As competition continues to grow in a global marketplace, European companies have recognized the value of outsourcing business processes to the Philippines.
There are many reasons for this: A highly skilled, multilingual workforce, technology and infrastructure in place to support EU companies’ business goals, significant savings on labor costs, and many types of business processes available to be outsourced including IT, customer experience, sales, marketing, and accounting to name a few.
The Business Process Outsourcing (BPO) industry in the Philippines is well established and continues to grow at an impressive rate, with revenues of over US$26 billion in 2019, and expected to reach US$29 billion by 2022. BPO companies in the Philippines have a solid track record of providing a large variety of services to support EU firms’ business goals and have built strong relationships with EU companies.
Information Technology
One of the primary areas European companies tend to look offshore for staffing needs is in IT. This focus on technology is due in large part to the fact that Europe lacks a young workforce, especially compared to the Philippines’ 1.2 million agents employed in the outsourcing industry. It’s understood by universities, students, and the entire BPO industry that IT-related skills are in high demand and over 2,000 universities in the Philippines churn out highly skilled professionals every year, most of whom look to go directly into the outsourcing industry.
Cost Containment
Cost is likely the most attractive feature to EU companies in looking for offshore outsourcing. Many business processes can be handled by premium outsourcing companies in the Philippines for 50% less than it would cost to hire the same talent onshore. In addition to significant savings on labor, working with an outsourcing partner also eliminates the often-considerable expense of implementing and maintaining premium technology platforms, as this is part of the benefit of partnering with an offshore outsourcing vendor.
Sales, Marketing, and Lead Generation
In addition, many industry-leading outsourcing providers work with EU businesses in providing support for their sales and marketing goals. These firms offer features such as full lifecycle management of the B2B and B2C selling process, advanced CRM programs for lead generation, and retention programs to grow relationships with existing customers. BPO providers in the Philippines also help drive revenue for European companies through cost-efficient marketing support, providing many functions such as branding and design, digital marketing, and market research.
Skilled Workforce
The outsourcing industry in the Philippines is filled with talented professionals with college degrees, years of experience, and who are well-versed in Western business practices. These companies provide multilingual customer support, technical support, sales/marketing, financial processing, and many other business processing services. Industry-leading outsourcing providers, such as PITON-Global in the Philippines, build their talent pool around these skilled professionals and invest heavily in recruiting the most qualified candidates. These firms are also focused on developing their employees, understanding that it is important to maintain a deep talent pipeline, by working with universities across the country to create curricula that produce professionals who are industry-ready upon graduation.
Infrastructure and Technology
Premium BPO companies in the Philippines consistently reinvest capital into improved infrastructure and the implementation of new technology. They are acutely aware of what EU companies need in terms of infrastructure and technological requirements, and increasingly offer services such as Artificial Intelligence (AI), Machine Learning, Blockchain, and Cyber Security to name a few.
Even amidst a worldwide pandemic that resulted in a global economic downturn, the BPO industry in the Philippines experienced growth and has proven one very important fact: when it comes to doing business, the success of a company depends on how good and cost-effective their processes are. Industry-leading outsourcing providers in the Philippines can provide a variety of business services to European companies of any size that will help increase their efficiency and bottom line.
