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Finance and Accounting Outsourcing (FAO) became a trend, with the availability of the necessary technology and growing number of finance and accounting professionals in the Philippines. Some of the FAO processes commonly outsourced are payroll, order-to-cash (O2C or OTC), procure-to-pay, and record-to-report processes.
Finance and Accounting Outsourcing (FAO) became a trend, with the availability of the necessary technology and growing number of finance and accounting professionals in the Philippines. Some of the FAO processes commonly outsourced are payroll, order-to-cash (O2C or OTC), procure-to-pay, and record-to-report processes.
Countries compete daily to make its mark in the globaloutsourcing market. Workforce Efficiency: The US government is changing the business landscape by supporting the outsourcing business through pulling back jobs to the country to increase its employment rate. . As a result of this law, it has made outsourcing more accessible.
According to Statista (paywall), the globaloutsourcing market earned $85.6 These statistics predict a megatrend that will reshape the outsourcing market. . This is according to the latest Tholons’ Top 100 Outsourcing Destinations for 2015. . billion in 2018 and significantly more in 2019.
In 2016, the industry has reached $25 billion in revenue, accounting to more than 15 percent of the overall globaloutsourcing industry. Tenfold stated five examples of the United States’ biggest online breach in 2015: Hackers stole the data from 4.8 Rappler has reported back in 2014 that it will reach $48 billion by 2020.
The Philippines has been a part of the globaloutsourcing industry. In 2015, the country’s BPO industry is at its highest peak. This is evident in the Philippine contact center industry where it remains to be attractive even to many foreign clients. A large percentage of BPO workers are into the contact center sub-sector.
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