BPO Archives - Offshore Staffing Services in the Philippines

Projected Growth of the Philippines BPO Industry in 2024

The Philippines’ Business Process Outsourcing (BPO) industry has been a cornerstone of the country’s economy, showing consistent growth over the years. As we look forward to 2024, the industry is poised for further expansion, underpinned by various factors contributing to its anticipated growth.

Current State of the BPO Industry in the Philippines

The current landscape of the BPO sector in the Philippines exhibits robust growth, with an annual revenue that surpassed USD $26 billion in 2023. Dominated by sectors like contact centres, healthcare outsourcing, IT services, and more, the industry employs millions, contributing significantly to the nation’s GDP.

Factors Fueling Anticipated Growth in 2024

Anticipated growth in 2024 is propelled by several factors. Global trends, including the increasing reliance on digitalization and automation, are shaping the BPO landscape. The Philippines’ government initiatives, such as tax incentives and improved infrastructure, foster an attractive environment for foreign investments.

Furthermore, the integration of emerging technologies like AI, robotic process automation (RPA), and analytics is revolutionizing BPO services, enhancing efficiency and offering new service capabilities.

Projected Growth and Key Projections

Industry analysts forecast continued growth in 2024, with revenue projected to exceed USD $30 billion. Employment opportunities are expected to rise, adding hundreds of thousands of new jobs across various sectors within the BPO industry. Expansion into non-voice and high-value services, such as finance and accounting, is also foreseen.

Source: Manila Standard

Challenges and Opportunities

Despite the promising outlook, increasing labour costs and global competition may pose hurdles. However, these challenges also present opportunities for innovation and upskilling the workforce. Embracing advanced technologies and diversifying service offerings can position the industry for sustained growth.

Conclusion:

The Philippines BPO industry’s projected growth in 2024 signifies its resilience and potential for further advancement. This growth contributes significantly to the national economy and opens doors for skill development and technological innovation. As the industry evolves, stakeholders must adapt, innovate, and collaborate to harness its full potential.

How to Choose the perfect bPO company in the Philippines

BPO Industry / By DBOS

For Australian businesses, one of the best ways to scale is by outsourcing certain processes and tasks to a BPO company in the Philippines. However, with so many companies to choose from, it can be difficult to find the right one for your business. In this article, we will guide you in choosing the perfect BPO company in the Philippines that can help take your business to the next level!

The Philippines is home to some world’s best BPO companies for hiring remote staff. And as the country recovers from months of lockdowns, the projections for the BPO industry remain positive. The IT-BPM, the country’s association of BPO companies, expects an upbeat outlook of 2.7% – 5% growth in the industry’s talent pool. This means Australian companies can definitely expect to find highly-skilled workers who can provide quality services at a fraction of the cost within the 1.4 million-strong Philippine BPO workforce.

With such a huge industry, it can be difficult to find the companies with the best talent and services. So, to help you out, we’ve compiled a list of the factors you need to consider when hiring a BPO firm in the Philippines.

Some BPO companies have specialities and may be good in certain processes but not in others.

You want to ensure that the company you’re hiring has experience in your industry and can provide the services you need. For example, if you’re in the eCommerce industry, you’ll want to hire a company with experience with order fulfilment, customer service, and social media marketing. Some BPO companies have grown to become highly specialised and efficient at certain processes, so choose one that’s the best fit for your specific requirements.

The company’s size, location, and culture can have a huge impact on its performance.

The company’s size can also be a factor, as you’ll want to ensure they have the resources to meet your needs. Additionally, you should consider the company’s culture to see if it’s a good fit for your business. For example, if you’re a startup, you may want to hire a company that is young and dynamic, while a more established business may prefer a more mature and professional company. The company’s location is also something you should look at. If you’re looking for a company that can provide reliable service, one that’s located in Manila, Cebu, and other business hubs in the Philippines is a good option.

Cybersecurity infrastructure matters especially if you’re going to give them access to critical company information.

In today’s digital age, cybersecurity is more important than ever. Check the company’s cybersecurity infrastructure to ensure that your data will be safe and secure. Luckily, the Philippine government is highly supportive of the BPO industry and has put in place measures to ensure that all data is protected. The Data Privacy Act of 2012 requires all BPO companies to have comprehensive security measures in place, so you can be sure that your data will be safe.

Success in similar projects may indicate future performance.

While young start-ups with little experience may have some advantages, Australian businesses should focus on working with BPO companies with a proven track record of success. This will ensure that the company can handle your project and deliver the desired results.

A sound business plan and efficient systems can turn your business into a well-oiled machine

Australian businesses should also ensure that the BPO company has a sound business plan and well-defined processes. This will ensure that the company is organised and efficient and can deliver the results you need on time. Having a solid business plan and systems also ensure you’ll have contingency plans in place in case of emergencies.

These are just some of the factors Australian businesses need to consider when choosing a BPO company in the Philippines. With so many options available, it’s important to do your research and choose a company that’s the best fit for your business. We hope this guide has been helpful, and we wish you all the best in finding the perfect BPO partner for your Australian business.

Outsourcing to the Philippines: Managing the Timezone Differences

Outsourcing in the Philippines / By DBOS

Majority of Philippine outsourcing companies offer to work almost the same office hours as their clients. They will work according to your timezone, whatever it may be. This is one of the many attractive propositions to clients located in Australia and New Zealand.

A normal and comfortable work shift in the Philippines would-be 7:00 AM to 4:00 PM. Without the dreaded Metro Manila traffic and with ample preparation, Filipino staff could comfortably come in as early as 6:00 AM and stay late until 5:00 PM. Sometimes, to avoid the rush hour, some employees choose to stay even a lot later.

More and more Australian and New Zealand businesses choose to outsource to the Philippines, instead of other known outsourcing destinations.

The timezone gap between the Philippines and these countries are minimal which allows a more real-time communication and interaction between the onshore manager and their Filipino staff. This is extremely important in building a good working relationship, better collaboration and making your Filipino staff feel like they are part of the team.

Filipinos are also very family-oriented so working a day-shift allows them not only to live a healthier life but also spend more time with their families and friends.

But this doesn’t mean that companies in Europe and North America are in the disadvantage. Many of the BPO companies now have higher flexibility in providing services in different timezones.

Here’s a quick overview of the time differences between the Philippines and some of the key cities in AU and NZ:

In Australia, New South Wales, Victoria, South Australia, Tasmania, and the Australian Capital Territory observe Daylight Saving Time (DST). Whilst Queensland, the Northern Territory and Western Australia do not observe DST.

Daylight Saving Time starts when the local standard time is about to reach Sunday, 4 October, 02:00:00. The clocks are turned forward 1 hour to Sunday, 4 October, 03:00:00 local daylight time instead. It ends when the local daylight time is about to reach Sunday, 5 April, 03:00:00. The clocks are turned backward 1 hour to Sunday, 5 April, 02:00:00 local standard time instead.

During DST, the clocks on the Chatham Islands are also turned forward 1 hour from UTC+12:45 to UTC+13:45. It starts on the last Sunday of September and ends the first Sunday of April, the same as mainland New Zealand.

Here at DBOS, not only that we personalise and make offshore staffing an affordable option for startups and expanding businesses, but we also make collaboration and communication with our Australian and New Zealand partners very simple.

Our remote management system provides our clients with full control and visibility to their Philippine-based operations using their chosen tool and system. This addresses the pain points when working on a different timezone and with a geographically separated team.

As labour costs in Australia and New Zealand continue to rise, startups and expanding companies find the low wages and minimal timezone gap in the Philippines attractive and practical. In fact, the Philippines has overtaken India as the leading call centre country. This subsector added around 10% in the country’s economy in 2015. The expansion of the BPO industry to other provincial regions such as Cebu and Davao was also a key factor for the country’s continuous growth. You can learn more about the best outsourcing locations in the Philippines on one of our previous blogs.

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