Since globalization took place, the international and local business scenery has never been the same. This world became a smaller place and traditional business practices began to face a different playing field. The economy of many countries changed over the past decades, with the U.S. as no exemption. Changes to healthcare, TCPA regulation and minimum wage laws have created additional challenges for many businesses.
All of these factors have added to the ongoing challenges of businesses who aim to deliver the best services at a reasonable cost, while at the same time turning an acceptable profit. There is fierce competition as all have the same goal, best service at the lowest cost. This is where outsourcing shines the most.
The industry is booming because the people involved in Business Process Outsourcing (BPO) are able to service different ethnicities and provide true value. The Philippines has been influenced by first world Countries like the U.S. wherein the people are very adaptable to the culture. The Filipino dialect is easy to understand and Filipinos are extremely customer-centric.
The structural and economic situation in the Philippines is a big advantage that has proven to accommodate any business. The education system focuses on several necessary BPO skills such as communication, quality customer service and technical skills. In fact, The Commission on Higher Education (CHED) in the Philippines mandated and funded the Service Management Program (SMP) Specialization Track for colleges and universities throughout the country.
While there are many reasons to choose the Philippines for outsourcing as noted above, here are the top five:
- Customer service – the Filipino people are well known for their hospitality and customer service skills. Filipino call center staff score very highly on customer satisfaction surveys.
- Education – the Filipino people place a huge importance on education. A large set of the Philippine population is highly educated. In addition, since the rapid growth in outsourcing, country and business leaders have put higher education-based interventions in place to make the educational infrastructure more like the U.S.
- English fluency – English is one of two official languages in the Philippines. Most Filipinos speak, write and read English proficiently. This country, which was once under the wing of America, has retained the language and continues to make it a part of their everyday and professional lives.
- Philippine economy prepared for continued, massive growth – Philippines leaders proved they could keep up with demand over the last 15 years, growing from just 5,000 employees in the BPO space in early 2000 to more than one million today. Current and future talent initiatives account for an additional 15-20% growth per year over the next five years.
- Financial – outsourcing to the Philippines saves you money by lowering operational cost as the cost of living is much lower compared to western countries. However, the benefits do not stop at the hard numbers. Outsourcing to the Philippines helps address time zone challenges and companies have realized an overall balance of cost, scalability, quality and business environment.