The number of companies that employ outsourcing continues to grow. Companies of various sizes and sectors around the globe now employ outsourcing, as studies show:
- Market insights platform Clutch reported that at least one business process is outsourced by 37% of small enterprises.
- Tech firm IDAP said 92% of the Forbes Global 2000 companies use IT outsourcing and 59% use business process outsourcing (BPO).
- Consulting firm Deloitte forecast global outsourcing spending to reach $731 billion in 2023.
In the Philippines, the IT and business process management industry is expected to have a compound annual growth rate (CAGR) of up to 5.5% between 2020 and 2022. Read on to gain a better view of outsourcing in the Philippines.
The Philippines’ outsourcing landscape
As of 2021, Asia Pacific had around 60% market share of the global service industry. The Philippines remains popular as a primary offshore location. Outsourcing has become a major driver of the Philippine economy and its BPO industry contributed 9% to the country’s gross domestic product (GDP) in 2021.
Josh Howarth, co-founder of Exploding Topics, cited that the Philippines’ two biggest selling points are a highly capable workforce and a low cost of living. He also noted that companies outsourcing to the Philippines can achieve 70% savings in labour costs.
According to Colliers, companies are attracted to outsourcing in the Philippines because of “Filipinos’ soft skills, including customer support, English language proficiency, and cultural affinity.” It also cited that the Philippine BPOs now employ 1.44 million full-time employees and have garnered $29.1 billion in revenues in the first half of 2022.
The IT and Business Process Association of the Philippines (ITBPAP) sees a robust future for the outsourcing industry as well: “The growth of the Philippines’ IT-BPM industry will be enabled by accelerated digital transformation, robust ecosystem, skilled workforce, and strong government support.”
How Profitmaster stands out
Companies looking to outsource have a wide array of options when looking for an outsourcing company. It is thus important to conduct sufficient research when considering one. Here are a few things to consider when looking for a suitable outsourcing partner:
- Professional expertise: What are the company’s strengths? What services does it offer?
- Outlook: How does the company view your business? What are its core values?
- Reputation: What do their clients say about the company, both positive and negative?
- Budget fit: How cost-effective will their services be?
- Data security: How can the company ensure data security?
Also, consider the following factors that BPO company Profitmaster is becoming known for:
Profitmaster is an Australian-owned company that provides offshore and outsourced business services. The company specialises in:
- Accounting and Bookkeeping
- IT Management and Support
- Administration Support
- Marketing and Customer Service
Recruitment and staff selection is crucial to building the right team members for our clients. We hire high-quality offshore staff that can be onboarded in 21 days or less. Once onboarded, we conduct induction training. Employees also undergo regular training, as necessary. Every staff member is provided with all the needed equipment, IT, and VoIP connectivity.
Profitmaster ensures that we build and maintain a long-term relationship with clients that allows them to focus on their core business. Each client has direct and full access to our General Manager, who makes sure the relationship thrives by taking care of all client concerns.
Profitmaster operates from a dedicated, world-class office facility at Clark, Pampanga, Philippines. Staff work in fully-equipped workstations with high-speed internet, backed by a full-time IT support team and on-site operations managermanagement staff. Our facilities also include:
- 24-hour CCTV cameras
- High-level computer and data security
- Staff log-on/log-off software
- Training and meeting rooms
- Commercial-grade VOIP telephone numbers
- Dialling capacity of up to 8000 calls per day
The Clark Freeport and Special Economic Zone was formerly the largest foreign US airbase in the world. It has its own international airport with daily flights to major destinations in Asia. The Profitmaster office is within a banking and commercial sector, about ten minutes from the airport. There are accommodation options, resorts, and other facilities within a few minutes of the office.
Clark is located 80 kilometres north of Manila, which is a distance of around two hours by car. It is 1.5 to 4 hours from major Asian destinations. From Australia, Clark is accessible from all capital cities, and from Gold Coast through Singapore.
Helping Australian firms to outsource
Finding a reliable outsourcing partner can be difficult. Profitmaster drives the success of companies seeking to outsource in the Philippines and can help any company to:
- Look at existing process and workflow design
- Analyse what functions can be outsourced
- Map out a strategy to achieving goals through outsourcing
To start and take your first step, click here: LEARN MORE