The concept of offshoring different services has gained immense popularity in the last two decades across the globe, owing to the emergence of advanced communications and information technologies allowing easy transmission of data and tasks. In fact, the global outsourcing industry is one of the few industries which have thrived in uncertain economic environments easily. While organizations in countries like USA and Canada have established themselves as one of the top outsourcers, Asian countries including India, China, and Philippines etc. have proved to be the best destinations for outsourcing IT and ITES oriented projects.
Philippines - A Popular Business Process Outsourcing Destination
BPO (Business Process Outsourcing) is a type of offshoring where some or all the operations of a business organization pertaining to a particular business function are contracted to a third party. Popular operations which are outsourced include contact or call center operations, back offices and knowledge processing outsourcing, animation, software & mobile app development, game development, medical transcription, animation and engineering design.
Outsourcing such business operations to the Philippines offers a plethora of advantages, and that's why it has established itself as one of the best outsourcing destinations across the globe. The growth of outsourcing based service providing companies in the country has given an incredible boost to BPO careers in the Philippines, so much so that this country, which recently faced an employment crisis, now offers its youth and experienced professionals a large array of high-paying job opportunities.
Vital Facts Pertaining to the BPO Industry in Philippines
Here are some of the vital facts that exhibit the immense growth which the BPO industry in the Philippines has made -
Philippines is the second best offshoring destination in the world for BPO services after India.
Philippines is the global leader in the voice based BPO services.
More than one million employees work for BPO companies in the Philippines.
The industry revenue of BPO industry in the Philippines is expected to cross $25 billion by the 2016-17 FY.
Industry experts believe that the BPO sector will produce 1.25 million jobs in the Philippines and reach the revenue of about $55 billion by 2020.
BPO Careers in Philippines
IT-BPO is among the most dynamic and emerging industry sectors in the Philippines. While many people possess the notion that the BPO industry in the country is solely comprised of Call Centers, it is not the truth. Call Centers are a vital part of the entire industry, but offshoring companies in the Philippines offer several other job opportunities to its citizens, most of which are technical in nature.
The BPO industry in the Philippines has expanded greatly since its inception, and currently exhibits incredible dynamism while offering the talented software development and back office professionals a myriad of lucrative job opportunities.
As the industry is growing, the people seeking a bright and successful BPO career in the Philippines have started to get their desired job opportunities. Not only English speaking professionals can get jobs in the contact centers, but, one's with technical skills can also expect to work on development projects being pursued by offshoring firms in the country. Given the current support and the development of favorable factors, the technology intensive companies could considerably shape the service industry future in the Philippines.
Growth Potential of BPO Industry in Philippines
The growth of BPO in Philippines possesses an unlimited potential owing to the benefits that the companies are getting by outsourcing their business processes here. Outsourcing offers competent, cost-effective yet skillful labor, and Philippines is amongst the countries which offer great cost savings by delivering the required services at quite affordable prices.
As per a survey conducted by an organization that ranks and analyses the top 50 destinations which offer the best outsourcing services, Philippines managed to achieve 9th rank in 2011, and since then, the BPO industry has only expanded in the country. Overall, the BPO industry possesses the potential to stand at the forefront of the global BPO race, provided it works on a few aspects including the development of strict legal frameworks for the BPO industry, produce more IT aspirants, develop the human resource pool in the country and establish the necessary infrastructure.
Government Support for BPO Industry in Philippines
One of the biggest driving factors behind the BPO career growth in Philippines is the immense support offered by the government of the country in developing the infrastructure and fostering a supportive environment that includes the introduction of a broad array of academic courses which prepare the job aspirants with the required skill set.
The support provided the government of the Philippines is quite evident from its policies, laws and initiatives. With the surge of BPO industry in the Philippines in 2001, its government set up the ITTEC (Information Technology and e-commerce Council) to serve as the highest policy making body and one of the cardinal aims of this council is to develop the country as one of the best e-Services hub across the globe. Also, the Vision 2020 Roadmap elaborates the government's initiatives to enhance the infrastructure in the country which can deliver a positive growth environment to the offshoring firms. The exceptional support of the Philippines' government has proved that any country's economy and social growth can be influenced by the positive initiatives by its government.
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