What is a Nearshore Team?
A nearshore team is a group of professionals who are located close to a company’s home country but not necessarily part of that country itself. The term “nearshore” refers to the fact that these teams are often located in countries within a short distance of their home countries, such as Mexico, Guatemala, and the Philippines.
The Benefits of Having a Nearshore Team in the Philippines
There are several benefits to having a nearshore team in the Philippines:
- Cost Savings: One of the primary reasons businesses outsource tasks to nearshore teams is to save money. The cost of labor in the Philippines is much lower than in developed countries, which means that companies can save a significant amount of money by outsourcing certain tasks to Filipino professionals.
- Time Zone Advantage: The Philippines is located in the Asia-Pacific region, which puts it in a time zone that allows businesses to outsource tasks 24/7. This means that companies can have their nearshore team working on tasks even when they are sleeping or busy with other responsibilities.
- Language and Cultural Barriers: The Philippines has a large English-speaking population, which makes it easier for businesses to communicate with their nearshore teams. Additionally, Filipinos have a strong cultural understanding of Western business practices, which helps to ensure that tasks are completed to the company’s specifications.
- Skilled Workforce: The Philippines has a highly skilled workforce, with many professionals having degrees from top universities and extensive experience in various industries. This means that businesses can find the talent they need to complete specific tasks or functions.
- Time Zone Difference: The time zone difference between the Philippines and other parts of the world can be an advantage in certain situations. For example, if a business needs to have a task completed quickly, they can work with their nearshore team during their working hours and then take over the project during their own working hours.
Case Studies and Personal Experiences
To illustrate the benefits of having a nearshore team in the Philippines, let’s look at a few real-life examples:
XYZ Company
XYZ is a marketing agency based in the United States that works with clients all over the world. They have a nearshore team in the Philippines that handles tasks such as social media management and content creation. By outsourcing these tasks to the Philippines, XYZ was able to save money on labor costs and find a skilled workforce that could complete their projects to the company’s specifications. Additionally, the time zone difference allowed XYZ to have their nearshore team working on tasks during their own working hours, which helped to ensure that deadlines were met.
ABC Corporation
ABC is a software development company based in Canada that works with clients all over the world. They have a nearshore team in the Philippines that handles tasks such as software development and testing. By outsourcing these tasks to the Philippines, ABC was able to find a highly skilled workforce that could complete their projects to the company’s specifications. Additionally, the time zone difference allowed ABC to have their nearshore team working on tasks during their own working hours, which helped to ensure that deadlines were met and that the software was delivered on time.
DEF Company
DEF is a financial services company based in Australia that works with clients all over the world. They have a nearshore team in the Philippines that handles tasks such as data entry and research. By outsourcing these tasks to the Philippines, DEF was able to save money on labor costs and find a skilled workforce that could complete their projects to the company’s specifications. Additionally, the time zone difference allowed DEF to have their nearshore team working on tasks during their own working hours, which helped to ensure that deadlines were met and that the data was entered correctly.
Research and Experiments
There is a wealth of research available on the benefits of outsourcing tasks to nearshore teams. One study conducted by Deloitte found that companies that outsource tasks to nearshore teams can save up to 30% on labor costs compared to hiring local employees.