COMPANIES of all sizes and industries are increasingly turning to business process outsourcing (BPO) to gain a competitive advantage, reposition their brand, or reimagine how they do business. For those businesses, outsourcing to the Philippines has become a particularly beneficial option.
“There’s a strong reason for that. For the past twenty years, the Philippines has established itself as a world leader in business process outsourcing. The country currently ranks just behind India as the world’s second BPO destination and is the global leader in contact center outsourcing. Today, the Philippines holds a 10 to 15 percent market share in the global BPO industry. Two decades of proven outsourcing success obviously speaks for itself,” says Ralf Ellspermann, chief executive officer of Piton-Global, a leading mid-sized outsourcing provider in the Philippines.
Outsourcing business processes to the Philippines offers a hefty ROI
Companies that partner with industry-leading BPO companies in the Philippines consistently see impressive returns on their investment. Outsourcing can cut 60% off labor costs and up to 40 to 50 percent off operating costs, improve efficiency and productivity, and fast-track a company’s ability to scale and grow. Companies also gain access to a skilled and highly educated workforce with a strong proficiency in speaking fluent English in a country whose government actively supports its lucrative outsourcing industry.
But one of outsourcing’s biggest advantages is it allows companies to focus on and improve core competencies. While teams of experienced BPOs expertly handle non-core tasks, in-house teams can concentrate on growing their business. Broadening their capabilities can give companies the competitive advantage they need to succeed in today’s ultra-competitive marketplace.
This is a deeper look at some of the ways outsourcing can help businesses gain a competitive advantage.
Focus on core competencies
Outsourcing mundane tasks gives management and employees more time to focus on value-added projects and cultivating business growth. This ability to leverage time contributes to higher productivity and organizational strength by allowing core teams to focus on what they do best. Plus, money saved from BPO can be funneled into important business-growth aspects such as marketing and advertising, advanced technology, product research and development, and developing omnichannel customer service strategies.
Get products or services to market faster
One of the top reasons organizations outsource to the Philippines is because work will get done quicker. Due to the time difference between the U.S. and the Philippines, work can be done on a 24-hour basis, meaning projects can be completed in weeks and not months. Speeding up projects can help get products or services to market faster, giving outsourcing companies a significant competitive edge. Plus, since project-specific teams can be quickly built, priorities can get started and completed that much faster.
Expanded market reach
Outsourcing to the Philippines can help companies reach broader audiences by offering access to top marketing professionals who can give deep insights into foreign markets. For instance, a U.S. company might know the American market, but how well do they know the overseas marketplace? By outsourcing to a central international business hub like the Philippines, companies can gain a new understanding of what overseas customers want and need. This deeper insight into foreign markets can be especially advantageous for e-commerce brands operating in a super-competitive global marketplace.
World-class customer service
By outsourcing to the Philippines, companies can tap into a customer service outsourcing industry that is a world leader. “Filipinos are known for their warmth, hospitality, strong work ethics, and an innate sense of empathy and loyalty. Additionally, Filipino’s affinity for speaking fluent English makes them ideal customer support representatives,” says Ellspermann. These traits can give a company a reputation for being reliable and approachable. Satisfied customers will likely recommend a company to their family and friends, leading to effective word-of-mouth marketing, a higher bottom line, and a better competitive edge.
Outsourcing to the Philippines makes good business sense
The advantages of outsourcing to the Philippines far outweigh the costs of investing in it. Relying on the right Philippine outsourcing team to take care of all the little things allows companies to focus on the core competencies that really matter. Outsourcing can also be a cost-effective way for struggling startups and SMEs to get their businesses back on track.
“In short, in a global marketplace where competition has become fierce and unforgiving, outsourcing to the Philippines is the smartest way businesses can stand out from a crowded field of competitors,” concludes Ellspermann. (SPONSORED CONTENT)