If the outsourcing industry can be viewed as a type of “barometer” for conditions in the global market, then things are looking up in the business world.  This industry turned in remarkable statistics for the year 2009; in fact, it was the best performance in the last six consecutive quarters.

According to statistics from the 4Q09 Global TPI Index – which examines activity on outsourcing contracts with a value of $25 million or more – the outsourcing industry is in the midst of a steady recovery process.

Business process outsourcing, once the leading giant of the outsourcing industry, was hit hard by economic conditions that have impacted a variety of industries on a global level.  It was no surprise to see low points in business process outsourcing because of the unique interrelationship it enjoys with other commercial partners.  Just like other industries, the business process outsourcing industry saw low numbers in the first half of 2009.  Regardless of the poor performance by business process outsourcing, the outsourcing industry as a whole saw a brighter future by the end of 2009.

Thanks to performances by IT outsourcing, which posted increases of 54% over the previous quarter and 32% over the prior year, the fourth quarter of 2009 promised a glimmer of hope for the industry as a whole.  Outsourcing partners in healthcare related fields also have regained new strength, with 29% of contracts coming up for renewals.  These are promising figures for others in the industry who offer complementary services, especially business process outsourcing.

The total call volume in various regions indicates stabilization and the opportunity for the outsourcing industry to make a comeback.  In Asia, the region’s $10.5 billion earnings for the year were comparable to the 2008 earnings, indicating the return of stability in the Pacific.  Philippines outsourcing was included in this statistic, an area that remains competitive in the industry today.  Process outsourcing Philippines looks to ride on the coattails of 2009 to make 2010 a more profitable and prosperous year.

The entire world has experienced the effects of a sour economy, but 2009 statistics shows promise for the outsourcing industry.  Process outsourcing Philippines will continue to grow along with the ranks to provide high-quality services in 2010.

Related articles:

• New Study: Asia and Philippines Outsourcing Leads in Customer Satisfaction (trybpo.com)
• Why “Middle Managers” Are Critical for BPO Companies (trybpo.com)
• Is the Philippines an Overlooked Area in the Procurement Outsourcing Equation? (spendmatters.com)