August 26, 2011: Hurried growth in the Business Process Outsourcing industry is witnessed in Philippines. The faster growth and excellent service in the industry has even overtaken the Indian BPO voice service providers.
Since 2006, it was a rapidly growing phase for the BPO industry in Philippines. With a hike up to 46 % annually and outstanding service, today the country has become a perfect destination for offshore call centers. Philippines, which provide extraordinary corporate backroom operations in financial analysis and inventory control has recently out beaten India in Voice – based Business Process Outsourcing (BPO) services.
The recent happenings has shaken the Indian BPO industry for a while, but the trend may not retain for long as India still holds many advantages over the Philippines BPO Industry. When compared to India the Philippine population is much less, thus the availability of well skilled human resource is also less in the nation to meet the requirements. Joining BPO at a young age, grabbing some experience along with hand full of currency is the culture followed by young graduates in the country. Moreover the attrition rate is also far above the ground as carrier in BPO is of the least interest among youngsters in Philippines.
Indian BPO firms are well equipped to deliver high quality service. The voice processing units cannot be categorized entirely under the call center segment as they deal with end-to-end process. They do email, web and social media interaction along with handling the calls which is much more than what a pure call center provides. Besides, history of the Indian Business Process Outsourcing (BPO) firms in delivering business solutions and services in banking, human resource, inventory management and sales is also remarkable.
Global companies have to think twice before selecting the service of any service providers. Immense experience in providing world class quality service and business solution along with cost effectiveness by the Indian Business Process Outsourcing (BPO) industry is highly appreciable. India is still an elegant offshore market where immense scope for business is prevailing. It should not be forgotten that Indian BPO has the history of least affected sector even in the past recession.
In the long run companies may rethink the decision taken to set up units in Philippines. It could be expected that there will be pull out of companies from Philippines very shortly. Companies will always look for a market where they can survive in the long run. Investing in Country such as Philippines, where the culture is entirely different and the trend is always changing is yet risky.