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Jenny Cagadas, Hubport Group
Friday, November 13, 2009
We know how well business process outsourcing has helped foreign ailing economies cope up. But what we fail to recognize is how well it has improved our own financial and employment situation. The years 2005 and up had the country basking in the glory of substantial amounts of profits – all thanks to BPO. Because of this industry, millions were added to the Philippine’s annual revenue. And because of the immediate need for cheap and functional manpower, more than three hundred thousand people were supplied with jobs. As a result, the unemployed rate of the country dropped within the previous years.
Since the discovery of this business option, many overseas companies have triumphantly managed the downhill spiral of commerce. And while our sights are set on their progress, we cannot help but acknowledge how well all of this is working for the country. Through business process outsourcing, we are not only able to manage the financial system of other countries, but also successfully handle our current economic condition.
BPO was born out of economic drought. That’s why it is surprising to find it playing the role of a financial reservoir for several third world countries, and even power players like Europe, the United States and Australia. On the wake of an economic imbalance, business process outsourcing has energized corporations and relieved them of their operative burdens.
BPO was born out of economic drought. That’s why it is surprising to find it playing the role of a financial reservoir for several third world countries, and even power players like Europe, the United States and Australia. On the wake of an economic imbalance, business process outsourcing has energized corporations and relieved them of their operative burdens.
BPO made companies capable of maintaining their participation in the global trade despite the lack of funds. Volatile economies became more stable and enduring amidst a highly unpredictable and competitive commercial environment. It is clear to see how business process outsourcing solution providers give foreign businesses the ability to stretch their capacities as well as their budget, all in the pursuit of survival.
The Philippines was fortunate to have been trusted with the task of assisting and participating in the business processes of foreign conglomerates. Because of their proficiency in various studies, it became easy for them to respond to specific outsourcing needs. As such, the country was able to lend a hand at resolving the global economic crash, and at the same time, benefit from the presented opportunity. The Philippines now hosts numerous outsourcing facilities in different parts of the country; fostering and making use of its native and growing talent pool, especially in the field of information technology.
Information technology actually comes in second to voice-related outsourcing in the list of commonly commissioned BPO services from the country. Inclusive in this area are software development, animation and ecommerce website development, to name a few.
What lend the Filipino professionals their edge in this particular study is that they are educational background. The country is pretty observant of recent developments in the disciple and is keen on enriching its constituents. Aside from this, most IT professionals undergo continuous enrichment and trainings so that they can fully deliver satisfactory outputs to clients. There is no stagnation with regards to learning. So investors can be assured that the most effective and updated means are applied for their business processes.
The Filipino personnel exactly reflect the kind of economy it tries to keep – strong, resilient, accommodating and capable of further development. And as they say, the product is only a reflection of the maker. Hence, it is easy to see why investors have great confidence in Philippine business process outsourcing industry. They not only ably complement the need for useful, productive and effective business process assistance; they also do their best to save troubled businesses.
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