The perspective on how things in the business should be done have instantly changed with the emergence of business process outsourcing. Most of the businesses are now offshore outsourcing their work to save time and money to remain competitive. The Philippines is one of the fastest growing nations around the world, among of the popular business districts are Quezon City, Makati Taguig, Ortigas which are all located in Manila, the national capital region of the Philippines. The companies abroad prefer outsourcing and offshoring in the Philippines because of its high educated, efficient talent pool and flexible. The IT offshoring in the Philippines has been in great demand due to high cost of labor abroad.
The companies around the world not just do outsourcing call centers however also data entry services, web design and development. The financial services and accounting are actually becoming an indispensable part of the business process outsourcing as the finance and banking industry are experiencing global changes. The companies in finance and banking are forced to adapt to the unpredictable transition of the market from product centric to a customer centric approach to survive its crowded competition.
For asset and and financial management, financial analysis and accounting department more and more companies outsource their financial services to cut cost, remain competitive thus focusing on their core business needs. The banking service sector and finance is expected to grow in the coming years as it embodies valued added domains such as financial management, insurance claims processing and mortgage processing which obviously indicates that business process outsourcing will remain on top in the market.
REFERENCE:
http://www.eastvantage.com/articles/outsourcing-your-financial-services
