THE MUSHROOMING OF THE BUSINESS PROCESS OUTSOURCING (BPO) INDUSTRY: The Philippines' Sunrise Industry?

Abstract

The business process outsourcing industry is such a phenomenon not just in the Philippines, but in the whole world. It is heralded as the world’s fastest growing industry and is expected to stir up the global economy in the coming years. Through the years, the business process outsourcing industry has been growing exponentially. The industry was responsible for the skyrocketing of revenues in host countries, like the Philippines. This paper shall deal with the issues and concerns that beset the industry, the advantages it has offered and is offering up to now, what to expect from it in the years to come. Though the industry is faced with the fact that call centers are still growing today, the outsourcing landscape is changing as more of the ''voice” sector (call centers) is submitting into the “non-voice” back-office work. Many used to say that the BPO industry is not here to stay because it has no hard investments to speak of, hence, they do not have to think several times before moving out of the country. These firms are alleged to just evaporate anytime and finish off and go to another country where benefits are better. People involved in the industry are attesting that the trend in call centers moving to BPO back-office operations is happening because the industry is entering into a maturing phase. Hence, they are dislodging the notion that the industry is not here to stay and is just a mere transition one.