The Dividends of Outsourcing to the Philippines

– The Philippines has the most vibrant IT-BPO industry in the world, led by the emerged outsourcing destinations in the country, Manila NCR, is one of the top three outsourcing destinations in the world.

– BPOs are expected to comprise 80-90 % of total office supply for 2013. The estimate is based on the BPO sector’s objectives of hitting $26 billion in revenues by 2016 and expanding its workforce from 1.2 million to 1.4 million by the same year.

 Key Outsourcing Trends
• 399 major buy-side enterprises have spoken about their 2013 outsourcing plans, and barely a twentieth of them are looking to reduce their outsourcing scope across any IT or business function in 2013.
• Moreover, half of them are looking to increase their outsourcing of application services, four out-of-ten their finance and accounting, and a third their HR. In addition, there is a notable pick up in newer sourcing areas, such as analytics and legal.
• “Enterprise BPO” engagements have barely been around for a decade, the results are quite encouraging – 90% of buyers are meeting their transactional goals, and a good proportion are already getting some value from key areas such as accessing talent and improving analytical capability.
• In fact, barely one-in-seven can claim to be actually dissatisfied with their meeting these goals to-date.