Business Process Outsourcing (BPO) is one of the fastest growing industries in the world today. As one of the leaders in the global BPO market, India was considered a prime outsourcing destination for multinational companies--the "back office of the world". But industry analysts now concur that the Philippines has overtaken India as the major player in the hot BPO industry.
The Philippines boasts a highly skilled and available workforce. While India has a literacy rate of only 66%, the Philippines features a soaring 94%. In fact, the Philippines boasts one of the largest workforces fluent in English, both speaking and writing. Compared to neighboring countries also pursuing call center success, Filipinos are preferred by foreign clients because of their neutral accent. Pairing this competency with the English language with natural warmth and friendliness makes Filipino agents highly commendable by clients. The country, moreover, is known for its superb educational system. The country’s reputable colleges and universities provide a large number of candidates entering the workforce annually. These graduates take advantage of the growth of local outsourcing opportunities, leading to increasing numbers of skilled workers staying in the Philippines. When it comes to the trend in primary business requirements, experts are seeing a shift from cost-effectiveness to skills, quality and competence. This development all the more strengthens the Philippines' position as an emerging global leader in the BPO industry.
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