We are already familiar with the concepts and we at least have a basic understanding of what is Offshoring and Outsourcing. However, let’s quickly recap in case we get confused about which is which.
Anyone who does a quick Google search will find that offshoring is:
“the practice of basing some of the company’s processes or services overseas, so as to take advantage of lower costs.”
Google Search
In other words, the practice of directly managing a dedicated resource from a different country of origin to take advantage of expanding the business at a lower cost.
While Outsourcing on the other hand means:
”to obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.”
Google Search
Meaning businesses are having the job done and managed by an overseas company to also take advantage of a lower operational cost.
Now that we have cleared that out, what is Regional Offshoring?
Regional Offshoring simply put, is getting your offshoring business needs from regional areas, like Bulacan, that has a huge potential that is being ignored- no, not ignored, but barely recognized because businesses are usually attracted to big cities due to the foot traffic wherein more people are exposed to a business leading to a higher generation of sales. As the foot traffic grows, so is the economy of that area skyrocket along with the taxes. While on the other hand, businesses in the Regional Areas such as Malolos, Bulacan often have less foot traffic but tend to have a higher chance of growth than most businesses in the city. Especially that it is adjacent to Manila and will soon have its own airport soon for convenience.
Why is that?
Since regional areas have lower taxes and property cost, that means it is more advantageous for business owners to invest in high-quality goods and services while regional areas, like Bulacan, hasn’t been dominated yet by much larger corporations. Needless to say that businesses in the larger and urban cities do not lack the quality of talents, they still have top-notch resources. But where do you think they get most of their manpower?
Sure, the metropolitan city of Manila has an overflowing pool of candidates from top universities. However, regional areas of the Philippines, namely Bulacan, do have a number of universities that also have a class of itself. These universities, while not as famous, they do produce some of the top examiners from Engineering, Accounting and Architecture licensure exams and has a high figure of professionals that are more often overlooked.
Why investing in a Regional Offshoring Business Partner is an advantage?
These talented professionals are one of the reasons why Manila and other metropolitan cities like Cebu and Davao have the highest gross income in the country while the regional areas are catching up in terms of socio-economic factors such as employment rate, literacy rate and wealth, to name a few. The higher the rate of these criteria is met, the closer a regional area is in becoming a metropolitan area.
Professionals that are drawn to the cities are more often than not, settle with jobs that don’t correlate with their professions. In doing so, their growth might be hindered and their potentials not fully utilized. In some cases, when they do find a job that is related to their actual profession, they expect higher compensation due to the living expenses in Manila. Thus, by having access to this pool of barely recognized talents in the regional area, you as a client, have the capability of providing the growth they can achieve with your company’s guidance as well as save a lot more on labour costs. Investing in a regional offshoring outsourcing company may just be something that may push you toward that growth that you have been aiming for.
These talents employed in regional offshoring companies such as Virtual Colony will be yours to nurture and be your support with anything that your company needs, such as General Insurance with knowledge in underwriting assistance that is led by certificate holder agents in Property and Casualty Insurance, bookkeeping and data verification service. Furthermore, your regional offshore staff is adept at providing on par customer service that is in accordance with your company’s core values.
Virtual Colony is strategically located in a regional area in the Philippines called Malolos, Bulacan where some of the well-known universities are from and all these amazing talents only needed to be nurtured while they’re at their hometown. It’s time for us to have first-hand access to these resources and provide them the opportunity to grow with us!
