The Philippines’ BPO Industry Stays Strong

On March 30, 2012, in Outsourcing, by Business Development Group
Filipinos are heavily influenced by the western culture as is evident in the local mass media, corporate world and the arts. Thus, Filipinos are in a better position in conversing with Americans.  English Proficiency

Filipinos are heavily influenced by the western culture as is evident in the local mass media, corporate world and the arts. Thus, Filipinos are in a better position in conversing with Americans. English Proficiency

After surpassing India as the global outsourcing leader in voice-based services, the Philippines receives a huge vote of confidence from Wells Fargo & Company, one of the largest banks in the world. Wells Fargo & Company recently announced their decision to set up their business process outsourcing operations in the Philippines. This decision to outsource to the country despite a pending US anti-outsourcing bill is a testament to the competency of the local workforce, reinforcing Philippines’ reputation as an exceptional provider of labor-intensive and IT-enabled outsourcing services.

India’s large pool of IT professionals is the main driving force behind its robust outsourcing industry. However, as outsourcing continues to penetrate a growing number of industries, the availability of IT professionals is no longer the primary factor to consider when selecting a BPO location and this enabled the Philippine BPO Industry to claim a larger percentage of the global offshoring market.

Much of this success is attributed to the country’s primary strengths. These key factors have made the Philippines the destination of choice for cost-effective, quality outsourcing services.

Cultural Affinity

Filipinos are heavily influenced by the western culture as is evident in the local mass media, corporate world and the arts. Thus, Filipinos are in a better position in conversing with Americans.

Read related article: PH can be global leader in healthcare BPO in 2012 – ICTO

English Proficiency

The Philippines is one of the countries in Asia that has the highest literacy. Filipinos from all economic and social backgrounds use English as their second language and are able to comprehend and converse well in the English language.

Read related article: Wells Fargo says BPO operations Vote of Confidence in Philippines

Low Operational Expenses

The cost of living in the Philippines and the wage rate is significantly low. Businesses obtain large savings off their operational expenses compared to getting an in-house staff.

Read related article:Knowledge Process Outsourcing

Tax Incentives

The Philippine government gives more tax incentives to BPO companies, adding up to the financial benefits of outsourcing. These incentives include VAT exemption, income tax exemption, employment of foreign nationals and many other preferential treatment for certain government bodies.

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1 Response » to “The Philippines’ BPO Industry Stays Strong”

  1. Enrique C. says:

    This article is really great. Definitely it describes how good Philippines is as an outsourcing hub. No wonder that apart from America and its "insourcing bill", even the other countries most especially coming Europe and Australia and others, they consider Philippines to bring good quality and efficient business solutions. This post really highlighted how professional Filipino remote outsourcing staff are. Here, our company Just Simply Outsourcing hire Filipinos to cater our clients quality end products of their outsourced projects.

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