Business Process Outsourcing

Sometimes our creativity can come head-to-head against efficiency—it may not go well with our ability to manage our tasks and finish what needs to be accomplished. On the other hand, being efficient may not produce the brightest of ideas or results. Creativity can be a very tricky thing; but just as knowing how to manage our time, we can incorporate it into any technical process or procedure with the right mindset and perspective.

The Business Process Outsourcing (BPO) industry in the Philippines employed 1.3 million professionals and generated $25 billion in revenues last year. It is expected that by 2022, the Philippines’ BPO sector will generate revenues of $40 billion and account for 15 percent of the outsourcing market in the world.However, the past few years have seen robotic process automation (RPA) and other automation technologies emerge—putting 89 percent of the BPO sector at risk, according to the International Labor Organization. As RPA technologies become increasingly advanced and widely used, processes that were once outsourced now require less human intervention.

A scalable business is something that all entrepreneurs aspire to achieve—but what does this exactly mean?Simply put, scalability means the ability of a business to respond to increasing demand or workload, and its potential to multiply revenue with just a minimal incremental increase in its costs. One of the most effective tools to scale your business is outsourcing, wherein a company hires a third party to accomplish a specific function or activity.