by: IGlobal Content Creation Team
When do we need to outsource jobs instead of hiring a local employee? There are no hard and fast rule to help you decide whether to outsource tasks or not. As a business owner, you want the absolute best for your business.
So, what is outsourcing? Outsourcing is a business strategy by which company contracts third parties to handle tasks normally assigned to in-house employees. This is also known as “contracting out”
Today, the Philippines is one of the top BPO service provider in the world and over the past years, the BPO industry in the Philippines continues to grow. It showed a rapid increase of investors from many different countries. This year is an auspicious year for the BPO industry in the Philippines. Call Centers in the Philippines are set to experience continued and “unstoppable” growth. Despite several political and social challenges, the Philippines posted a growth rate of 6.9% for the 3rd quarter of 2017, just a fraction of a point from year end targets. And judging by the numbers, the business process is now one of the most profitable, fastest growing industry not only in the country but globally.
The top 4 globally accepted locations are India, Philippines, Malaysia, and Indonesia. Currently, Philippines is the preferred destination for its low costs and quality services. It is also gaining ground in high-value services like virtual staffing, accounting, engineering, and legal BPO.
Many businesses are encouraged to outsource to the Philippines due to various reasons. Generally, the Philippines offers more efficient advantages compared to other outsourcing countries such as India, Malaysia, China and Indonesia.
Here are the 3 main reasons outsourcing to the Philippines can help your company grow:
Outsourcing saves money on labor, operational costs and capital expenditures which can deliver significant savings and an increase in profit. Labor costs in the Philippines and India are cheaper. By comparison, the average wage rates in the US, UK, Canada and Australia range from US$14 to US$20 per hour. While the call centers in the Philippines have an average wage, rate ranging from US$2 to US$3 per hour.
To put it simply; people outsource to lower costs and improve the bottom line. That being said, clients can save up to 50-60% in their cost. This could either help you invest in a new venture or provide you stability.
With the new innovation, many businesses have become more competitive. It helped them grow and create high-skill jobs. In the rise of modern technology, some businesses do not have the capability to enhance their current equipment and hiring a new set of specified skilled workers would cost more. Hence, hiring an outsourcing provider is a great alternative. Most of the outsourcing sectors are leveraging on advanced technology to empower business.
Customer satisfaction is providing the excellent service. Every leading company recognized the value of customer satisfaction to gain a competitive advantage in their respective industry. It is truly the yardstick that tells of a firm’s success. In seasons where there is a high demand for deliveries or calls, getting a BPO company can help you accommodate all the queries. Dealing them with more efficiency and problems are solved with better procedures. The customers you deal with will get a better experience and are more likely to continue the relationship with your organization.
It is a tough challenge to manage the cost while increasing or maintaining the quality of a business. And the Philippines is the third largest English speaking country, the level of expertise produces smooth working communication and good numbers of experienced workers that manage end-to-end projects. The Philippines has become a hot market in outsourcing. The country is now the best or may be the most preferred outsourcing destination that any company from other countries to choose. The benefits of outsourcing integral and related tasks can only add more value to a growing company. While it may seem tempting to keep operations and even costs in-house, companies who use outsourcing has provided better services. So, start looking into the right outsourcing company today, such as iGlobal Business Solutions Inc. and that small business will soon be growing bigger than expected. Contact us today!