelligence and machine learning, the BPO sector in the Philippines continued to expand and change in the 2020s. Along with these additional difficulties, the industry must contend with the COVID-19 pandemic's effects and growing regional rivalry. Despite these difficulties, the BPO sector continues to play a significant role in the Philippine economy, supporting job development and offering work to millions of people.
List of Top Outsourcing Services of the Philippine BPO Industry
Over the years, the Philippine BPO industry expanded from contact services to a wide range of highly specialized services. Here’s a list of most outsourced services in the Philippines:
- Customer service and support: This includes inbound and outbound call center services, as well as email and chat support.
- Data entry and data processing: This covers services such as data entry, data mining, data cleaning, and data analysis.
- Back office support: This involves services such as accounting, payroll, and HR support.
- Software development: This encompasses services such as custom software development, web and mobile app development, and IT consulting.
- Creative and digital services: This supports services such as graphic design, social media management, content creation, and video production.
- Legal and financial services: This highlights services such as legal research, contract review, and financial analysis.
- Healthcare services: It involves services such as medical coding, billing, and transcription.
- Engineering services: This includes services such as CAD design and drafting, as well as mechanical and electrical engineering support.
8 Reasons Why Companies Take Advantage of Philippine Outsourcing
There are several reasons why foreign companies leverage the power of Philippine outsourcing:
Outsourcing to the Philippines can help companies reduce labor costs, as wages and other employment-related expenses tend to be lower in the country compared to many other developed countries.
Access to skilled labor
The Philippines has a large pool of highly skilled and educated workers, including professionals in fields such as IT, engineering, and finance.
The Philippines has a culture that is similar to Western countries in many ways, which can make it easier for foreign companies to communicate and work with their Filipino counterparts.
Time zone advantage
The Philippines is located in the same time zone as many East Asian countries, which makes it easier for companies to communicate and collaborate with their Filipino teams in real-time.
The Philippines has a well-developed infrastructure, including reliable telecommunications and transportation, which makes it easy for companies to do business in the country.
The Philippine government has made efforts to encourage foreign investment in the country and has implemented policies to support the growth of the outsourcing industry.
Many Filipinos are fluent in English, which makes it easier for foreign companies to communicate and work with their outsourced teams.
Outsourcing to the Philippines allows companies to be more flexible in terms of their workforce, as they can scale up or down their teams as needed without incurring the costs of hiring and training new employees.
Outsource to the Philippines and Scale Up Your Operations Quickly
Are you looking to ramp up your operations to better respond to your changing market conditions and customer demands? Then, outsource to the Philippines. Reduce your labor costs by up to 70% and work with Filipino professionals with superior language skills and world-class work ethics.
ManilaPros provides full-service Ecommerce support for businesses of all sizes seeking to scale while minimizing their overhead costs. We offer outsourcing services at a competitive price such as graphics design, product information management, and customer support. With our expertise and leadership in Ecommerce, we can help your brand stand out in the global marketplace and set up your business for long-term success.
Contact us today and learn how you can leverage Philippine outsourcing for your business!