A company seeking to outsource any of its business or knowledge processes has no lack of outsourcing firms to choose from, from all around the world. Countries known for their outsourcing markets include India, China, and Malaysia. But as the need for outsourcing has grown, so has the market. Among the emerging destinations for outsourcing now includes Bulgaria, Brazil, and Mexico.
Given all these players, why pick the Philippines?
Outsourcing cropped up in the Philippines in the 1990’s, and has since become one of the largest industries in the country.
The Philippines is currently home to around 851 registered BPO companies, with 575,600 workers, and an expected 700,000 more openings for medium and high-skill jobs by 2022. A 2018 report noted the country’s BPO industry growing at a rate of 15-18%, positioning it to be the country’s biggest GDP contributor.
In recognition of the BPO industry’s obligation over the staggering amounts of personal information it processes, the Philippines has also tightened data security regulations. With the enactment of the Data Privacy Act, foreign clients are assured of local BPOs’ compliance to the International Data Privacy Standard.
While the demand is great, the local market has grown to accommodate an ever-evolving variety of outsourced services and needs, and the technological advancements to deliver them.
The Filipino Factor
One of the most apparent draws of outsourcing to the Philippines are the potential savings a company might make.
The typical wage of an outsourced Filipino worker is about 75% less than an American in the same position. According to other reports a business that outsources to the Philippines can save 50% to 80% on labor and infrastructure costs compared to setting up an onshore office.
However, the classical reason given for choosing Philippine outsourcing groups has been the local BPO workers’ command of the English language.
The Philippines is the third largest English-speaking country in the world, due to the historical American influence on the country’s education system, entertainment, and media. Due to the same influence, there is a compatability with Western cultures which makes partnerships with Filipino companies smoother.
But what ultimately sets the Philippines apart are the Filipino people.
Filipinos are known for their sense of hospitality and hard work. In outsourced work, this translates to a sense of concern and supportiveness whether it’s in taking voice contacts at a call center, manning support inboxes, or processing data. A determined willingness to learn allows Filipinos to excel in providing support in any area, including healthcare, finance, and IT.
Cultural adaptability also allows Filipinos to be flexible towards the nuances and specific needs when working with foreign clients.
Visaya Knowledge Process Outsourcing (VKPO) takes the best of what the Philippines has to offer as it brings its brand of cost-efficient, high-quality service to the global stage.
Recognizing the unique value of the Filipino, VKPO invests in the training and upskilling of its people. It takes the next step, not just to provide service, but to collaborate with its clients, creating meaningful partnerships, and fully being able to act as an extension of any client’s business.
VKPO also offers clients flexibility, accommodating their very specific needs and parameters. This has seen VKPO running engagements that range from short campaigns with just a handful of seats, to multi-year projects with hundreds of agents.
In this way, VKPO has formed strong relationships with their clients over the last eleven years, even as it continues to grow in the maturing BPO industry.