MANILA - The Philippines' business process outsourcing industry may stand to benefit from the "next wave" of outsourcing as companies around the world cut costs due to the COVID-19 pandemic, an industry expert said on Sunday.
Derek Gallimore, CEO of Outsource Accelerator, said the Philippine BPO industry presents "incredible savings" to companies abroad who are looking to slash workforce expenses with uncertainties facing the global economy.
Gallimore said that while the average salary of a US worker is around $60,000 a year, a Filipino's salary would be just around $6,000 a year.
Medium and small enterprises in English-speaking countries, which were badly affected by the pandemic, would likely look to outsourcing, Gallimore said.
He also dismissed suggestions that technologies such as artificial intelligence are making outsourcing obsolete.
"Absolutely not, it is exactly the opposite," Gallimore said noting that the BPO industry in the Philippines is moving away from low-value repetitive tasks that are vulnerable to automation.
High-value tasks like coding, design, marketing are replacing low-value outsourcing, he said.