Logix BPO – Philippine Outsourcing Trends, News, and Updates – July 2023
The outsourcing industry in the Philippines has been a vital contributor to the country’s economy. It has compelled businesses from around the world to seek cost-effective and high-quality services in the country.
As we delve into the key highlights of Philippine outsourcing for July 2023, we will explore the latest trends, news, and updates shaping the industry. Drawing insights from reputable sources. From the information gathered here, readers can gain valuable perspectives on the growth and evolution of various outsourcing sectors in the Philippines.
Business Process Outsourcing (BPO) Sector
The Asia-Pacific region has witnessed a remarkable surge in the Business Process Outsourcing (BPO) sector. While a lot of countries in the region benefited from this, the Philippines remains at the forefront as a top outsourcing destination.
According to Research and Markets, July 2023 saw continued growth in the Philippine BPO industry. This comes with several multinational companies expanding their operations and leveraging the country’s skilled workforce and language capabilities.
This report, which is titled Asia-Pacific Business Process Outsourcing (BPO) Market Report 2023-2033, shows just what the future has in store for this industry in the country. The BPO market in the Philippines has expanded beyond traditional call centre services, integrating other outsourcing offerings. This diversification has led to a broader spectrum of employment opportunities and a stronger talent pool.
Companies are increasingly outsourcing a wide range of back-office functions, like outsourced accounting, outsourced digital marketing, and recruitment process outsourcing (RPO). Also, part of this list is human resources outsourcing (HRO) and customer support.
Still one of the most sought-after outsourced services in the country is virtual assistance, with approximately one out of every 8 VAs being from the Philippines. This is due primarily to the high literacy rate of the country, which has helped make the archipelago the number one place to look for competent Virtual Assistants worldwide.
Logix BPO is one of the companies that offer this diversified list of outsourced jobs, making it one of the companies that are frequently tapped for highly skilled and qualified workers for a variety of BPO jobs.
Information Technology (IT) Outsourcing
The IT outsourcing market in the Philippines has witnessed significant growth in recent years, and it is projected to continue its upward trajectory. Digital Journal reports that the IT outsourcing market is expected to experience substantial growth in the upcoming years. This is driven by the country’s expertise in software development and tech support services.
As of July 2023, the Philippine IT outsourcing sector saw an increased demand for cutting-edge solutions, which include artificial intelligence, blockchain, and cybersecurity services. Global companies are turning to Philippine IT outsourcing providers for innovative and agile solutions. This helps solidify the country’s position as a competitive player in the global IT outsourcing landscape.
Knowledge Process Outsourcing (KPO) and Professional Services
Knowledge Process Outsourcing (KPO) and Professional Services have emerged as essential segments within the Philippine outsourcing industry. The news on the growth and diversification of the KPO sector in July 2023 comes with particular emphasis on finance, legal, and healthcare outsourcing services.
The Philippine KPO sector has evolved from providing transactional services to offering specialized, high-value solutions. Companies are leveraging the country’s educated workforce and domain expertise to meet the complex requirements of global clients. As businesses increasingly outsource knowledge-intensive functions, the Philippine KPO industry is expected to expand further in the coming years.
Outsourcing to the Philippine Provinces
While Metro Manila has traditionally been the primary hub for outsourcing operations in the Philippines, there has been a notable shift towards outsourcing to provincial areas. Several provinces are experiencing a surge in outsourcing activities, offering companies an attractive alternative to the capital city.
For example, the province of Dalaguete in Cebu has recently opened its first BPO centre, located in a three-story building and inaugurated by the province’s Governor, Gwen Garcia, as well as the mayor of Dalaguete, Ronald Cesante. This move shows that expanding towards provincial locations is the next move for BPOs in the country, with the hopes of providing more stable and well-paying jobs to locals.
These provincial areas entice businesses to put up shop within their borders, so to speak, with competitive incentives, improved infrastructure, and better connectivity. This trend promotes more equitable regional development while also addressing the challenges posed by congestion in urban centres. As the outsourcing landscape continues to evolve, provincial areas are becoming significant players in the industry.