Voncore Amidst Global Economic Crisis

Nov. 10, 2008 - PRLog -- The Economist says that the best situation that the economy could find itself is in the brink of recession. That’s already the best position. Economies all around the world, particularly the leading industrialized countries are on the verge of sinking, if they aren’t already. In a nutshell, jobs started going down, credits tightened and consumer spending hit an all-time low. More than 160,000 jobs were lost within the year and consequently, production as well as consumer spending followed the trip downward. Recession may still be the object of debate right now among economists and analysts but while recession is not yet official, the fact remains that the economy is turning its head in that direction.

The economic crisis has reached global level. It’s not just about the United States anymore. The British economy is also looking at a grim road ahead after stalling in the second quarter. According to The Economist, GDP shrank in Germany, France and Italy; three of the largest countries generating stable income every year. In the other side of the world, the Tokyo Nikkei Index slumped to a five-year low while all other Asian markets experienced serious losses.

The fear of recession has gotten so great that consumers have begun to cut a great deal of their spending. A new report states that America’s disposable income fell at an annual rate of 8.7 percent in the quarter. People are spending less and less on products like furniture, cars, clothes and practically everything else. If consumers are gripped by the fear of recession, businesses and investors are likewise heavily affected by the downturn of events. SME owners choke on how stringent the process of banks in providing loans have become because of the financial crisis. They are now left with no other choice but to cut down on spending and halt hiring new employees.

The risks are high for businesses and nobody wants to move forward. All clients are mandated to cut down unnecessary costs or non-cost effective functions as a response to the financial crisis looming over the global economy. VONCORE Global Workforce Solutions can help small and big companies in cutting costs by providing a global workforce fully customized to suit specific needs.

Outsourcing is the key that makes growth possible in this time of economic unrest. The revenues the Philippines get from the Business Process Outsourcing (BPO) industry has been growing within the past years and is projected to grow up to 40% within the next two years. The Philippines is a sought-after destination for outsourcing because of the quality of the workforce and the resemblance of their culture to Western culture. The Philippines provide a flexible workforce that enables SME owners to maximize their income without getting caught up in the global economic recession scare.

As appealing as this option may sound, the whole concept of offshore outsourcing is intimidating for small companies that have a lot more to lose than to gain. This is precisely the reason why a customized workforce is an effective route to success. Flexibility is the key to stabilizing business in a volatile economy.

VONCORE Global Workforce Solutions is a company that has a long history of providing flexible, customized services. Small businesses now have the choice and the power to move forward with a truly customized workforce designed to suit their specific needs. Control in mitigating costs through employment of function specific services is made possible for small and medium-sized companies.

The basic requirement of offshore outsourcing service is communication and customer interface. VONCORE recognizes and understands the individual needs of a company and treats every client as distinct and unique. This mindset provides results that are customized to every distinct client’s needs without jeopardizing the major functions of a business venture.

Analysts say that the economic conditions that will be taking place in the next couple of months would be the toughest the world will be able to witness since the last financial crisis roughly a decade ago. However, most Asian countries will hold strong. The Philippines is one of those countries. Outsourcing will be a robust industry keeping the waves from crashing onto the shore and VONCORE is the best boat that would take your business across the economic storm.

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VONCORE specializes in developing customized KPO solutions for businesses of all sizes. Working with our clients as a true partnership, we develop off-shore teams that function as a full time department and extension of your business operation.