These days are troubling times for business, particularly in India.
India Inc.’s credibility and reputation as a premier business service destination reeks and reels due to numerous cases of frauds and scams. Many of their clients draw back because of this.
The global business environment pressures for enterprises to seek low-cost, high quality measures to perform business actions and transactions but when the world’s top BPO and IT outsourcing center suffers from internal conflicts to whom should they turn to?
And here to answer such a call is the Silver Knight, the Philippines.
The Philippines has carved itself a niche in the international services delivery of business process outsourcing, particularly in the field of voice-contact services.
“Success in voice-based BPO services has positioned the Philippines as the second largest low-cost BPO destination after India, and both countries combined account for 50 percent of the BPO market in revenue terms.
While some providers are leveraging the Philippines for non-voice functions, the scale of work is relatively low. However, tremendous market potential exists if service providers can successfully manage talent-related constraints.”
Nikhil Rajpal, Principal, Everest Research Institute
The Philipines provide quality voice contact or call center services especially for companies in the US and Europe due to its population’s cultural compatibility, proficiency in Languages, neutral accents, and more importantly a natural tendency to be hospitable that is a world-renowned trait of Filipinos.
However, little is known or reported for the Philippines’ non-voice services potential.
This is why the Everest Research Institute focuses into this in its first research report for 2009. They report on their insights on the Philippines’ BPO market, its current activities of the game players in finance and accounting, medical transcription, research, analytics and legal services.
“Managing talent-related constraints, especially the availability of specialized and managerial skills, will determine operational success in the Philippines.
We expect strong growth to continue in the non-voice services sector, especially in the transactional services space.”
- Jimit Arora, Research Director, Everest Institute
Presently, the market is low that it is virtually undeveloped and untapped. If you ask me, this is Opportunity-fertile ground! The Holy Grail calling!
- “India’s Outsourcing Sector faces bleak outlook: Analysts.” 25 January 2009. Economic Times of India. Accessed 26 January 2009. Link here
- “Everest: Philippines Poised to Emerge as Non-Voice BPO Provider.” 22 January 2009. PR-inside.com. Accessed 25 January 2009. Link here
- Ahluwalia, Arshmeet; Arora, Jimit & Rajpal, Nikhil. “The Silent Knight – The Philippines Emerging Non-Voice BPO Capability.” January 2009. Everest Research Institute. Accessed 26 January 2009. Link here
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