When a business wants to improve efficiency, cut costs, and focus on strengthening its bottom line, offshoring is an incredibly attractive and beneficial option. However, all countries are not equally suitable.
Although cost savings is one of the most important factors, there is a lot more to successful offshoring than that. A business should consider various things, such as economic climate, work ethics, government support, culture, qualification levels of the talent pool, and more. The Philippines is one country that ticks more boxes than most other offshoring locations.
The nation has come a long way from being a manufacturing and agricultural economy to becoming one of South Asia’s strongest offshoring and outsourcing destinations offering top-notch managed solutions. While the Philippines started off as a go-to country for most call center and customer service work, it has gradually evolved into a prime location for several high-level outsourcing and offshoring investments. Here are a few reasons why the Philippines is definitely more than just a call center country.
Value For Money
The primary reason for most businesses to opt for offshoring solutions is because the labor costs in their home country are sometimes prohibitively high. Offshoring offers the opportunity to cut costs and scale faster, ultimately leading to higher profitability. The cost of living in the Philippines is far less than in the United States, Australia, and so on. This means businesses can pay laborers a substantial wage for much less than they’d pay in their home country.
Fewer Communication Barriers
Communication is key when it comes to integrating a virtual offshore team. People in the Philippines speak excellent English, which means there will be fewer language barriers.
Besides Tagalog, Filipinos also widely converse in English in their daily life – in fact, the Philippines might be one of the largest English-speaking nations in the world. This means businesses will find that their Filipino teams are easy to talk to and that their accents are very similar to ones found in the United States because the Filipino culture is very similar to the Western culture in various ways.
Robust Government Support and Economic Climate
Many offshore destinations offer great value for money; however, they also add risk to a business with an unstable economy and government support. Not only is the economy of the Philippines strong, but the Filipino government is also incredibly stable.
In fact, it is one of the fastest-growing economies in Asia. They actively invest in streamlining technological advancements and infrastructure to welcome foreign investment and support the offshoring and outsourcing industry.
Highly Qualified, Hard Working, and Diverse Talent Pool
For many businesses, offshoring is about more than just saving some bucks. It also requires the harnessing of remote talent that they cannot necessarily find in their local markets on such a large scale. With thousands of people graduating from various universities every year, the Philippines has a highly diverse pool with a skilled and knowledgeable workforce that can help your business flourish by being available for customers during business hours and beyond.
Ready to build your virtual team in the Philippines without the hassles and stressors involved in forming a company overseas? ADDMORE Services can help. We use the latest communication tools to provide real-time updates and 24/7 support to facilitate your team in the Philippines.