Offshoring is a solution that many companies affected by the COVID-19 pandemic leveraged to recover from economic challenges and strengthen their operational resilience. It continues being a strategic option today because it offers cost efficiencies, access to global talent pools, and operational flexibility for companies looking to scale their operations.

Numerous marquee brands now consider the Philippines a top offshoring destination, since many of them have gained competitive advantages from its amazing talent pool. The success of these brands serves as a testament to the effectiveness that offshoring delivers in driving growth.

Here are some of the top brands that benefited by offshore staffing in the Philippines.

Accenture

Accenture is a prominent leader in technology, consulting, and outsourcing services. Initially focused only on limited back-office operations, its offshoring initiative soon flourished after expanding in the Philippines.

Accenture leveraged the Philippines’ growing BPO industry to diversify its services, which now include IT, finance and accounting, and human resource management. The brand’s reach continues to expand, now with 22 delivery centers in the country and a growing revenue of $64.1 billion (2023).

JPMorgan Chase Co.

JPMorgan Chase and Co., a prominent financial services company, has also enjoyed various benefits from offshore staffing in the Philippines. Offshoring allowed JPMorgan Chase and Co. to provide high-quality services in commercial banking, investment banking, cybersecurity, and infrastructure management, at a much lower labor cost base.

JPMorgan employs approximately 15,000 people in the Philippines and has established major operational hubs in key locations. Their offshoring strategy has contributed to JPMorgan Chase Co.’s considerable revenue of $239.425 billion in 2023, which was a 54.68% increase from 2022.

Procter & Gamble (P&G)

Procter & Gamble (P&G) is well-known globally for its various consumer goods, particularly in healthcare, cosmetics, food, and beverages. P&G opened operational bases in the Philippines due to the country’s growing consumer base and strategic location in Southeast Asia. The company initially focused on manufacturing and distribution, gradually expanding its operations to include sales, marketing, and IT functions. Offshoring helped increase P&G’s innovation productivity.

American Express

American Express is another major company that offshores to the Philippines as a business strategy. This well-known American bank holding company and multinational financial services corporation has been offshoring its customer service operations to the Philippines since 2004. They have also offshored various financial processes like transaction processing, credit analysis, and financial reporting, which tap into the country’s talent pool.

Since American Express implemented this strategy, it has been more focused on its main areas of expertise – facilitating growth in international trade and competing across global markets.

Dell

The Philippine’s skilled workforce, favorable business environment, and strategic location have played a key role in Dell’s global success. Leveraging the Philippines’ lower cost of labor has enabled Dell to achieve significant cost savings while maintaining high service standards.

Offshoring also enabled Dell to scale its business operations and expand its market presence in Asian countries and beyond. This strategy is integral to Dell’s success in gaining a competitive edge in the global IT and technology market.

Maximize The Benefits of Offshoring Services with EVES

Offshoring Agency

Offshoring to the Philippines is a cost-effective solution for small businesses as they can gain access to a large pool of English-speaking talent with budget-friendly labor rates. Moreover, the Philippines has a cultural affinity with Western markets, which makes it an ideal option for small US businesses that want to focus on expansion and growth.

Choosing the right offshoring partner is critical when deciding to move some of your operations abroad. You should choose an outsource staffing agency that meets specific business needs and is dedicated to helping you achieve your goals.

Consider offshoring accounting services and other functions today with Elite Virtual Employment Solutions (EVES) to improve operational efficiencies. EVES is dedicated to helping you gain a competitive advantage and providing access to qualified Filipino accounting professionals at economically attractive rates.

Call our experts today at (747) 300-3234 or email us at info@evesolutions.net