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BPO: A Shot in the arm of the Philippine economy

By Aron Duhaylungsod, The Hubport Group
Wednesday, November 18, 2009
 
In the face of the current economic situation the whole world is in, more and more companies are tapping BPO companies to cut their costs and at the same time maintain the quality of their product and services. Companies that tap BPO companies are US, UK and Australia. The BPO Company tapped by the client company which is also based on the same country is called as an onshore BPO, while offshore BPO is not based on the same country as the client company.

It is the BPO Company’s job to manage some of the non-core activities and to meet planned objectives, simultaneously cutting down costs and increasing efficiency of the client company. As a result a boom of BPO companies followed, from Western countries all the way to Asian countries.

Asian BPO companies have a huge advantage over their western counterparts both in terms of cost savings and manpower resources. For the wages in Asia is comparatively lower compared to the West, plus the number of people in Asia that are competent in using the English language is vast and is constantly increasing.

With 24/7 operations with Asian BPO service providers, they are able to complete tasks in real time and with assured quality. It is also able to seamlessly integrate its workflow with that of the client company even if it is based halfway across the globe from its client company.

As a result, a definite boost in the economy of Asian countries that have BPO companies is now experienced. For BPO companies cover a wide array of services that include: ecommerce website development, transcription services, web hosting and multimedia development among many others; there is a great chance of growth and success.

Business process outsourcing companies’ impact on the Philippines economy and on its working population has been immense. Here in our country, there are many college graduates who are unemployed because job opportunities pale in comparison to the number of fresh graduates that are qualified to take the jobs.

A good example of this is the high number of nursing graduates, where only a minority of them will get the chance of working as nurses. There are too many of them compared with the few job opportunities as nurses. With BPO companies seeking new hires, a job opportunity has been opened to these unemployed professionals. Business process outsourcing services such as medical transcription needs these unemployed professionals due to their familiarity of medical terms and jargons.

With the knowledge that even at an early age Filipinos are competent in speaking and writing the English language, Business process outsourcing companies accept applications from undergrads. This gives students a chance to earn money and be self-supporting of their studies. This also helps those who were not able to finish their studies redeem themselves by earning a decent wage.

Even if many pass applications, only a few are fortunate enough to land a job. For the training process is hard, strict and extensive in screening possible employees to maintain a high standard of quality in business process outsourcing service.

Though there is the fear of alienation in the work place due to factors that limit their physical interaction with co-workers, Philippine BPO companies provide a friendly atmosphere to its workers. Since most that work in these companies belong to the same age group, there is a higher chance that they share common interests and likes. Some BPO companies even have fellowships and conventions to foster a stronger bond between and among its employees.

With excellence as its top virtue, the Philippine BPO industry is providing the world with only the best, competent, and cost-saving services that are incomparable to the rest of Asia! All these and more allow the Philippines to hold its ground as one of the more prominent and established outsourcing hubs in the world.

 



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