BPO Company

BPO industry is one of the fastest growing industries in the world. International investment consultancy company McKinsey & Co. anticipates that the demand for BPO services will reach $180 billion in 2010, with the customer contact services, finance and accounting, and human resource sub-sectors taking up the biggest shares. When it comes to the trend in primary business requirements, experts are seeing a shift from cost-effectiveness to skills quality and competence. This development all the more strengthens the Philippines' position as an emerging global leader in the BPO industry.

BPO In The Philippines

The BPO boom in the Philippines is currently led by demand for offshore call centers. The Philippines raked in offshore service generating revenues of $2.1 billion in 2006, placing third behind India and China and slightly ahead of Malaysia. That's up 62% over the $1.3 billion it gained in 2004, and a huge increase from the start of the decade when the BPO companies in Manila employed just 2,400 people and the industry had revenues of merely $24 million. It is estimated that 200,000 people are working in 120 BPO companies(mostly Contact Centers) in the Philippines in 2006. Overall, Philippine BPO is forecast to earn US$11 billion and employing 900,000 people by the year 2010.

The recent growth in the BPO industry in the Philippines has been fueled not by traditional low-value-added call center companies but more higher-end BPO companies such as legal services, web design, medical transcription, software development, animation, and shared services. Though call centers still form the largest part of the sector, the Philippines has begun leveraging its creative design talent pool, its large pool of lawyers, and its professionals in accounting and finance.

Nowadays, more and more companies are announcing BPO outsourcing projects in the Philippines. As per estimates, Philippines is set to become the most popular destination for BPO operations. A large number of multinational companies are outsourcing their business processes offshore to Philippine BPO companies. BPO has got impetus with the technological breakthrough with Internet for communication across the globe which has been the largest advantage for the success of the BPO business.

More importantly, Philippines has a pool of qualified and professional talents. And it is this acute relevance of the “people factor” that highlights the clear, current and future leadership role of the Philippines in the global BPO sector, especially as the BPO sector grows and moves toward more complex outsourcing.