The Business Process Outsourcing (BPO) industry arises in the local business scene as shown by the growing demand for local workers to work for call centers. The industry itself was regarded as the fastest, or if not, one of the fastest growing industry in the world. The business process outsourcing boom is brought about by the demand for offshore contact centers. In 2005, as estimated, 112,000 people were working in contact centers in the philippines, bringing in revenues of US$1.2 billion for the year. This is a brusque increase from 2000 when contact centers employed 2400 people and earned US$24 million.
The business process outsourcing industry is invigorated by finance or accounting, human resources, customer care and information technology services. Customer care call centers contribute the biggest part of the business process outsourcing boom locally, but then, the local language proficient information technology, human resource and finance/accounting professionals are an important contributing factors too. In the Philippines, the chief aspects in the progress of business process outsourcing were filipinos’ competency in english and spanish language.
With the statistics rising annually, the Philippines has the biggest count of accredited accountants in Asia. Local accountants are also prominent for their flexibility in working with numerous accounting standards.
Due to the strong demand for more contact centers, various areas are being developed for offshore operations such as Baguio city, Dumaguete city and Iloilo city.
In 2004, the Philippine’s Center for International Trade Exposition and Missions (CITEM) cited that the Philippines is one of the top ten choices of transnational companies for offshore operations. Topmost companies that have already operated in the Philippines include AOL, AIG, Trend Micro, Motorola, Procter & Gamble, JPMorgan Chase, HP, Dell, Intel, IBM, Citigroup, Chevron, and Barnes 7 Noble. Distinguished business process outsourcing vendors include Accenture, Convergys and Unisys.
With world class qualities possessed by Filipino contact center workers, a survey revealed that transnational companies are eyeing the Philippines as a better site than any other countries who offer their nation for such services. The study also uncovered that Philippines is the new first choice of US companies looking to setup their offshore backroom operations.
With these up-to-the-minute details uncovered by foreign investors, we could expect inflation of revenues and deflation of unemployment rate for the next years to come, if and only if the investors would not back out with pursuing their plans with the local business process outsourcing industry.
With more than a decade of experience and hundreds of satisfied clients, Global Sky has been committed in supporting businesses on their call center needs through our effective leadership and thorough hiring process.