Wednesday, April 13, 2011

The Future of Virtual Assistance Industry

Business Process Outsourcing (BPO) is an act of assigning a task or responsibility using a third party. The most common BPO service is called virtual assistance.

What’s in store for virtual assistance? Maybe the crystal ball can help.
In it, virtual assistants are contracted to do specific tasks on a company’s behalf. Companies that are hiring virtual assistants are trying to save not only money but also other resources, such as time. Hiring regular staff to do the tasks means having to pay for taxes, benefits, holiday pay, office space and equipment.

Business exists to make profit, and hiring a virtual assistant is one way to save more money - meaning more profits. Because of the cheaper costs of living in India and the Philippines, they are the leading providers of virtual assistance in the world. Fortunately, the difference in the quality of work is not noticeable compared to hiring an onsite staff.

There are a lot of virtual assistant tasks and services that are offered by virtual assistants and are very varied.

As we all know, India, Philippines and China are the top countries wherein you can find the most virtual assistant companies. The virtual assistant industry in these countries is growing, adapting to change and updating their virtual assistant on the latest about outsourcing industry.

As a part of the business industry, virtual assistance is doing well year-by-year. They are now experiencing an impressive growth of about 20%  in terms of Annualized Contract Value in 2011 according to the 2011 predictions of the Everest Research Institute on Finance and Accounting Outsourcing.

With these bright predictions in the virtual assistant industry, 2011 is going to be an exciting year not only for India and the Philippines but also globally. As virtual assistants, they must be prepared and be updated on the latest trends about internet marketing and what is going globally. They must not wait for the opportunity to come and must grab it to get ahead.


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