Business Process Outsourcing (BPO) in the Philippines on Full Blast

The global offshoring market continues to enjoy rapid and exponential growth in spite of the seemingly worsening global financial crisis that has befallen the world. The global leaders of the business process outsourcing or BPO industry, namely China, India, and the Philippines have all experienced massive annual growth rates, all exceeding 30%. BPO is expected to continue growing for several more decades as its unique and great benefits are undisputed all throughout.

Contact Center Outsourcing or CCO has been the uniform majority sector in the BPO services of the global leaders. The CCO market has grown to epic proportions and is now valued at more than a hundred million dollars. Despite constant dominance over the offshoring industry, CCO is now striving for ways to grow and further develop. CCO has traditionally been geared towards cost-savings, but is now shifting towards quality and efficiency. The increased demand has triggered a directly proportional increase in supply, which has in turn caused tighter competition among providers. The strict competition was the one that has initiated the shift of gear.

Outsourcing keeps on growing and expanding comprehensively and aggressively over key geographical and strategic locations all over the globe. The Philippines has been eyed by developed countries as the source for English voice-based services, primarily customer service related processes. The Philippine’s huge and rich pool of English proficient and neutrally accented workforce gives it a unique competitive advantage in the battle for global BPO dominance.

The Philippines slowly takes the global BPO spotlight from China and India. On year 2008 Philippine President Gloria Arroyo has targeted and exceeded a 40% growth rate. The same rate will be tried to be beaten this 2009. The country is already recognized as the premier provider of IT based process outsourcing services. The archipelago ranks second only though to India in terms of the amount of BPO workforce offshored

The Philippines eyes BPO as both its main shield against the many ails brought about by the global financial crisis and its main weapon in meeting multinational companies head on in the market. In spite of being happy about everything it has achieved in the industry, the republic is anxious to lose the momentum it has built throughout the years and is determined to reap more. Large amounts of efforts have been put by the government in its attempts to further improve its global competence in the fiend of business process outsourcing.

The Philippines also excels in the fiend of legal and medical transcriptions outsourcing. Offshore transcriptions providers do generally medical reports, discharge summaries, operative reports, therapy/rehabilitation notes, chart notes, and hospital and clinic reports utilizing the latest and most cutting edge software and technology from the US. Each Filipino transcriptionist can usually transcribe a maximum of 1,000 lines per day at only 2% maximum error rate. The normal turnover is only 24 hours and service is usually offered 24/7.

The Philippines has also become the international hub for shared corporate backroom operations, most specially in the financial services field namely accounting and bookkeeping, account maintenance, accounts receivable collection, accounts payable administration, payroll processing, asset management, financial analysis and auditing, management consulting, inventory control and purchasing, expense and revenue reporting, financial reporting, tax reporting, and other finance-related services; as well as for logistics management, and cargo shipment management.

The Philippines is also at the verge of becoming the global leader in the provision of low cost yet top of the line animation and software development services. In fact, Filipinos are highly sought after by the big animation and software development companies throughout the world.

The Philippines has all it needs to be the global king of business process outsourcing. And the Tom Green founded CallComInc BPO has everything necessary in becoming the king of Philippine BPO. CallComInc is also a partner of the Al Roker Jr. endorsed 4StepstoSuccess Action Plan.