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Article Category: Article
The outsourcing sector is a $100bn++ sector worldwide. It is a $30bn sector in the Philippines alone – contributing 10%+ to the country’s GDP.
Outsource Accelerator is the ‘Alibaba of outsourcing’.
Outsourcing: A huge opportunity for Philippines
The Philippine is the world leader in outsourcing. Outsource Accelerator is positioning and promoting the country and the “Swiss banking of outsourcing”, referring to the country’s distinguished history, expertise and dominance in the sector, as well as its superb levels of English and cultural alignment.
Outsourcing has transformed the economic outlook of the Philippines, however not enough is being done to promote this incredible service to the rest of the world.
The concept and adoption of outsourcing is growing at breakneck speed as it begins to be gradually understood and embraced by Small and Medium Enterprise (SME/SMB) in the world’s developed nations.
The SME market in the ‘West’ consists of 35 million businesses, with 100m employees, and revenues of c.USD60 trillion. We estimate that only 1% (at most) of these businesses are already outsourcing. Eventually 100% of SMEs will outsource, as the practice of ‘outsourcing’ and standard ‘employment’ become synonymous.
Technology is moving along at breakneck speed. It is changing the way that we all work. Now, 90% of office based work is done from in front of a computer screen – work which in reality could be done from anywhere. As technology continues to improve and advance work interfaces, there will eventually be no distinction between a remote workforce and a local one.
Outsourcing within the SME sector will continue to grow at a huge pace as the concept becomes increasingly normalised and more easily accessible. Job candidates will be assessed based on their skills, deliverables and price – not on their geo-location. The job market is becoming an enhanced meritocracy.
Despite the massive size of the outsourcing industry, there is no aggregator platform. In comparison, there are now aggregator marketplaces, or platforms, in almost every industry (manufacturing, flights, hotels, fashion, property, consumer finance etc). The applicability and need for an aggregator platform is even more critical within the outsourcing sector, because it spans international borders, involves complex ongoing relationships and is overshadowed by mistrust or uncertainty.
Hence, Outsource Accelerator is building a ‘consumer-facing’ aggregator platform which specifically suits the needs of the SME outsourcing market.
Unnecessary barriers to outsourcing
The common barriers to SMEs starting outsourcing are typically lack of awareness, uncertainty, and apathy. However, outsourcing can literally transform a business. It can enable businesses to save 70% on staff costs, whilst freeing up resources to hire more people, expand and drive unprecedented innovation and growth. It is a win-win for the SME, its community and country, and of course, the Philippines (as the preferred outsourcing destination).
The Philippines outsourcing market has exponentially expanded over the last 20 years, but it is now slowing down. This is because all of the early outsourcing participants were the large corporate multinationals. They were early to start as the early iteration of outsourcing required huge infrastructure and upfront investment.
Now, the market is more mature, and infinitely more flexible, accessible and affordable for the SME market. But there is no awareness of this opportunity amongst the SMEs.
What is lacking is an accessible jargon-free portal which provides education and information and the opportunity for Western businesses to comfortably, and conveniently, and safely connect with Philippines outsourcing suppliers.
Outsource Accelerator is your trusted source of independent information, education and advisory for Business Process Outsourcing (BPO). It offers easy access to the outsourcing industry through a platform of aggregated affordable, low risk range of productized outsourcing services. These productised services are provided by verified outsourcing supplier partners and promoted and ‘resold’ on the Outsource Accelerator platform.