Small businesses, medium-sized companies, and large enterprises continue to benefit from outsourcing. It allows organizations to focus on their core business functions while saving on costs and expenses related to fringe business functions such as back-office operations, customer service, or data processing services.
Outsourcing companies in the Philippines continue to improve their processes and services to ensure that businesses will maximize profit and revenue from this business strategy. As such, the country has maintained its position as one of the best outsourcing destinations in the world.
In fact, Business Process Outsourcing (BPO) remains one of the top drivers of economic growth in the country. The sector is projected to grow by 9% every year, and by 2018, it will outpace revenues from OFW remittances.
According to the roadmap of the IT-Business Processing Association of the Philippines (IT-BPAP), the total revenue of the BPO sector will reach $40 billion in 2022. It’s also forecasted to generate 7.6 million jobs and take up 15% of the global BPO industry. Check out this infographic below, compliments of Booth & Partners, to learn more about outsourcing and globalization within the Philippines.
