by: IGlobal Content Creation Team
The Philippine BPO industry has been a strong economic contributor to the growth of the Philippines GDP for a while now. Though it wasn’t a smooth ride, the industry still showed resilience and immense success. With so much success and growth, one can’t help but wonder where this massive industry is heading.
Philippine BPO companies are often known for providing voice support service in the outsourcing market. Today, the industry also provides a wide range of voice and non-voice roles into different industries. Just a few years back, foreign startups hire graphic designers, human resource professionals, nurses and other job titles outside their respective countries. Today, entire digital marketing, HR, IT, and accounting teams are outsourced to Philippine BPOs. More businesses will look into offshoring and outsourcing to address their growing needs. Aside from the premier business centers in the Metropolis, construction of BPO hubs in provinces already started since 2016. And with the help of the Rural Impact Sourcing, a program which aims to expand the BPO to rural areas displays positive results as well. The Philippine GDP is expecting to generate up to $40 billion in revenues. It will also develop more than jobs 500,000 jobs outside of Metro Manila. One of these BPO hubs is iGlobal located in the rural town of Minalin, Pampanga. It’s poised to provide jobs to local talents.
Despite the political turmoil in the U.S., BPO services will still remain among the top exports of the Philippines to the US and other English-speaking countries worldwide. There was an initial uncertainty on how President Trump's rhetoric on “Buy American, hire American” will affect the Philippine BPO industry during his presidency. But in a meeting in Colorado last March 2017, where Director General Charito Plaza of Philippine Economic Zone Authority (P.E.Z.A.) met with the investors and stakeholders, assured the country’s BPO industry that there is “nothing to worry anymore”. And because of this, the BPO Industry in the Philippines will continue to prosper for a long time.
The BPO industry remained steadfast and experienced growth in the last few months. And as a major part of the Philippine economy, the BPO industry is still experiencing continued and unstoppable growth. Despite several political and social challenges, the Philippines is still on track to a 6.5-7.5 percent growth by the end of 2017.
Call center services in the Philippines are well known for amazing voice services. Non-voice customer care, as well as remote administrative services, are now offered today. It seems that outsourced shared services are still high in demand. Despite President Trump’s pronouncements. This is an indication that the BPO industry is still relevant and essential and won’t be going anywhere anytime soon.
The Philippine BPO industry is seen to recover by early 2018 despite the series of threats to the peace and order situation and the imminent reform in the tax system. Affirming investors that the Philippine government can address these risks and uncertainties is important. The information and communications technology industry filed a petition to the Philippine government to keep the financial incentives enjoyed by the sector in the last 15 years. The recently concluded ASEAN Summit recently held in the Philippines opened new opportunities for the BPO industry in the region. The Philippines is seen as the regions central outsourcing hub. 80-85% of 650,000 square meters leasable space is still taken up by BPO firms. Local talents already speak fluent English but lack other language skills like Nihonggo and Mandarin. The BPO industry is now working with the Philippines’ Commission on Higher Learning to determine what regional language the country can focus on. This will pave the way to generate more jobs and investments in the countryside. At the end of the day, these challenges will help the industry find ways in overcoming the issues and stay ahead of the game.
In 2018, its predicted that the BPO industry will find a balance between human and robotic resources to give the world the services it needs. Automation, or artificial intelligence (AI), is being used more and more in the BPO industry. This integration will help companies to better perform repetitive and menial tasks without elevating human stress. This means that BPO professionals can refocus their attention on the bigger and more important tasks. AI testing is still in the early stages and the majority of call center services still relies on human agents.
Despite this innovation, AI will not replace humans who can empathize, sympathize, read subtle signals, and critical problem-solving. This can be best provided by some well-trained personnel. With the new era that we are entering, machines and man will work in harmony to deliver the better customer service experience.
2017 is an interesting year for the Philippine BPO companies. There are both excitement and wariness over what the perceived trends would bring. Despite these concerns, the BPO Industry has responded to all the challenges and has come out stronger than ever. Some of the emerging trends will continue next year. These trends are early indicators of what the BPO Industry can expect in the coming year. The BPO Industry honors itself for being in the front line of new business trends.
The Philippine BPO companies will continue to prosper for the next five years. It will maintain its growth and will start to adapt to new trends. It will continue to be a reliable business strategy for most businesses. And in this coming year in outsourcing, it will guarantee to show more growth and expansion. The country will remain to be the best place for investors to outsource their services. That is because of its quality of workers that people can find in the country. Today, more and more cities in the Philippines are even developed to become BPO hubs. This will allow more jobs and opportunities for both BPO companies and the Filipino people for 2018. With its multi-talented workforce and low-cost; these strengths are roaring the Philippines as a top contender in the global BPO industry. Despite the changing trends, partnering with the right provider will take you on in adapting any challenges that come your way.