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With the Philippines being the 39th largest economy in the world, the country continues to be a promising prospect for the BPO Industry. In August 2014, the Philippines hit an all-time high for employment in the BPO industry. From 101,000 workers in 2004, the labor force in the industry grew to over 930,000 in just the first quarter of 2014. [7]
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
A Teletech BPO site in Cainta, Rizal. Call centers in the Philippines began as providers of email response and managing services then broadened to industrial capabilities for almost all types of customer relations, ranging from travel services, technical support, education, customer care, financial services, online business-to-customer support, and online business-to-business support.
The BPO industry in the Philippines generated $26.7 billion in revenues in 2020, [212] while around 700 thousand medium and high skill jobs would be created by 2022. [ 213 ] In 2015, official statistics put the size of the total outsourcing industry in China, including not only the BPO industry but also IT outsourcing services, at $130.9 billion.
The rise of the animation outsourcing industry in the Philippines began in the early 1980s, with FilCartoons, Burbank Animation Inc. and Asian Animation setting up operations in the country and providing animation exports to foreign companies. In 2008, the Philippines had over 50 animation companies, mostly small and medium-sized companies.
Acquire BPO reached another milestone when the company officially launched its newest US headquarters at 3660 Regent Boulevard, Irving, Texas in December 2023. [14] The new site allows for enhanced collaboration with clients and complements Acquire's existing offshore and nearshore offerings, providing clients with a versatile mix of services ...
Banking business process outsourcing or banking BPO is a highly specialized sourcing strategy employed by banks and lending institutions to facilitate the business acquisition and account servicing activities linked with the customer lending lifecycle.
Location of the Philippines. The Philippines is a sovereign island country in Southeast Asia situated in the western Pacific Ocean. It is a founding member of the United Nations, World Trade Organization, Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation forum, and the East Asia Summit.