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Outsourcing In India Vs Philippines: Which Is Best For BPO? 

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Financial services involve a high number of tedious processes and time-consuming paperwork. So it’s no surprise many financial professionals turn to Business Process Outsourcing (BPO) to increase efficiencies and lighten their workload. 

Before deciding where to outsource to, though, you need to factor in a number of considerations. One of these considerations is deciding which country is best suited for your BPO partner. To make the decision easier, we take a closer look at two of the most popular options in India and the Philippines.

Business Process Outsourcing (BPO) In India Vs Philippines

For decades, India has been a powerhouse when it comes to providing reliable BPO options for financial professionals. While in recent years the Philippines has gained popularity, India still has a number of advantages that make it a superior outsourcing choice. These include:

Larger talent pool

India recently became the most populous nation in the world and boasts a substantially larger talent pool than the Philippines. It has a well-developed education system and offers internationally recognised programs in different areas of finance, such as accounting, financial analysis and data management. This makes it easy to find a workforce that specialises in the specific tasks you want to outsource, from entry-level data entry and transaction processing to high-level financial analysis and research.

Greater understanding of culture and language 

India has the second largest population of English speakers in the world, with an estimated 128 million people who speak English. This is roughly double that of the Philippines. While the Philippines is a former US territory, India is a former British colony, like Australia. The workforce has a high level of understanding of the way Australians companies do business.

Superior outsourcing expertise

While the Philippines is a more recent addition to the outsourcing landscape, India has been a BPO leader since the 1980s. It pioneered many of the BPO practices used today and is famous for its "dedicated team" outsourcing model. This model involves outsourcing specific business functions to a dedicated group of workers who act as a seamless extension of your in-house team.

Lower costs

While both countries provide affordable options for outsourcing, India’s lower wages and cost of living give it an advantage over the Philippines. An accountant in India, for example, earns a base salary of $350 per month, compared to $790 in the Philippines. This means outsourcing to India can be a more budget-friendly option than the Philippines.

Higher political and environmental stability

India has a history of actively promoting the BPO industry through incentives and support. Being a larger country than the Philippines, India tends to be more resilient to political shocks too. It also has few disruptions from an environmental standpoint, whereas the Philippines is prone to natural disasters such as typhoons and earthquakes.

Sundaram provides high-quality Business Process Outsourcing (BPO) in India

If you do choose to outsource business processes to India, there’s no better partner than Sundaram Business Services. We are a BPO expert with offices in both India and Australia. This allows us to provide affordable, highly-skilled workers from overseas while offering the peace of mind that comes from on-shore experts who understand the local market.

Here are the types of financial professionals who turn to us for BPO:

  • Accountants
  • Bookkeepers
  • Financial planners
  • Mortgage brokers
  • Administrative managers
  • Chief financial officers (CFOs)
  • Small and medium-sized enterprises (SMEs)
  • Multinational corporations
  • Investment firms
  • Insurance companies
  • Banks
  • Financial advisory firms
  • Wealth management firms
  • Asset management companies.

Why so many financial professionals outsource to Sundaram Business Services

Outsourcing to Sundaram allows you to streamline operations, reduce overhead costs and focus on your core business activities. This can ultimately lead to business growth and a better quality service for your clients. 

One example of this transformative impact can be seen in the case of a top-tier accounting and secretarial firm that partnered with Sundaram.  The firm faced productivity challenges due to repetitive tasks like verifying compliance documents, missed deadlines and difficulties in retaining skilled staff in a competitive market. They contacted Sundaram Business Services to solve the problem. 

Our solution involved:

  • Conducting a Business Re-Engineering Workshop
  • Identifying key areas for operational improvement
  • Streamlining processes to reduce inefficiencies
  • Segregating tasks suitable for outsourcing.

The partnership with Sundaram Business Services enabled the firm to boost its customer base by 44% and significantly improve operational efficiency, allowing more time for client relationships and value-added services. This collaboration also led to consistently meeting compliance deadlines and reduced hiring costs, streamlining the firm's operations and staffing strategy.

If you’d like to explore how Sundaram can support your business needs and enhance your productivity, get in touch to work with us now.

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Sundaram Business Services is a business process outsourcing company with offices in Australia, India and the UK. With over 20 years’ experience in the Australian market in providing outsourced teams to Australian businesses across Accountancy, Portfolio Management, Self-Managed Super Funds, and Mortgage Broker Support, our business becomes an extension of yours.

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