Abundance of high quality low cost labor
The Swiss International Institute for Management Development has ranked the Philippines as No. 1 in Asia for the availability of skilled labor in 2004. The country produces over 400,000 computer literate college graduates annually. Being a developing economy with significantly lower labor costs, outsourcing to the Philippines can generate savings of at least 50-60% of current operating costs.
Superior proficiency in English
Being a former Territory and Commonwealth of the United States from 1898 to 1946, the educational and legal systems are patterned after the American model. English is used as the medium in educational institutions, all branches of government, business and in all forms of media. 70% of the population (roughly 60 million people) is fluent in English. English is taught with American-style diction and pronunciation. This gives Filipino-English a neutral or almost American accent.
Filipino work ethic, personality, and hospitality
In industries that involve direct customer interaction, Filipinos are given high distinction for superior customer service. Hospitality is second nature to them. Filipinos are generally very amiable and take the time to understand others beyond race or culture and then go on to empathize with them especially during times of great need. Filipinos are also known for their technical abilities, their creativity, and for being hard workers who take the extra mile to get the job done.
World Class IT and Telecom Infrastructure
The Philippines has a deregulated telecommunications industry with multiple players providing numerous fiber optic landings and links to major internet hubs in the North America, Europe and the rest of the world. The country currently has redundant and robust international connectivity with 24x7x365 support backed up by two telecommunication satellites (AGILA II and AcES). There are multiple dedicated IT parks in many business districts around the country. IT and Telecom service providers are also capable of integrating offshore back-office processing systems with US based enterprise resource planning (ERP) applications.
Accounting System modeled after that of the U.S.
Accounting practiced in the Philippines is not only modeled after, but also generally observes, the generally accepted accounting principles (GAAP) in the U.S. This ensures that Philippine based accountants would always be in the same page with their U.S. counterparts during their regular correspondence when working on accounting projects.
