Business Process Outsourcing or (BPO) is a brick-wall, taking over a staggering portion of the country’s generated income in 2012 and amounting to $13 billion. A $2 billion accrual compared to the previous year which is $ 11 billion. A bird’s eye view given by the Business Processing Association of the Philippines (BPAP), projects that revenues of the IT-BPO industry will hit $16 billion in 2013 and have 926,000 full-time employees.
Business Process Outsourcing (BPO) is growing dramatically in the Philippines. In an interview with the executive director for internal relations of the Business Processing Association of the Philippines (BPAP), he said that Philippine Outsourcers is thriving and providing employment at a convincingly stable pace with 11% growth from 2008 to 2009. But that was then, what more at our present time frame? He also added that about 80% of the Business processing companies are from the United States.
Outsourcing companies have their backs leaned on by President Benigno Aquino III, with high hopes of doubling the total of the industry’s revenues to around $25 billion; catering to about 1.3 million Filipinos employed in different Outsourcing companies in the country by 2016.
The Business Process Outsourcing in the Philippines soared to new heights as it ascertains itself on the top, taking over as the world’s call center haven. Base on the surveys made, 45% of the respondents find Philippines to be an attractive location for outsourcing; 35% for China and 20% for India. Offering wages that tantamount to those in India, with incomparable percentage of higher quality of linguistic capabilities compared to their Chinese and Indian counterparts.On the other hand, 50% of the respondents outsource software development to India; 26% to China. Philippine Outsourcers may be leading in CRM, but it’s still outmatched compared to the technological expertise that both India and China offer to its clients.