The Philippine BPO Industry’s Rise To The Top

BPO IndustryCompanies have headed towards Asia to produce heightened profit boundaries since the term ‘outsourcing’ began tying up with the global market. Asian countries are deemed to be the most excellent choice for outsourced services given that they have abundance of proficient and talented employees. And best of all, quality services comes very affordable for business owners. In addition to this, extra skilled English-speaking employees were obtainable without problems. One of these top Asian outsourcing destinations is the Philippines, which just a few years ago, surpassed India as the top BPO destination – worldwide.

The ‘Pearl of the Orient’ has emerged as the overall leader in business process outsourcing (BPO) around the world. In terms of total number of workforce employed, the country eventually outdid India. There were two studies carried out – one by consulting firm Everest Group, another by IBM's Global Locations Trend report. The studies revealed a change at the top of the still compelling worldwide cost-cutting development. BPO has been among the small number of potentials in the otherwise declining Philippine economy with an average increase of 46% annually since 2006. Roughly deficient ten years ago, the sector has bagged from US$350 million in profits in 2001 to more than $9 billion in 2012. In 2013, it was predicted by analysts that the Philippine BPO industry’s takings will surpass $10 billion.

The Philippines’ BPO region is apparently advancing in a very fast pace. The Business Process Association of the Philippines (IBPAP) and The Information Technology bolted the development of the sector, which according to this organization, IBPAP, almost 800,000 people were employed just three years ago by the Philippine Information Technology when 137,066 new career openings were generated. With the increase of the total growth of almost 21 percent from 2011 to 2012, it revealed a strong and thriving Philippine BPO industry over the past five years.

“This number keeps them on target to reach 1.3 million in employment by 2016. We have received impressive support from President Aquino and his teams in the executive branch and we were able to pass key legislation needed by the industry,” said the President and CEO of IBPAP, Jomari Mercado, who articulated on the subject of the growth of the Philippine BPO sector.

According to some Indian experts, they think that it would be tough to go against the Philippines. With a pool of highly-knowledgeable and versatile (with flexible accents) workforce in the contact center and outsourced industry, international clients will definitely prefer the Philippines as their top choice. Normally, Filipinos ditch their average paying day jobs for a chance to start a promising career in the field of outsourcing. Locals have a deep interest in the American culture as well, that is why most Filipinos are English language-proficient without hearing their respective local or provincial accents.

On the other hand, India has set itself up to lose the outsourcing market with the shortage of prompt governmental backing, and of course, an inadequate infrastructure. In addition, there are particular issues that India is experiencing at present, such as infrastructures, producing more experienced and skilled people for the job, etc.

The Philippines is acclaimed as the call center capital of the world for the time being and definitely for the next years to come, basically for the reason that the Philippines offer nothing but quality service – and that is what Filipinos are known for all over the world.

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