The future of the BPO Industry in the Philippines remains thriving.
With an annual growth of approximately 10%, it continues to grow. And according to the Oxford Business Group, it is the largest source of private employment as well as the second largest contributor of foreign exchange earnings next to remittances.
In recent years, however, our country, similar to other business process outsourcing hubs around the world is prepping itself to face significant challenges, as well as opportunities, with the introduction of artificial intelligence (AI) and robotic process automation (RPA).
Automation and its Impact on the Industry
Robotic Process Automation or RPA refers to the use of software with artificial intelligence and machine learning capabilities that can handle high-volume, repetitive tasks that previously required humans to perform. It eliminates the need for manual data entry while increasing fulfillment rates and speed, efficiency and accuracy.
While this clearly reduces employment opportunities, on the brighter side, it also means that emphasis will be given to higher skilled jobs. Not only will this new technology make remaining jobs more productive, but it will also, at the same time, create new jobs.
So how is all this affecting the Philippines’ BPO industry?
Even in the face of adversity, we continue to flourish, and everything looks rosy. All signs are pointing up as the BPO industry continues to grow exponentially and is projected to double again by the year 2020.
In 2017, 3.8 million square meters or 80% of total prime office spaces in Metro Manila were occupied by BPO companies according to global property consultancy firm Santos Knight Frank.
BPO hubs in provinces such as Cebu, Davao, Dumaguete, and Clark are emerging and continue to be constructed as reported by Rural Impact Sourcing – a program which aims to expand BPO to rural areas.
The steady growth that our industry continues to enjoy can only be attributed to the Filipinos’ strong work ethic and our ability to be emphatic. The common BPO service we provide are customer service types, and the human component in servicing simply cannot be automated.
With this, the negative impact of automation is less likely felt in our country.
Automation is enabling the industry to shift into more skilled areas, such as knowledge process outsourcing. KPO deals with specialized sectors like Market Research, Fraud Analytics, Equity Research and Investment, Banking Insurance, Data Integration, Medical Transcript Preparation and Legal Processes. Highly skilled and specialized roles will emerge in place of what automation is taking away.
Are you looking for a BPO company that will deliver top-notch quality service? A customer service team who come highly trained with the ability to provide genuine heartfelt customer service? We, at Select Voicecom, are the right fit for you!
We are your answer to saving operational costs while expanding your sales and customer service support. Our fees are all inclusive and based on the number of agent hours rendered.
From routine data entry to specialized tasks such as data mining, market research and security monitoring, we have the resources and the expertise you need to make your business grow.
So call us today to find out more.