[Ask TBM] What Aspiring BPO Owners Should Keep in Mind
The business process outsourcing (BPO) industry is one of the fastest-growing industries in the country. The owner of Coefficients reveals how you can use this to your advantage.
The business process outsourcing (BPO) industry is one of the most lucrative industries in the country— bringing in $29.1 billion in revenue (approximately PHP 1.60 trillion) in the first half of 2022 alone! Given this, it's no surprise that many aspiring business owners have set their sights on the industry, whether to use its services or start their business in that field.
Defined as "the delegation of one or more IT-intensive business processes to an external provider that, in turn, owns, administrates and manages the selected processes based on defined and measurable performance metrics," BPO—by its very name—is often outsourced by companies. What's more, BPO offerings come in two major categories: horizontal offerings, which can be leveraged across specific industries, and vertical-specific offerings, or vertical process knowledge which applies to a specific industry.
Simply put, a BPO is a business practice, wherein a company gets the services of an external service provider to perform essential business functions or tasks for them. These include call centers, payroll, accounting, and other administrative tasks.
However, starting a business in the BPO industry can be tricky, especially if you're unfamiliar with how it works. To help out those who are interested in exploring business opportunities in BPO, we asked the owner of Coefficients, Mary Rose Cadiente, for tips and advice.
Prior to becoming a BPO owner, you spent many years working in the industry first. What did your experience working for different BPOs teach you about running a business?
Throughout my experience working for a variety of BPOs, I've learned four main takeaways that are particularly relevant to running my own b
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