Before 2020 started, an international market business insider listed the Philippines as the second-best country to outsource in the world. Despite the hundreds of countries that accommodate all kinds of outsourcing, the Philippines remain thriving.
Each country that serves as home to hundreds of outsourcing companies has a special subset of skills and expertise. Although they can probably take on a few tasks beyond their core strength, it would be more strategic to assign it to someone with in-depth knowledge and experience on the matter itself. According to the same survey, almost 80 per cent of businesses feel good about their outsourcing decisions and are expected to continually do so in the coming years.
Once dubbed as the Call Center Capital of the World, the Philippines has been considered as the number one source for outsourced agents in the world. So, if you’re contemplating whether to outsource your services to the Philippines or not, you should check out these 5 reasons why.
5 Reasons Why You Should Outsource to the Philippines
Every country has its own reasons why foreign companies decided to outsource their non-core tasks with them. While it could be because of the most obvious of reasons, the Philippines remains to be one of the most outsourced countries in the globe.
1. Filipinos are highly proficient in English
There is no doubt that the Filipino people are well-versed in the English language. Even the local vendors and drivers can keep a normal conversation going. Aside from that, the media also utilise the English language in news reports, newspaper articles, magazines, and more.
Students have also learned it in school as early as 2 years old. At the same time, their teachers speak a mix of English and the native language when communicating. Even in meetings, events, and formal written documents. Although not formally declared, English is considered as the second language in the Philippines.
According to the English Proficiency Index, the Philippines ranks 20th out of 100 countries that proficiently speak the language, and is 2nd in Asia.
2. Labour costs are cheaper
Outsourcing in the Philippines has one outstanding privilege that foreign businesses take advantage of, the low labour costs. They enjoy almost up to 70% less on their wage costs compared to what they might be spending if they opt to do nearshoring. Also, they have high regards to the Filipino quality of work and their ethics as professionals. So, instead of paying someone locally for the same skill, it is better for them to outsource that talent and pay less. It might be just a little amount for now, but when accumulated, could be more than enough to grow their businesses.
3. Almost 3 decades of outsourcing
As the saying goes, “experience is the best teacher”, the Philippines has a 3-decade history of outsourcing. Starting from 1992, when the first contact center was built in the country, slowly, the business practice flourished. Because of the surge, the outsourcing industry in the country hit the all-time high rank and was recognised as the top outsourcing destination in the world. Until then, the Philippine government came into the picture and supported the rise of the BPO sector. As it contributes a huge chunk to the country’s economy, they made sure to protect it by enforcing laws and policies that will attract more investors.
4. Strict data privacy law
“To protect the fundamental human right of privacy, of communication while ensuring free flow of information to promote innovation and growth” is the main objective of the Data Privacy Act of 2012. It is designed to protect the client’s data by maintaining confidentiality, integrity and availability of their data while ensuring a free flow of information. It was established to attract more foreign investors and businesses to move to the country.
5. Filipinos are hardworking and talented
The Philippines has a highly educated and diverse talent pool which was evident in almost 200,000 university graduates each year. This number equates to the country’s 97% literacy rate. And in every field of work, the Filipinos are popular because of their culture of hard work and perseverance to achieve excellence.
Outsourcing in the Philippines could be your best move this year to help grow your business. You just have to make sure to meet a great outsourcing partner that will walk with you through success. Find an outsourcing provider who has the same goals and aspirations as you. If you’re having a hard time finding one, check out DBOS and get to save up to 70% on your labour costs today! Contact us today and get a free consultation with our CEO/Founder.