Why Philippines has an advantage in BPO industry?

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Why Philippines has an advantage in BPO industry?

Better Benefits The BPO industry in the Philippines has many great benefits that include paid holidays and vacations, life insurance, paid sick leave, free beverages, flexible schedule and dress code, the option to telecommute which many employees desire, professional training, and much more.

Why Philippines is best for outsourcing?

Companies across the globe and across industries cite cost savings as the main factor that makes the Philippines an ideal outsourcing destination. In addition to its competitive labor cost, the country’s office rental rate is less expensive than anywhere else in the Asia-Pacific region.

What is the role of Philippines in the BPO aspect?

The BPO industry is regarded as a priority by the Philippines Development Plan as essential to the country’s ten high priority development areas. To further entice investors, existing government programs include incentives such as tax holidays, tax exemptions, and simplified export and import procedures.

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What is considered as an advantage of Filipino over Indians in terms of working in the contact center industry?

Perhaps the biggest advantage that Filipino call center agents have over their Indian counterparts is their ability to speak English with no discernible accent.

Why Philippines has been one of the top choices by international companies as an outsourcing destination for business processes?

Quality, Yet Cost-Effective The Philippines offers a balanced package of excellent customer service which operates with a highly effective and functional team with great cost savings. This remains to be the best reason why global companies choose the Philippines for outsourcing services.

Why Philippines is the call center capital?

In 2013, the industry recorded 900,000 full-time Filipino employees which helped lessen the country’s unemployment rate. For the next few years, the Philippines continually gained a huge percentage of the global BPO market. As a result of this, the country was then declared as the world’s BPO capital.

How did BPO started in the Philippines?

FACT: The BPO industry in the Philippines actually started in 1992 and not in 2000. An international Global Resource Center in 1992 has instigated the beginning of the local BPO industry in the country. Three years later, Congress passed the Special Economic Zone Act.

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Why the Philippines is becoming hub for BPO in the world?

With a 95\% higher education literacy rate, the Philippines is producing over 450,000 graduates annually. With such a diverse knowledge-based workforce, Filipinos are qualified to work on different BPO services, which can be seen as a huge advantage for investors.

What is the best BPO in the Philippines?

Best BPO Companies in the Philippines: The Top 10 Outsourcing Agencies in the Country

  • Teleperformance.
  • Convergys.
  • Sykes.
  • 24/7 Customer Philippines Inc.
  • STAFFVIRTUAL.
  • Sutherland.
  • Sitel.
  • VXI Global Solutions. VXI Global Solutions was established in 1998 in Los Angeles.

Why India and Philippines are the main outsourcing destination?

Why are Companies Choosing the Philippines Over India for Outsourcing Services? Asia has been the prime destination for outsourced jobs over the last couple of years. This has happened because, in Asia, US-based companies can get the services they need at a much more cost-effective rate.

What is the future of the BPO industry in the Philippines?

According to the 2019 report, the sector recorded a 7.3\% contribution to the growth in GDP. In the future, the BPO sector is expected to be more than a billion-dollar industry. It is foreseen that as the BPO industry expands, the Philippine economy will also prosper.

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How big is the BPO industry in India?

Let us take a look at the BPO industry in India. Just like the Philippines, India is also growing at a fast pace. In 2005, it had a growth rate of 38 percent which is a good figure. In 2013, it has been reported that the BPO industry has gathered revenue to a total of $447 million. And that just grew to $651 million, according to Statista.

What is the difference between India and Philippines in BPO?

Another important thing to look into when it comes to the whole India versus Philippines deal is the culture. India has a rich culture and the people are proud of it. However, the uniqueness of its culture becomes a barrier when it comes to being competitive in the BPO field.

What are the job opportunities in the BPO industry?

The BPO industry in 2018 contributed to a 14\% increase of job opening according to the report by Jobstreet. Most of the job positions that are in high demand in the business process outsourcing industry are those that are related to information technology, accounting and finance, customer service, telemarketing, and many more.