With the Philippines experiencing fast growth in the outsourcing industry and is now becoming one of the favorite offshore outsourcing destinations for businesses across the globe. After Business Process Outsourcing (BPO), where customer service and sales reigns supreme, came Knowledge Process Outsourcing (KPO) which is now starting to pick up in our country.
As a result, large vendor management groups were set up and complex bidding processes were introduced. In this rush to outsource, one group continued to enlarge, this is the procurement group.
PO is a spectrum of procurement related processes like requisition of goods, vendor management; invoice processing, order managers, procurement planners, catalogue development roles, supplier development as well as supply coordination in low cost countries.
Managing and hosting of procurement solutions could be a big opportunity for the Philippines and may be a key to outpace India in the outsourcing industry. With the opportunity laid on the road, the country must now start investing in this industry and have a goal of hosting and managing it well for a long-term basis.
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