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Tuesday, December 02, 2008

Outsourcing Solves Cost issues Amidst the US Financial Crisis

Third-party specialists hired to fulfill non-core business initiatives—ExcelAsia

The advent of the global financial crisis has resulted in the emergence of outsourcing as a strategic solution for multinational companies. The Business Process Association of the Philippines reported that this year’s goal of 40% revenue growth for the Philippine business process outsourcing industry remains on track despite early threats posed by the US financial crisis.

ExcelAsia President Rita Trillo-Ugarte shares that outsourcing allows global companies to focus more on their core business, and that there are plenty of opportunities for the country.

“Even if global companies downsized their workforce as a cost-cutting solution, there will still be plenty of work left to be done,” said Trillo-Ugarte. “This is where the Philippines becomes a strategic location for new outsourcing opportunities. Companies who used to outsource call centers only will now consider outsourcing their back offices too.”

ExcelAsia is one of the leading human resource (HR) solutions company in the Philippines, with 35 BPO clients served though recruitment, training, executive search, and HR and business development consultancy.

The HR solutions company even has increased business partnerships despite the global crisis. ExcelAsia has new BPO clients requesting for 500 monthly endorsements, increasing the company’s current roster of 35 clients and endorsements for all its sites.

“Outsourcing training facilities to a third-party specialist is becoming more valuable among our BPO clients,” Trillo-Ugarte said. “Companies that conduct their own recruitment and training need big facilities and additional HR professionals. These initiatives are not part of their core business. Outsourcing these processes to HR specialists like ExcelAsia, which specializes in recruitment and training, results in cost and effort savings that can be applied to their core business.”

According to Trillo-Ugarte, their BPO clients can halve training costs because ExcelAsia has the expertise needed to do the job. The cost savings frees up resources for their BPO clients to concentrate on expanding their respective businesses.

Trillo-Ugarte emphasizes that in addition to providing savings, ExcelAsia also works to maintain the quality of the agents’ skills once they are on board through specialized training programs specifically developed for clients.

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