Extension Corporation was founded in the midst of the global financial crisis. Responding to rapidly changing circumstances in their US And European-based businesses, the founders looked for a way to significantly lower costs while maintaining the momentum gained in the years leading up to the economic meltdown. The search led them to the Philippines, one of the leading countries in the world that renders business process outsourcing or BPO services.
Establishing an operational base in Makati, the commercial heart of Manila in the Philippines, the founders harnessed the strategic strengths of the Philippine economic environment and the low cost business environment. The reasons are simple:
- Everyone speaks English – from taxi drivers to street vendors, English is the dominant language. The culture is highly westernized.
- The labor pool is highly educated and trained in US style educational institutions. Undergraduate qualifications are the norm and many have postgraduate qualifications.
- Many US Fortune 500 companies have established operations there so the labor pool is trained to meet US expectations.
- Highly motivated workforce with flexible expectations that is prepared to work in the same time zone as the US and Europe.
- Manila is modern, clean, safe and easy to get around.
- The Philippines has a stable economic and political climate.
- Strong banking system that showed tremendous resilience in the financial downturn.
- Outsourcing to Philippines has significantly lower costs. Up to 80% savings on the equivalent US based operations.
- Outstanding communications platforms.
After successfully establishing operational teams in Manila, the founders decided to offer the same opportunity to other companies run by their entrepreneurial friends in the United States, Australia and Europe so they could also take part in the lower cost benefits and highly motivated workforce that the founders had developed. This became the genesis of Extension Corporation.
Extension Corporation has expanded its operations from rendering BPO services to recruitment services and it has now opened its doors to consulting services.