Reduce costs and increase profits without compromise. All while accessing a deeper, wider talent pool.
When your offshore team cares about the outcomes of their work, they’ll work harder and commit to continuous improvement.
Reap the benefits of big-business infrastructure and proven best-practices without all the usual hassle and expenditure.
Its low living costs and first-class education system are just the beginning. See why the Philippines is the best offshoring destination.
When you partner with the strongest provider, you get the best outcome, and no hidden costs or unforeseen risks.
It’s your team. You have full visibility and control, without having to worry about facilities, operations and regulations.
Learn your offshoring options and explore the benefits of Managed Operations over less effective models.
As the largest managed operations offshoring provider in the Philippines, we’ve learned a lot. Here are some tips to ensure your success.
Offshore staffing has a bevy of benefits, not least the potential for up to 70% cost savings.
We make it easy and affordable for businesses to build their own full-time, dedicated teams in the Philippines.
Meet the team behind our successful journey to becoming the largest offshoring provider in the Philippines.
We have 11 locations in purpose-built hubs across the Philippines, giving you the best performance and talent pool possible.
11 state-of-the-art delivery centers, 2 careers centers, 4 prime locations, 21,931 square meters.
Since 2012, our organization has been certified according to ISO 9001 and ISO 27001.
Follow our journey from the very beginning to becoming the premier Managed Operations provider in the Philippines.
Business plays a vital role in addressing social and environmental issues in the Philippines
A creative design agency powered by MicroSourcing, for your graphic design, content writing, motion graphics and WordPress development projects.
Learn how offshoring improves your productivity and helps grow your business.
The comprehensive offshoring primer for business owners and managers.
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Deep-dive into the details of offshoring. Research reports, fact sheets & more.
Unlock the full potential of outsourcing with ease and discover the perfect fit for your organization. Our comprehensive range of offshore roles can help streamline your operations and make outsourcing simple.
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Outsourcing an entire department or division in your business can lead to major efficiency gains. For successful team structures, local market recruitment advice and suggested staff to leader ratios, select one of the common teams that can be easily outsourced to the Philippines below.
Outsourcing is a very versatile strategy suitable for businesses of all shapes and sizes. Below are common industries that have successfully implemented an offshore model. Get local insights relevant to your area of specialization, learn what others have done in your industry and leverage their experience.
The FinTech industry has been thriving thanks to its ability to leverage digital transformation to offer regular financial services at a lower cost. However, for many FinTech organisations, their budgets are usually far from small and the cost to drive FinTech success and business growth adds up. This is why FinTech leaders are always on the lookout for ways to cut costs - enter outsourcing in FinTech.
According to a report by PWC, as many as 20% of FinTech organizations engage in outsourcing and a further 65% of them anticipate incorporating outsourcing solutions into their business planning for the future.
In this blog, we discuss the benefits of outsourcing, how it can be applied to the FinTech industry and what FinTech tasks and functions are best suited to send to offshore teams.
Outsourcing involves sending certain tasks, roles or functions to a third-party organization to complete. This involves hiring a team of people to perform these tasks on behalf of your company in a business that could be located down the road, in another state or in another country.
Offshoring refers to the latter. Offshoring is a type of outsourcing where you create an extension of your business or team in another country. There are a few different business models when it comes to offshoring including traditional, staff leasing, captive setup assistance, staff augmentation, project-based and build-operate-transfer (BOT).
In Australia, there are currently over 850 active FinTech organizations and in the United States, there are, as of November 2021, 10,755 FinTech startups. Keeping up with the competition is getting harder and harder. A key issue facing many FinTech organizations is trying to source quality talent with the skills necessary to support business growth and maintain a competitive advantage… all at an affordable price.
Outsourcing is a way of opening up a global talent pool of FinTech professionals with no limitations on location. Instead, you can take your time understanding whether hiring a Technical Support Engineer in the Philippines, for example, is better financially and culturally, than hiring one locally.
There is a multitude of FinTech functions and tasks you can outsource and every organization has different requirements. The great thing about offshoring, as long as you choose the right provider, is that you can tailor the set up to suit your business needs.
In saying this, the most commonly outsourced FinTech functions and roles include:
An offshore provider that is suitable for one organization may not necessarily be a great fit for another. In order for your outsourcing journey to be a success, it’s crucial that your business fully understands how potential outsourcing providers operate and whether they understand and can meet the needs of your business.
Business Process Outsourcing companies (BPOs) generally operate within developing economies. This provides several benefits to organizations looking to outsource FinTech processes. These include:
Outsourcing can save your organization money by having day-to-day tasks completed in a lower-cost economy, such as the Philippines, where employment costs are up to 70% less. Hiring new staff is an expensive process. Many overhead costs come alongside hiring a new offshore team. The right outsourcing provider can take care of these costs such as recruitment, human resources, new office equipment, superannuation, payroll tax, workers compensation, IT and overall management supervision. Apart from the engagement costs, you would only be sacrificing your time to train your new employees, which is a long-term investment for your business.
Outsourcing allows you to allocate FinTech tasks to an offshore employee instead of your onshore team. That way, your local team can focus on what they do best and what motivates them, while your offshore team appreciates the opportunity to support your business. This combination improves productivity across the board.
In the long run, outsourcing also helps increase efficiency and job satisfaction for employees. Outsourcing can also enhance customer satisfaction by improving the quality of your customer interactions, increasing your availability to customers and providing your customers access to expert services at their convenience. Businesses can set up a 24/7 customer support line to allow their onshore team to focus their energy on nurturing relationships while your outsourced team expertly handles customer service queries.
One of the many reasons FinTech organizations struggle to grow is a lack of funds to invest in additional resources to support growth objectives. When faced with a sudden increase in demand or an influx of client requests across different business functions, often businesses don’t have the time to recruit new employees to leverage potential growth opportunities.
Efficient outsourcing providers can have your outsourced team set up in as little as six to eight weeks. By hiring an offshore team, you will free up funds that can be used to reinvest back into the growth of your business. With the additional support of an offshore team, you can increase the capacity of your organization to take on more work.
The Philippines ranks as one of the world’s top 10 offshore destinations. Why? What makes the Philippines such a great location? The short answer - it’s the people.
The FinTech market is expected to keep growing at an astonishing compound annual growth rate (CAGR) of 26.2% from 2022 to 2030, reaching US $936.51 billion by 2030. This growth can be attributed to the rise in demand for digital financial services that provide a more secure customer experience.
It is no secret that digital transformation has been sweeping the banking and finance world. Automation, cloud-based products and online banking are at the forefront of almost all executives’ minds as colleagues and competitors alike race to identify and implement the latest digital solutions and platforms to save their organizations time and money. So strong has the investment been that it has spawned a lucrative industry all of its own, with CB Insights reporting the planet was home to almost 80 ‘FinTech’ companies worth more than $1 billion by early 2021.
The big question is - what happens next? Given the nature of technology, one certainty is more change. Just as time waits for no man, the digitalization wave cannot be stopped and many traditional banks have finally realized it is a case of getting onboard or risk being left behind. While FinTech and neobank entrepreneurs have a short but proud history of pushing the digital edge, some legacy players have been slower out of the blocks and are now rushing to meet the needs of tech-savvy consumers who consider online banking, not just one option but all they know and want.
With so much transformation happening across the financial landscape, it is easy to lose sight of the key digital banking trends likely to impact the sector in the coming year. Our blog highlights the ‘7 digitization trends transforming the bank industry’ to keep an eye out for that will ensure your FinTech business stays ahead.
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