As a famous management guru puts it, concentrate on what you do best, and outsource the rest!
Today, many organizations, both mega-corporations, and start-ups allocate certain business processes to trustworthy, qualified service providers who are specialists in those particular domains. In fact, many of these jobs are routine, regular and time-consuming. Instead of making large investments in recruitment, infrastructure, salaries, employee-welfare and taxes, outsourcing offers a viable option. Outsourcing is also referred to as “off-shoring.”
So What’s the Buzz about Outsourcing?
Outsourcing helps conserve the organization’s resources. It fills in expertise gaps. When processes are temporary, it’s not worthwhile to hire staff. Outsourcing provides huge cost benefits in terms of:
Project completion and quality of output are assured. Organizations can focus on their core process areas rather than the peripherals. The company’s operational/recruitment costs remain minimal, while risk is shared. It gives the company flexibility in terms of processes that have a seasonal demand like accounting during the tax period.
Some of the processes that can be outsourced include:
• Data Entry
• Design and Creative
• Medical/Legal Transcription
• Software development/design/testing
• Healthcare BPO
• Document verification
• Web design/Maintenance
• Virtual Assistant
• Legal Services
• Tech support
• Human resources
More such services get included as the global village becomes a reality.
Why the Philippines?
According to reliable sources, outsourcing in the Philippines is the fastest growing employment sector in the country. The big advantages of off-shoring work to the Philippines include:
• Time zone advantage, especially with Australia
• Predominantly western culture due to Spanish colonization
• English speaking population due to American influence
• Cost-effective since salary levels are lower than developed countries’
• Outsourcing-oriented government policy initiatives
• Tech-savvy population
• Wide range of cross-sector experience
• Private-public partnerships between academic institutions and the industry
In addition to these, there are several other factors which support outsourcing in the Philippines. It was named “Outsourcing Destination of the Year” three times running by a prestigious UK body. There is an inherently service-oriented culture here, with hard work and politeness being natural traits. The Philippines government has also invested heavily in education with primarily a Western-oriented university system. With the requirements of the BPO/Outsourcing Industry in focus, many universities offer a BPO-oriented curriculum.
Hence, there’s a highly-qualified, work-ready force of employees who can take on a variety of domains. The country has one of the largest English speaking populations in the world and the accent is neutral, making it globally understood.
Today, outsourcing in the Philippines includes such advanced technologies as social media networking, cloud-computing, app design, analytics, research, and development. Selecting the right service provider is also important. Find one that matches your needs, budget, and size. Look at track-records, certifications and easy access to higher management.
Keeping these factors in mind, the global outsourcing market is set to cross $400 million plus by 2016 and the Philippines is one of the front-runners in the race for the top spot! Stay on the winning side!