In his white paper, Roopesh Shetty, Assistant Vice President Client Operations, discusses the importance of business adaptability and highlights the advantages and evolution of the business process outsourcing industry, specifically focusing on the Philippines.
Click on the video to the right to learn more about the author, hear his insights on this white paper, and learn what motivated him to write about this subject.
To discuss this topic, please reach out to Roopesh using the information provided at the bottom of the white paper.
Businesses that embrace and evolve with the progressing times are more resilient than those that are inflexible to change. Approximately 68% of US companies outsource to other countries primarily due to cost savings, which is an advantage because of the time difference and availability of talent. Although India has a much larger BPO market globally, the Philippines has the world’s largest concentration of call center workers.
The Philippines has a strong command of the English language, focusing on developing IT and technology resources. Most of the accredited nursing and healthcare degrees in the Philippines are accepted in the US and other European nations.
The Philippines has shown an outstanding commitment to the development of its BPO industry and has created an environment that is welcoming to businesses. In recent years, the Philippines has become known as “the call center capital of the world.” Over one million Filipinos work in call centers. According to some reports, “The outsourcing boom has helped propel the country’s economy, once a laggard of Asia, into one of the region’s fastest-growing.” The Philippines can be considered the highest quality option when it comes to call centers and other BPO services.
The government of the Philippines has helped boost the nation’s outsourcing industry by developing partnerships with universities to create BPO-specific coursework and curriculums. In addition, the country has issued tax and non-tax incentives to drive investment from overseas companies and created a voucher system that helps support call center training. Many companies in the US, Europe, and Asia have been impressed by how the workforce provides quality with better cost savings.
Although India has commanded the attention of many companies from the West due to the availability of talent, infrastructure, cost, and straightforward business model, the Philippines, even with its considerably smaller population, has created an environment that is particularly attractive to Western nations. For one, the Philippines has scored near the top of the BEI (Business English Index) in recent years and has surpassed countries like the Netherlands and Norway in English proficiency.
In addition, employees in the Philippines have proven themselves flexible on time, working well across time zones and shift changes, as well as during holidays. Being a former colony of Spain and the US, the Philippines gained the advantage of cultural compatibility with the West. With a young demographic and an additional emphasis on education and technology, the Philippines is projected to see growth in its high-valued services. The below graph shows the Philippines’ growth trajectory of high-valued services:
At Vee Healthtek, we constantly assess and evolve our landscape to meet and exceed ever-changing client and business requirements. Our new office in Manila, Philippines, provides us access to highly skilled clinical, technical, and call center resources to meet our healthcare and engineering requirements.
Recently, one of our large hospital clients was diligently looking for a partner with patient call center ability. Our plans to open a Philippines office were timely, which helped us start a new line of service with this client and helped gain its confidence and trust. The Manila location gave us access to a talented and skilled pool of resources and acted as BCP (business continuity planning) for our delivery centers in India and the US. BCP is one of the essential elements for any growing business.
Vee Healthtek has implemented and proven its robust BCP several times during flooding, cyclone, and political lockdowns in India. The new office offered further assurance of the stability and quality of our services. With delivery centers in two of the top preferred BPO destinations (India and the Philippines), Vee Healthtek is well poised to take on new challenges and develop the best possible solution for our clients.
As per one of the studies conducted in the Philippines, before the pandemic, BPO businesses already experienced decreased revenue and employment projections, considering the rise in automation and government plans to reduce tax benefits in the sector. However, the revised plan after COVID indicates an acceleration in the revenue and employment projections.
Offshoring is more competitive than ever. India, Thailand, Malaysia, Brazil, China, and other nations are among those with the most outsourcing jobs. In its January 2021 World Economic Outlook update, the IMF forecasts the Philippines’ economy to grow by 6.6% in 2021 and 6.5% by 2022. Thus, it remains one of the nations to watch as it appears to function as an important model for the outsourcing industry, the model that illustrates what works best in this highly competitive marketplace.
Offshoring is more competitive than ever. India, Thailand, Malaysia, Brazil, China, and other nations are among the nations with the most outsourcing jobs.
In its January 2021 World Economic Outlook update, the IMF forecasts the Philippines economy to grow by 6.6% in 2021 and 6.5% by 2022. Thus, it remains one of the nations to watch as it appears to function as an important model for the outsourcing industry, a model that illustrates what works best in this highly competitive marketplace.
