Offshoring, or the process of employing staff overseas, has become a common practice among businesses worldwide. Compared to hiring locally, it is a great way to get significant cost savings and find highly qualified staff who can get the job done efficiently.
The Philippines is one of the top countries for outsourced services, with companies of all sizes and industries opting to hire Filipino staff to support their business. The talent pool in the country spans across a wide range of specialisations such as finance and accounting services, administration, customer service, purchasing and logistics, information technology support and digital marketing.
Not to mention, their time zone is similar to that of Perth and is only two hours behind Melbourne, Sydney, and Brisbane.
If you’re looking to set up an offshore team, here are some of the skill-based advantages the Philippines offers:
Pro #1: High Literacy Rate
Literacy in the Philippines is quite impressive. It boasts a high basic literacy rate with 93.1% of the population aged 10 to 64 able to read, write, and compute. It also ranks among the top countries in Southeast Asia with a high adult literacy rate of 97.6%.
Their educational system in terms of accounting is also on par with that of Australia. For one, they adopt the same International Financial Reporting Standards (IFRS) as the Philippines Financial Reporting Standards (PFRS). In terms of education, the length of an accounting degree is actually longer than in Australia– it is a 5-year full-time study.
The excellent educational background and skills in the Philippines make it an ideal location for remote staffing. They are fast learners who can easily adapt to new processes and technologies.
Pro #2: English Proficiency
English is one of the Philippines’ official languages and is used for many verbal and written communications. The country is consistently among the top countries with high English proficiency. In 2024, it ranked 22nd out of 116 countries with high proficiency and is the 2nd most proficient in Asia behind Singapore.
Their high proficiency in the English language makes them well-suited for overseas firms such as Australia. Clients can easily train or converse with their remote staff without language barriers in the way. This not only helps them carry out their role properly but also helps them build strong working relationships.
Pro #3: Adaptability and strong work ethic
Filipinos are very service-oriented. They have high regard for professionalism, as well as loyalty and integrity. It’s in their nature to be respectful in the workplace and to be friendly with their colleagues. This gives them an excellent work ethic that can significantly contribute to your business.
Coupled with their skills and qualifications, their positive attitude towards work makes them an attractive workforce.
How to get started with your offshore team in the Philippines?
The Philippine outsourcing and offshoring industry is quite prevalent– numerous offshoring outsourcing companies can help you get started. However, choosing the right company is crucial for long-term business success.
There are various factors to consider when choosing the right firm for your business. It’s not enough that they significantly reduce costs– they will need to understand your individual needs and industry.
TRA Offshoring Solutions is an offshoring company that specialises in accounting outsourcing in the Philippines. Given our background in Australian accounting and business, we can help you easily and effectively find highly qualified accounting staff.
Aside from accounting, we can find and manage roles such as admin staff/virtual assistants, marketing coordinators, executive assistants, and the like.
