The Philippine economy is projecting a robust, favorable, and healthy economic trend in the future. The outsourcing industry has helped a lot in this economic growth. The Philippines is on the top list of choices in connection to the outsourcing industry. The World Bank reports that in 2010-2019, a vibrant economy is emerging for the Philippines. It also stated that it is the most dynamic economy in the East Asia Pacific region.
But, do you need to outsource your projects? Let us give you some points on the importance of outsourcing and how it can benefit your business.
Grow your business with Outsourcing
1. Cost-benefits. You can cut your costs when you outsource your projects. For example, if you are in the IT software programming business, production costs may be an issue in your home country. Similar software development tasks can cost lower in some countries. The Business Processing Outsource (BPOs) industry alone saves up to 60% of expenditures.
2. Improved efficiency. When you outsource your projects, it means partnering with a company of your choice from the Philippines. Outsourcing companies in the Philippines often have the necessary skills needed to complete tasks. Moreover, it also increases the efficiency of both companies as a whole.
3. Save on setup and technological pieces of machinery. Since the outsourcing partner will take over infrastructure setups and technology, it will be an advantage on your part. You only have to pay for the charges requested and receive an output specified.
4. Faster turnaround time equals high-quality services. Since most of the essential tasks are performed elsewhere, you can now deliver your services better. Not to mention the truth that the turnaround time for outsourced projects is reduced significantly.
Why Outsource Your Projects in the Philippines?
India and the Philippines are two of the most popular countries concerning the outsourcing industry. Both are excellent in providing their clients the services they require. In this article, let us see what makes the Philippines a better choice for your projects.
- English as a Second Language (ESL). The Philippines has adopted English as a common language and spoken by almost all Filipinos in the urban communities. The outsourcing industry requires all their employees to have at least fluent English. The Philippines currently ranks third in Asia in terms of English proficiency, according to EF EPI. Western companies outsourcing to the Philippines encounter minimal problems as to giving instructions and conducting meetings.
- Filipinos value their work immensely. They do not want to let their loved ones down. This motivation makes them better workers at what they do. The fear of losing a job turned them excellent for what they do.
- Filipinos charge less for a quality output. As reported by industry data, companies in the Philippines charge 30 to 60% less than in First World countries. When compared to American counterparts, the lesser charge of the Filipinos is the same for the outstanding quality of work. Filipinos’ skills are unquestionable. Their contribution to your business will surely augment the capacity of personnel without overspending.
- Filipino workforce is patient and determined. In the BPO industry, agents are to handle disturbing customers. Without patience from these agents, the BPO industry in the Philippines will go down the drain. However, determined Filipino workers are showing immeasurable patience and understanding to all their clients. Add to it the fact that Filipinos are friendly and thoughtful.
Skills of Filipinos That Are Outsourced Abroad
In a recent study conducted by Tholons Top 50 Digital Nations, India remains the top in the list. In the same report, the Philippines is Top 2 among the countries with a high number of outsourcing companies. Though considered to be a late bloomer in the industry, it is getting higher attention more than ever.
The infrastructure acceleration initiated by the government helped in the economy-boosting. In 2020 alone, despite the plague of the pandemic, the Philippines has shown a resilient economy.
What are the skills Filipinos possess that shall help you in your startup business?
- Software Developers. A growing number of computer programmers in different fields has shown great potential in the outsourcing industry in the Philippines. Most of these workforces or developers prefer working at home instead of the office-based schemes. Fortunately, most of these developers have a degree in software engineering and other related courses.
- Content writers. The emergence of the SEO industry has prompted skilled writers to come out of their comfort zones and excellently providing write-ups, articles, stories, blog posts, and similar products to cater to the need of the internet. A growing number of site owners are needing the help of content writers to optimize their websites and rank on top of Google searches. In the last year alone, writers from the Philippines significantly showed an increase in the Upwork platform – an online freelancing site that connects clients to freelancers.
- Call center agents. Undoubtedly, the Business Process Outsourcing sector (BPO) is the most successful type of outsourcing talent in the Philippines. As per the report of the Tholons, the Philippines is dubbed as the “BPO Capital in Asia.” Almost 1.3 million jobs are generated by the BPO companies.
Maximize the Benefits You Gain When You Outsource Your Projects
Philippine’s talents are to make sure that they deliver the best possible workforce they can offer. Their skills and the large talent pool you have will surely be of great advantage to your business. Having other tasks in your company like software development projects outsourced in the Philippines will increase your profit significantly.
In countries where the hiring fee for talents is very high, partnering with an outsourcing company is not a bad option. Outsourcing is equal to investment. Just like every wise investment you have, a return will surely be recorded in your books.
- Focus on your core areas. Outsourcing will free your business from the energies and time intended for the outsourced project. You can now focus more on your core areas of business like maintaining your presence in social media, attracting more clients to your business, improving your brand, investing in research and development, and providing high-value services to clients.
- Accessed to a pool of skilled resources. When you outsource your projects, you will be engaged to a pool of resources that you can use now or at a later time. At any angle, outsourcing for your business is always putting you on the winning side.
Indeed, as technology advances and new ways of doing business are implemented and developed, we want to take advantage of these changes. Of course, engaging in a business is engaging yourselves into risks – you should be ready to absorb them all.
The Philippines’ economic system is now ready for reaping. The COVID-19 pandemic has hugely affected the economy of countries around the world. On the other hand, the Philippines ‘ economic trend is showing resilient indications.
The benefits you get in outsourcing projects for your business will yield profit, and you can save significantly on costs related to workforce, infrastructure, and technology. Moreover, it will certainly boost the quality of the services you provide to clients – be it related to software programming, BPO services, IT-related products, technological advancements, and customer relations.