UPDATE: Looking for an update? Read our new Top 5 Countries for Outsourcing in 2021 list here.
Technology has changed the world as we knew it, state and country lines today are inconsequential when it comes to the world of outsourcing. BPO or Business Process Outsourcing is the norm! It’s simple, companies want to minimize their costs and maximize their revenue and efficiency. The two questions that then arise are, ‘why should I outsource and where should I take my business?’
Take a look at the top 5 countries that are significant players in the outsourcing multiverse.
1. India – A popular destination for companies looking to outsource, India has a lot in its favor. The country has a vast pool of talented technical and skilled workforce, holding the distinction of being the largest English speaking nation in the world, larger even than the US and UK combined. With flexible pricing, technical infrastructure, and high quality of services rendered, the country remains in the top 5 countries chosen for outsourcing.
2. Philippines – English is an official language of the Philippines and is used as the primary medium of instruction. Filipinos are trained to speak with a neutral accent and have an excellent command of the language as compared to other non-English speaking countries. With exceptional work ethics and a boom in the IT development sector, the Philippines remains unparalleled in its offerings.
3. China – Boasting the world’s largest population, a BPO presence in China means connections to the APAC region. With the country being a massive hub for the manufacturing sector, it is but a natural choice to outsource to China.
Even though the BPO industry is relatively concentrated in Asia due to the low-flexible costs, abundant human resources, robust IT infrastructure as well as the work ethic, it would be impossible to disregard the growing importance of LatAm in the outsourcing sector.
Near-sourcing, or nearshore, is the new phenomenon that is taking the outsourcing industry by storm. In an effort to make their Supply Chain leaner, companies are looking to place their business processes closer to home and the end product destination.
4. Mexico – Catching up in its infrastructure, Mexico boasts of strong language skills and proximity to eastern time zones giving it an extra edge in the outsourcing landscape. With a strong workforce in the IT sector and its closeness to America, it is fast becoming the go-to choice.
5. Brazil – A robust domestic economy, Brazil is rapidly emerging as both a compliment and competition to its offshoring counterparts. Strong cultural similarities, overlapping time zones and the congruence of onsite and nearshore staff give quality and effective results.
Even though the ‘why’ and ‘where’ for outsourcing can be answered via this list, it is essential to address the key problems facing your business to choose the right partner, country and time