Why Outsource Your Tasks to the Philippines?

Business Process Outsourcing (BPO) is a rapidly growing industry that helps companies worldwide streamline their operations, improve productivity, and maintain a competitive edge. From 2020 to 2025, the BPO market is projected to grow by USD 40.16 billion, with a CAGR of 4%. The Philippines has emerged as a top destination for outsourcing tasks, boasting numerous advantages as a BPO solutions provider. This blog delves into the reasons why outsourcing your tasks to a business process outsourcing company in the Philippines can be an excellent decision for your business, focusing on the IT-BPM sector industry roadmap for 2028 and the unique advantages the country offers.

1. The IT-BPM Sector Industry Roadmap, 2028, in the Philippines

The Philippines’ IT-BPM sector industry roadmap, as detailed by the Philippine News Agency (PNA), outlines the ambitious growth plans and targets for the industry in the coming years. By 2028, the roadmap aims to:

• Expand the IT-BPM industry in the country and solidify its position as a global leader in high-value IT-BPM services.
• Continuously innovate and develop the industry’s capabilities to meet the ever-changing demands of the global market.
• Support the growth of the local talent pool and ensure the development of world-class skills necessary for a competitive IT-BPM sector.
• The roadmap demonstrates the Philippines’ commitment to fostering the growth of the BPO industry and strengthening its position as a top outsourcing destination.

2. The Philippines as a Top Outsourcing Destination

The Philippines consistently ranks as a leading BPO service provider, thanks to factors such as:

A. High Ratings and Impressive Statistics by IBPAP in Key Outsourcing Sectors

The Information Technology and Business Process Association of the Philippines (IBPAP) has recognized the country for its outstanding performance in several areas, including:

• Top-notch Customer Experience: The Philippines has been acknowledged as the leading provider of exceptional customer service, which is a testament to the country’s dedication to delivering high-quality support to clients worldwide.
• Unparalleled Healthcare Services: As the premier destination for healthcare BPO services, the Philippines has demonstrated its ability to offer reliable and efficient healthcare solutions to clients globally.
• High Employee Satisfaction in Global In-House Centers (GIC): The country’s GICs have been ranked number one in terms of employee satisfaction, showcasing the positive work environment and commitment to employee well-being within the industry.
• Second-largest Provider of IT and Digital Services: The Philippines holds the second position in the scale of IT and digital services, highlighting its strong capabilities and expertise in providing innovative technology solutions.
• Runner-up in GICs by Scale: In terms of the overall scale of global in-house centers, the Philippines ranks second, reflecting the country’s rapid growth and development in the BPO industry.
• Fastest Growing Creative Industry: The Philippines has been recognized for its burgeoning creative sector, which is experiencing rapid growth and development, further enhancing the country’s BPO offerings.

Moreover, the IT-BPM services industry currently employs 1.57 million people and generates an annual revenue of $32.5 billion. These high ratings and impressive statistics further emphasize the Philippines’ strong position in the global BPO landscape.

B. English Proficiency

The Philippines ranks highly in English language proficiency, with the EF English Proficiency Index 2022 ranking it 20th out of 112 countries. This high level of English proficiency means that BPO companies in the Philippines can offer top-quality services to clients from around the world.

C. Talented Workforce

The Philippine workforce is highly skilled and educated, with an over 96% literacy rate and a large pool of college graduates every year. Additionally, the Philippines boasts a young and dynamic workforce, with a median age of 24 years old. This means that businesses can access a talented, adaptable, and cost-effective workforce when outsourcing their tasks to the Philippines.

D. Cost-Effective Solutions

The Philippines offers cost-effective BPO solutions, with labor costs in the country being significantly lower than those in North America, Europe, or Australia. This allows businesses to save on operational costs while still receiving high-quality services from BPO companies in the Philippines.

E. Government Support

The Philippine government is actively supporting the growth of the BPO industry through various initiatives, including tax incentives, investment in infrastructure, and promoting the development of special economic zones for BPO companies. This support further bolsters the attractiveness of the Philippines as an outsourcing destination.

3. The Growing Philippine Outsourcing Market

The Philippine outsourcing market is on a fast track for growth, driven by factors such as:

A . Rapidly Growing Economy

The Philippine economy has experienced consistent growth over the past several years, with a GDP growth rate of 6.2% in 2018. This economic growth has helped create a stable environment for the BPO industry to thrive.

B. Diverse Range of Services

The Philippine BPO industry offers a diverse range of services, including customer service, IT services, finance and accounting, human resources, healthcare services, and more. This versatility allows businesses to outsource various tasks to a single business process outsourcing company in the Philippines, streamlining their operations and improving efficiency.

C. Increased Global Demand

The global demand for BPO services has been steadily increasing, and the Philippines has been able to capitalize on this trend by offering high-quality, cost-effective solutions to businesses around the world.

Conclusion

By choosing to outsource your tasks to a BPO solutions provider in the Philippines, you not only support the growth of this thriving industry but also set your business up for greater efficiency, improved productivity, and long-term success. As the Philippine outsourcing market continues to expand, now is the perfect time to explore the potential benefits of partnering with a BPO company in the Philippines for your business needs.

Infinit-O is the trusted customer-centric and sustainable leader in Business Process Optimization to Small and Medium businesses in the Financial Services, Healthcare and Technology sectors by delivering continuous improvement through technology, data and people.