The business outsourcing industry in the Philippines has grown annually since 2006. As of last year, there are currently 788 large and SME’s business processing and outsourcing companies in all parts of the country including in Mindanao. It holds a large portion of the global outsourcing market due to its English proficient workers. They also hold giant multinational clients in the United States, Europe, the Middle East, and Asia. These are just some reasons why most choose to offshore in the country. Cutting labor costs optimize the business process and increasing the revenue are other reasons to contract in the Philippines.
The reason why companies outsource to the Philippines is that it’s more cost-effective. Typically it is almost half of the regular labor in developed countries. Clients do not also have to pay for office space, computers, equipment, taxes, HR and other legal costs. Monetary values are also different between the Philippines and other countries. Foreign clients can give less money for more output. This may all add up to more or less 60% of cost-saving.
Hiring an offshore customer service team can ensure a 24/7 service due to the time difference. Therefore, providing effective and optimizing your business processes. You can now also focus more on your core processes. Giving more focus and attention in delivering what you do best as a company. You can start working on innovations and sales rather than dealing with little office problems and operational necessities that don’t improve your bottom line.
The Philippines have over 60 million fluent English speakers. More than 30 years ago, the Philippines instituted English as an official language to be taught in all schools, the only country in the region to do so. Today the Philippines is the third-largest English-speaking country in the world, second only to the US and UK. English is the official language for science, math, and technology. Businesses that outsource have also been well established in the country. Therefore, finding people to do the job will not be difficult. You can have teams that include senior staff that will very much provide excellence in service that you need.
Your main goal as a company has a significant increase in your bottom-line. With contracting, you can now focus on what’s important. It helps you boost your productivity and helps you make time. Most companies don’t have enough time to focus on what the business needs. Having contracted customer service will help you deal with them better as they sort it out one by one. Contracting your administrative overhead or payroll will lessen the monthly headache you have. Your offshore contractors and you have the same goal. It’s providing better services to your customers and you.