Decoding the 2 Types of Lead Generation
Big Terms: BPO, LPO, For The Big Bosses
The Difference When Choosing to Outsource Work to the Philippines Over India
The business process outsourcing industry in the Philippines is the economic lifeline for Southeast Asian countries. BPO companies in the Philippines employ more than 2 million people. This is the most significant boost to the Philippines’ economy and foreign exchange remittances. As a result, this tiny island nation is posing as a strong competitor to established global BPO players such as India.
In the past ten years, the Philippines has seen 30% growth. This further led Deloitte to predict that the country may increase its share of the BPO pie to 20% of the entire global market. As a result, they will be able to generate more than $50 billion in revenue. So, what makes it a big deal for SMEs?
Compared to India, the Philippines has a considerable advantage when it comes to language. English is the official language in the country. Therefore, the BPO industry is full of workers who speak excellent English with accents similar to the US. The neutral accent and mode of communicating work are perfect for voice-based services. Broadcasts based in the US and UK also find working with Filipino service providers easier. That is why the country is the hotspot for Multilingual Call Center needs.
Young, Vibrant Demographic
The country has a very young population. The average age in the country is 23 years old. This demographic has grown up in a world with technology. Therefore, they have an innate understanding of how technology can be leveraged. Many youths also have access to top-level education, preparing them for the BPO sector. This facilitates their entry into the marketplace equipped with the right soft skill and complex skill sets to succeed.
Reduced Legal Liabilities and Management Issues
One of the unfortunate side-effects of running a business is leaving your processes open to liabilities and lawsuits. However, outsourcing to the Philippines absolves such troubles. This is due to these outsourcing companies being legally strong. They can support not only you but the customer and client relations as well. They help you by allowing access to a strong HR and management team.
The Philippines is one of the few Asian countries with a healthy mix of Southeast Asian and Western cultures. Much of it concerns that the Philippines was a former colony of Spain, Mexico, and the US at various points in its history. Therefore, Filipinos have grown up watching Western media and have a lot of similarities with their culture. US pop culture is also highly well-received by Filipinos. It may be a minor factor in the overall scheme of things. But the truth is that this cultural similarity plays a significant role in ensuring outsourcing call center works right out of the box when you work with a service provider based out of the Philippines.
Strong Government Regulations
The government incentives in the Philippines are recognizing the potential of the BPO industry and facilitating its growth. They have enabled a solid infrastructure and policy development. This included partnering with universities to create a BPO-specific curriculum and setting up TESDA. It has helped in funding call center training centers.
Many independent research publishers stated that the Philippines regularly ranks top in service delivery quality surveys. These have been conducted amongst clients from across the world.
Quality of Life
Filipinos have better access to amenities and better quality of life than India.
Finding Reasons to Outsource to the Philippines Amidst the Pandemic
The pandemic is still at large in the country. This is why the vast majority of organizations have implemented policies. These are to ensure employee welfare and business continuity to minimize the impact of the pandemic. These included work-from-home arrangements. Meanwhile, some operations adopted a skeletal workforce or split operations arrangement.
Thirty-five percent of these companies are from the Shared Services Outsourcing and Financial Services industries.
COVID-19 has hugely impacted our communities and the Philippine economy. But here at Magellan Solutions, we are prepared for any situation. The growth and safety of your business and ours is our utmost priority.
Finding An Excellent Outsourcing Company in the Philippines
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