Surviving 25 years in the Philippine business sphere is a feat. It is moreover impressive when an industry outperforms itself year after year for 25 years and counting. That means, the industry has done something right to earn the confidence of businesses and their customers to make it famous for a long time. One good example of this industry is the Business Process Outsourcing or BPO.

So why is it popular amongst businesses?

1. It Costs Less for Businesses.

Outsourcing's nature is to look for an office that serves specific tasks at a cheaper rate. Since the usual BPO setup is between two countries, foreign exchange of currencies make this a win-win situation: while country A saves a huge amount by outsourcing compared to employing their "locals", country B earns more, as even though country A sets a lower rate, the conversion rate of currencies will elevate the cost of payment making the salary higher than Country B's domestic pay for the same kind of work.

Let's simplify this with a one-on-one basis:

Tom, an American, is looking for a web developer to create his business. The average asking price of American web developers Is about $1,000. However, Tom, being a businessman, only has a $500 budget.

He then looks for someone who can do the same, or even better, service within his budget. He stumbled upon Sinta, a Filipina web developer, who agreed to take the role. Sinta is happy because of this logic: If she handles the same project coming from Filipinos, she is paid for P10,000 or $200. But since her client is an American with American dollars as currency, she has earned $300 more.

2. More Talented Pool of Human Resources.

Some people excel in some field more than others. And those former people may be found some miles outside your country. Again, with the beauty of forex, this is a good deal.

3. Makes Businesses Efficient and Focused.

Outsourcing helps businesses delegate critical tasks that consume too much resources that are not really contributing to the core business-making processes. BPOs help businesses become efficient and laser-focused on to their main expertise and activities. More efficiency and focus means more brilliant ideas generated which in turn leads to more revenue-generating activities.