FAQ.ph

FAQ.ph is where you can read interesting facts, answers and frequently asked questions about the Philippines, its places, events and people.

  • Home
  • Travel
  • History
  • Society
  • Business
  • Politics
  • Technology
  • Lifestyle
  • Entertainment

7 Essential Soft Skills to Develop for a Managerial Position

September 10, 2024 By FAQ Leave a Comment

Foto von Scott Graham auf Unsplash

When you think about what makes a standout manager, technical expertise might be the first thing to come to mind. Of course it’s important for most managers to be masters of their respective fields, but in truth, it’s actually the soft skills—i.e. the interpersonal and intrapersonal abilities—that often set great managers apart.

Soft skills refer to the intangible, non-technical abilities that help someone interact effectively with others and lead them through the various complexities of the workplace. If you’re eyeing management jobs in the market, for example in a web design or SEO agency, having soft skills will not only help you get the position you want but also allow you to lead, motivate, and connect with your team on a deeper level.

Developing the following skills can make the difference between being just a manager and being a leader who inspires positive change:

1. Communication

Communication is at the heart of effective management. As a manager, you’re the bridge between your team and higher management, so you need to be able to communicate clearly to ensure that everyone is on the same page. This is a critical soft skill to have no matter if you’re explaining a new project, giving feedback to a subordinate, or resolving a misunderstanding.

To handle these situations successfully, it’s a must to practice active listening and seek feedback from others on how well you convey your ideas. It would also be good to engage in regular conversations with your team and try different methods of communication, such as written reports or verbal presentations, to see what works best.

2. Emotional Intelligence (EQ)

Being able to understand and manage your emotions is another important skill when you’re handling your own team. You need to have a high emotional intelligence (EQ) to be able to build strong relationships with the people you work with.

A manager with high EQ would recognize the signs of a team member who is struggling with a personal issue, for instance. They are also more likely to approach the situation with empathy and offer support—two things that can help the team member feel valued and strengthen their trust, both between you two and within the team.

Though some managers may be gifted with naturally high EQs, remember that it’s possible to enhance your emotional intelligence through practice. In that sense, you should think of your EQ as something to develop just like you would any other skill.

Start by reflecting on your own emotions and how they affect your interactions. Then, try to practice empathy by putting yourself in others’ shoes and actively considering their feelings and perspectives during conversations. It may take you some time to improve upon this soft skill, but the payoff will benefit both you and everyone you’ll work with in the long run.

3. Problem-Solving

People in management positions are often faced with challenges that require quick and effective solutions. Let’s say that a project is running behind schedule due to unforeseen issues. In these situations, managers are expected to be able to analyze the situation, consider sound alternatives, and implement a solution that can quickly prevent a minor setback from becoming a major problem.

Strong problem-solving skills will enable you to weather through such hurdles with confidence. You can develop this skill by, first and foremost, approaching challenges with an open mind and breaking down complex issues into more manageable parts. It would also be a good idea to regularly engage in exercises that require creative thinking and brainstorming, such as completing puzzles or scenario planning, so that you can constantly level up your problem-solving skills.

4. Time Management

Managers are also expected to balance multiple responsibilities while ensuring that their deadlines are met. To successfully meet this expectation, you need to have excellent time management skills. This means being able to set priorities, delegate tasks appropriately, and maintain a balance between achieving your short-term goals versus your long-term goals. In addition to developing your discipline and speed, you can improve this soft skill by learning how to use planning tools like calendars and task management apps to your advantage.

Once you’re tasked with overseeing a project with a tight deadline, you must allocate time for planning, execution, and review, all while managing your regular duties. But if you can truly become a master of time management, you’ll be considered an invaluable asset to your company for your ability to engineer a less stressful work environment for both yourself and your team.

5. Adaptability

In today’s hypercompetitive business landscape, adaptability is more important than ever. As a manager, you need to be flexible and open to change, be it adjusting to new technologies or to shifting priorities in your workplace. Building up the soft skill of adaptability will enable you to smoothly and effectively lead your team through transitions and maintain productivity and morale, even in the face of (often frightening) change.

Develop adaptability by actively seeking out new experiences that push you out of your comfort zone. It’s also a must to stay informed about new trends and evolving best practices in your industry so that you can adjust your strategies or approaches as needed.

6. Decision-Making

Effective decision-making involves critical thinking, the ability to properly assess risks, and the ability to make necessary calls even in the face of high pressure. All good managers need this soft skill, as they are often required to make tough decisions that can impact both their immediate team and the organization as a whole.

To perform well in this position, you’ll need to make a habit of gathering relevant information before making choices and considering the potential outcomes. Practice making decisions under pressure as well through role-playing scenarios or by reflecting on past decisions to identify areas for improvement. Doing so will eventually make it easier for you to choose according to what aligns with your organization’s goals and the well-being of your team.

7. Conflict Resolution

Conflicts are inevitable in any workplace, even a healthy one. As a manager, your ability to resolve them will be key to your professional development. Conflict resolution skills involve mediation, active listening, and finding common ground. It can be especially tough to build these skills in stressful situations, but a manager who can remember that conflict isn’t the end of the world will be a long-term asset to any company.

Whenever a disagreement arises, help resolve it by facilitating a conversation that can help opposing parties understand each other’s perspectives and reach a compromise. Managing conflicts in this manner will help you maintain a positive work environment and prevent small issues from escalating into larger, more complex problems.

Again, soft skills can be natural talents to some, but to every professional who wants to reach a managerial level in their job, they must be thought of as things to be learned, practiced, and continually developed. As you grow in your career, make a conscious effort to strengthen these skills, and you’ll be well-equipped to make a significant impact on any organization you work for.

8 Best Product Sourcing Practices for SMEs

December 20, 2023 By FAQ Leave a Comment

Foto von Cova Software auf Unsplash

Effective product sourcing is a cornerstone of sustainable growth and operational success of many small- and medium-sized enterprises (SMEs). Connecting with the right suppliers shapes the very foundation of a resilient and thriving business. While it can be a challenge to identify and establish relationships with well-matched vendors, it’s possible to achieve such an objective through a nuanced understanding of the market, meticulous vetting, and proactive networking.

Product sourcing is also a key part of the larger inventory management process, which involves overseeing the acquisition, storage, and utilization of a business’s goods or materials to ensure optimal levels, allowing it to minimize costs and meet customer demand efficiently. Adopting modern POS (point of sale) devices that seamlessly integrate with the business’s inventory management system further streamlines operations. These systems, which can be sourced from top any POS supplier Philippines’ businesses trust, offer real-time updates on stock levels, sales, and customer preferences, providing businesses with valuable insights to make informed inventory acquisition decisions.

As businesses navigate the complexities of global markets, staying informed about industry trends and maintaining flexibility in supplier relationships becomes crucial for adapting to changing demands and preserving competitive edge. Here are just some of the strategies that SMEs can apply to find suppliers that offer the exact products and services they need to grow their operations.

Attend Trade Shows and Exhibitions

Industry-specific trade shows and exhibitions present businesses the chance to connect with suppliers that can meet their specific requirements. Enterprises that are in need of specialized products or materials can explore these events to discover new and innovative offerings. Networking at such venues not only provides direct access to potential suppliers but also allows for firsthand product assessments and negotiations. Meeting suppliers in person also allows SME owners to gain insights into the supplier’s commitment to innovation and to meeting industry trends and consumer demands.

Use Online Directories and B2B Platforms

Aside from attending events in person, enterprises can leverage the convenience and vast reach of online directories and B2B platforms to streamline their product sourcing process. Utilizing online platforms enables these SMEs to quickly and easily compare products, prices, and customer reviews. In addition, these directories often provide detailed information about each supplier, including certifications, production capabilities, and product catalogs. SME owners can use these resources to identify potential suppliers, initiate communication, and make decisions based on the comprehensive data available to them.

Recognize the Value of Networking

Building a strong professional network is a valuable asset for SME owners seeking reliable suppliers. Networking can take place both online and offline and can be carried out by participating in industry events, joining chambers of commerce, and taking part in online communities. Engaging with other business owners and industry professionals allows enterprises to gather recommendations and referrals and gain insights into the reputation and performance of potential suppliers.

Additionally, participation in industry associations or local business groups can lead to introductions and partnerships that may not be easily accessible through other sourcing methods. By actively taking part in networking opportunities, enterprises can tap into a collective knowledge base and establish connections that contribute to their long-term success.

Conduct Supplier Audits

To ensure the reliability and quality of potential suppliers, enterprises should consider conducting thorough supplier audits. These audits can involve on-site visits and inspections to assess a potential supplier’s capabilities, facilities, and quality control measures. Physically inspecting the production process and facilities allows SME owners to immediately identify any potential issues that may impact product quality or delivery timelines. Supplier audits play a crucial role in establishing trust and confidence in the sourcing relationship, allowing business owners to make well-informed choices based on firsthand observations and evaluations.

Collaborate with Procurement Services

Entrepreneurs who are aiming to streamline the sourcing process can also do so by collaborating with procurement services. These services specialize in connecting businesses with suitable suppliers. At the same time, they can offer insights, negotiate contracts, and ensure compliance with industry standards on behalf of their clients. By outsourcing certain aspects of the procurement process, enterprises can focus on core business activities while benefiting from the expertise and efficiency of dedicated procurement professionals. This collaboration can result in cost savings, improved supplier relationships, and a more streamlined supply chain.

Request for Proposals (RFPs) and Quotations

SMEs can initiate the sourcing process by issuing Requests for Proposals (RFPs) or Quotations (RFQs) to multiple potential suppliers. This approach allows enterprises to clearly communicate their requirements, expectations, and evaluation criteria. By collecting responses from different suppliers, the business can quickly compare proposals, assess pricing structures, and evaluate the overall suitability of each supplier. RFPs and RFQs provide enterprises with a structured framework for decision-making, enabling their owners to make the right choices based on the specific needs of their business.

Evaluate Supplier Reviews and Ratings

Evaluating reviews and ratings on platforms such as Trustpilot or industry-specific review sites can help businesses narrow down their selection of suppliers. These reviews offer insights into the reputation and performance of potential vendors, helping MSE owners make informed decisions. By considering the experiences of other businesses, enterprises can gauge the level of customer satisfaction, product quality, and reliability of each supplier.

Build Relationships with Multiple Suppliers

To mitigate risks associated with disruptions and to enhance flexibility, enterprises should aim to build relationships with multiple suppliers. Relying on a single supplier can expose businesses to vulnerabilities in the supply chain, such as production delays or unforeseen challenges. By diversifying their supplier base, businesses can create a more resilient sourcing strategy. Also, building relationships with multiple suppliers provides enterprises with negotiating power and ensures that alternative options are readily available. This contributes to the overall stability and sustainability of the business.

Finding the right supplier is akin to discovering a business ally—a partner invested in the growth and sustainability of an enterprise. A well-matched supplier not only meets the immediate demands of product sourcing but also contributes to the overall resilience of the business. Through collaboration, SME owners can navigate challenges, capitalize on emerging opportunities, and build a robust foundation for their ventures.

Top Legit & SEC Registered Online Lending Apps in the Philippines

August 15, 2023 By MJ de Castro Leave a Comment

Foto von Angie Reyes von Pexels

Whether you need help to pay your bills, go on vacation, or you’re just cash-strapped and need money urgently, online loans can be a lifesaver.

With just a few clicks on your phone, you can apply for a loan and receive the funds in your bank account within hours.

But with so many online lending apps available in the Philippines, it can be challenging to know which ones are legit. This is where Securities and Exchange Commission registration comes into play.

When a lending app is registered with the SEC, it means that the lending app has been verified by this government agency and they comply with its necessary regulations and guidelines.

On the other hand, dealing with unregistered online lending apps can be risky and poses the risk for exorbitant interest rates and fraud.

Why SEC Registration is Crucial

SEC registration is not just a stamp of approval for online lending apps – it’s also an important step in protecting borrowers from fraudulent activities.

SEC oversees the Philippine corporate sector and supervises over 600,000 active corporations. It also evaluates the financial statements of all corporations registered with it.

Aside from that, the SEC is responsible for supervising and regulating businesses in the country especially when it comes to investor protection, borrower protection, consumer data protection, transparency, integrity and credibility, capital access, compliance with laws and regulations, and many more.

Dealing with a lender who is not registered with SEC can make way for the following issues:

Lack of regulatory oversight which leads to unethical practices and unfair terms

When you deal with an unregistered lender, you are essentially dealing with a company that is operating outside the law.

This means that they may subject you to unethical practices such as hidden fees, high interest rates, and harsh penalties for late repayments.

You could also end up with unfair terms that make it difficult for you to repay your loan, leading to a debt trap.

Frauds/Scams

Frauds and scams are a common occurrence in the online lending industry, and dealing with an unregistered lender significantly increases your risk of falling victim to these scams.

An unregistered lender may offer you an attractive loan package that seems too good to be true, only to disappear with your personal information and funds once you’ve made a payment.

Unscrupulous lending practices

Unregistered online lenders may use deceptive tactics to get you to borrow more money than you can afford to repay.

They may also pressure you into signing up for additional services or products that you don’t need. This will further increase your debt burden.

Lack of transparency

Another risk of dealing with an online lender that is not registered with the SEC is you may not have access to all the information you need to make an informed decision about borrowing money.

This lack of transparency can be frustrating and may leave you feeling taken advantage of.

Subpar data protection

When you apply for an online loan, you are required to provide personal information such as your full name, address, and phone number.

An unregistered lender may not have the necessary safeguards in place to protect your sensitive information. This can make you vulnerable to identity theft.

Unregulated risk assessment

Without SEC registration, unregistered online lenders may engage in unregulated risk assessment, which can result in the approval of loans that borrowers cannot afford to repay.

This can lead to an unsustainable debt burden and put borrowers at risk of defaulting on payments.

Criteria for a Legitimate Online Lending App

Here’s a list of criteria you can use to determine whether an online lending app is legitimate and registered with the SEC:

SEC registration verification

The first step to ensuring that an online lending app is legitimate is to verify whether it is registered with the SEC.

There are various ways to check this. First, you may visit any SEC office.

An easier option is to check whether a company has Primary SEC Registration or Secondary License on the SEC website.

All you have to do is search registered names here. You can also submit an order form here.

Positive user reviews and testimonials

Reviews and testimonials provide insight into the overall customer experience and the quality of service provided by online loan providers.

Look for reviews that are detailed and specific, rather than generic or overly positive. You can check social media pages, forums, and review sites to read customer feedback.

Transparent terms and conditions

When considering an online lending app, review its terms and conditions thoroughly.

Look for transparency in terms of interest rates, fees, repayment schedules, penalties for late payments, or consequences for defaulting the loan.

If the terms and conditions are unclear or too complex to understand, it may be a red flag.

Clear fee structures and interest rates

A legitimate online lending app should have a clear fee structure and interest rates that are transparent and fair.

There should be no hidden fees or charges that are not disclosed upfront. If the interest rates are too high or the fees seem excessive, it may be a sign that the lender is not operating under SEC regulations.

Reliable customer support

Having reliable customer support is crucial when dealing with an online lending app.

Check to see if the lending app has a customer support hotline, email, or chat support to help you with your concerns.

You should be able to reach out to them for assistance and support throughout the loan application and repayment process.

Customer service representatives should be responsive, helpful, and knowledgeable about their services.

Top Legit & SEC Registered Online Lending Apps in the Philippines

Here are the top legitimate and SEC-registered online lending apps that you can trust:

Tonik App

Tonik is a digital banking app that aims to revolutionize the way Filipinos deal with money.

Their lending offers boast a hassle-free and transparent application process with competitive interest rates and flexible repayment terms.

Key features and benefits:

  • Easy application
  • No credit card required
  • High loan amount
  • Fast approval
  • 7-Day Loan Disbursement Guarantee

Interest rates and loan terms:

LoanInterest rateLoan termsLoan amount
Tonik Quick LoanUp to 4.26% add-on rate per month  6, 9, 12, 18, or 24 monthsP5,000 to P50,000
Tonik Flex Loan1.73% to 1.79% monthly add-on rate6, 9, 12, 18, or 24 monthsP20,000 to P250,000
Tonik Big Loan6.99% p.a.Up to 60 monthsUp to P5 million

GCash (GLoan)

If you’re a GCash user, you can take advantage of its online lending service called GLoan.

This is perfect for those who need urgent cash for unexpected expenses or emergencies. This loan has a 3% processing fee.

Key features and benefits:

  • Instant cash
  • Easy approval
  • Low interest rate
  • No hidden charges

Interest rates and loan terms:

LoanInterest rateLoan termsLoan amount
GLoanAs low as 1.59% add-on rate per monthUp to 24 monthsUp to P125,000

Looking for other ways you can borrow money on GCash? Try GGives and GCredit.

HomeCredit

Home Credit is a trusted option for Filipinos looking for a loan, especially first-time borrowers.

What makes this online lending platform stand out is its high approval rate. Home Credit is mostly used for appliances and gadgets, but you can also use it for other personal expenses.

To apply for a loan, simply download the app or apply online.

Key features and benefits:

  • 90% approval rate
  • Fast loan approval
  • Fast disbursal

Interest rates and loan terms:

LoanInterest rateLoan termsLoan amount
Home Credit Cash LoanAs low as 1.83% add-on rate per month  6 to 60 monthsP3,000 to P150,000
Qwarta by Home CreditStarts at 0.13% daily interest rateAmount due 15 days after billing dateUp to P10,000 spending limit

Billease

With Billease, you can easily fill your financial gaps. This financial technology company caters to Filipinos who are in need of innovation products in retail credit.

Through Billease, you can get the financial service they need without opening a bank account.

Key features and benefits:

  • Flexible credit line
  • Access to exclusive features
  • Low interest rate
  • Easy application

Interest rates and loan terms:

LoanInterest rateLoan termsLoan amount
Billease Credit Line3.49% per month  30 days to 12 monthsP40,000 instant credit

Atome

Atome caters to a new generation of mobile-first consumers by giving them better access to flexible payment solutions to help them unlock their goals.

Atome can be used online and in-store across categories such as fitness, travel, fashion, lifestyle, health, and many more.

Key features and benefits:

  • Easy payments with 0% interest
  • Easy sign up
  • Free ATM debit card
  • No minimum income required
  • No annual fee and hidden charges

Interest rates and loan terms:

LoanInterest rateLoan termsLoan amount
Buy Now, Pay Later0%3 monthsUp to P200,000
Atome Credit Card0%3 monthsUp to P200,000
Atome Cash0.9% per day2 months to 12 monthsP5,000 to P50,000

Tips for Using Online Lending Apps Safely

We’ve rounded up some tips to help you stay safe while using online lending apps.

1. Only borrow what you can repay

While the allure of extra funds may be tempting, taking on too much debt can lead to financial difficulties and make it difficult to keep up with payments.

Whenever you apply for an online loan, consider your budget and only apply for loans that you are confident you can repay within the given timeframe.

Be mindful of the interest rates and fees associated with the loan as well.

2. Read the terms and conditions carefully

If anything under the terms and conditions seem unclear or confusing, don’t hesitate to reach out to customer support for clarification.

3. Monitor for hidden fees or charges

Even if an online lending app seems to have transparent terms and conditions, monitor your account for any hidden fees or charges that may appear over time.

This will help you stay on top of your finances.

4. Ensure data privacy and security measures are in place

Before applying for a loan through an online lending app, ensure that they have adequate measures in place to protect your personal information.

Look for secure encryption technologies and data protection policies that comply with industry standards.

If you have any doubts about the app’s security, it’s best to avoid it altogether.

5. Check for regular updates and reviews

Regularly check for updates and reviews on the online lending app you are using.

This can help you stay informed about any changes in terms and conditions, interest rates, or fees. It can also help you gauge the overall customer experience and see if there are any red flags that you may have missed before.

How to Run Successful Flash Sales and Limited-Time Offers Online

August 8, 2023 By FAQ Leave a Comment

Foto von Artem Beliaikin auf Unsplash

Grabbing your customers’ attention online requires tried-and-true strategies, and nothing quite captures an impulsive buyer’s eyes and wallets than putting up a “Flash Sale” or “For a Limited Time Only!” sign on your website or product page.

Flash sales and limited-time offers have emerged as potent tools for businesses online, whether you’re located in the United States or the Philippines. Amazon, for instance, has their Lightning Deals, which typically lasts for 2 to 6 hours. Meanwhile, the Philippines’ largest online ecommerce platforms, Lazada and Shopee, have their monthly Payday and Flash sales. These promotions are designed to create a sense of urgency and encourage swift decision-making. If done properly, they prompt buyers to add items to their cart without previously intending to do so, boosting your sales in record time.

This article sheds some light on why your business should provide flash sales and limited-time offers for your customers. It also covers key strategies and best practices to maximize your success.

Defining Flash Sales and Limited-Time Offers

Flash sales are time-bound promotional events during which products or services are offered at significantly discounted prices. They typically last for a few hours or even an entire day in some cases, creating a sense of urgency and excitement among customers. On the other hand, limited-time offers are short-term promotions that run for a specific duration, often a few days to a week, with special pricing or added value benefits.

Whether it’s a flash sale or a limited-time offer, these kinds of deals are the best opportunities to promote your products and services locally and abroad. With low-cost and convenient logistics providers, shipping from US to the Philippines is hassle-free. 

Benefits of Flash Sales and Limited-Time Offers for Online Businesses

1. Boosting Sales and Revenue. One of the primary benefits of flash sales and limited-time offers is their ability to drive immediate sales. And due to the time-sensitive nature of these promotions, your customers are compelled to act quickly, resulting in a surge in transactions and revenue.

2. Creating a Sense of Urgency and FOMO. Fear of Missing Out (FOMO) is a powerful psychological trigger. You can capitalize on this by creating a sense of urgency with limited-time offers, prompting your customers to make purchasing decisions swiftly before the opportunity disappears.

3. Clearing Excess Inventory. If your business has surplus inventory, discounted sales offer an effective way to clear stock quickly. By providing attractive discounts, your business can move products that might otherwise stagnate.

4. Attracting New Customers and Expanding the Customer Base. The excitement and buzz generated by time-limited promotions can attract new customers to your online store. Once acquired, these customers can become repeat buyers with the right marketing strategies.

5. Building Customer Loyalty and Engagement. Offering exclusive access to loyal customers during flash sales fosters a sense of appreciation and loyalty. Engage with your customers through personalized offers to enhance the overall shopping experience and to strengthen your customer-business relationship.

Key Strategies for Successful Flash Sales and Limited-Time Offers

1. Define Clear Objectives and KPIs. Begin by setting clear goals for your flash sale or limited-time offer. Are you aiming to increase sales, clear inventory, or attract new customers? Define key performance indicators (KPIs) to measure the success of your promotion.

2. Segment Target Audience for Personalization. Tailor your offers to specific customer segments based on their preferences and buying behavior. Personalized promotions resonate better with customers and increase the likelihood of conversion.

3. Create Genuine Scarcity and Urgency. Emphasize the limited availability of the products or services on offer. You can use countdown timers, compelling headlines, and persuasive calls-to-action to instill a genuine sense of scarcity and urgency.

4. Utilize Multiple Marketing Channels. Promote your flash sale or limited-time offer across various marketing channels. To reach a broader audience and increase visibility, employ email marketing, social media, paid advertising, and website banners.

5. Optimize Website Performance for Increased Traffic. Ensure your website can handle the surge in traffic during the promotion. Perform stress tests and optimize your website to prevent crashes and slow loading times that can frustrate potential customers.

6. Leverage Mobile Optimization for Mobile Users. With the increasing number of mobile shoppers, optimize your website and promotions for mobile devices to capture mobile users’ attention effectively.

7. Offer Exclusive Access to Loyal Customers. Reward loyal customers with early access to the sale or special offers. This exclusivity enhances customer loyalty and encourages repeat business.

8. Highlight Social Proof for Credibility. Showcase positive customer reviews and testimonials to build trust and credibility. Social proof reassures potential customers about the value of the offer and encourages them to make a purchase.

9. Upsell and Cross-sell to Maximize Sales Potential. Use sales and limited-time offers as an opportunity to upsell customers with relevant add-ons or cross-sell complementary products or services.

10. Monitor and Analyze Performance for Continuous Improvement. Track and analyze key metrics such as conversion rates, customer acquisition costs, and overall revenue generated. Use these insights to refine your future flash sales and limited-time offers for even better results.

Flash sales and limited-time offers are effective sales and marketing tactics that can significantly impact the success of your online business locally and abroad. This has been proven many times over with famous sales events such as the Black Friday Sale after Thanksgiving in the US and the Philippine’s monthly online flash deals.

When planned and implemented thoughtfully, these time-limited promotions can boost sales and attract new customers. Aside from that, your company is more likely to retain loyal customers who are appreciative of the discounts afforded to them. And with multiple successful promotions, your business can steadily gain ground against the competition and be the brand leader it deserves to be.

7 Different Payment Methods Filipino Online Business Owners Can Explore

July 5, 2023 By FAQ Leave a Comment

Foto von naipo.de auf Unsplash

Before the widespread availability of secure digital wallets like Maya (formerly PayMaya), the local e-commerce scene was hampered in its growth potential, as not all websites were able to offer payment methods that were accessible to potential customers. As a result, websites were often not much more than online catalogs that customers would check to see what was available before they headed out to a brick-and-mortar store.

Of course, things are quite different today. Filipino consumers now have more payment options available to them than ever before. Unfortunately, not all online businesses offer the payment methods their target customers prefer. If a business is not able to offer these methods on its website, they’re likely missing out on growth opportunities in an important e-commerce channel.  In this article, we’ll look at a few important payment methods that Filipino businesses can explore to better match the needs of their customers.

1) Secure Digital Wallets

Digital wallets (also called e-wallets or virtual wallets) from providers such as Maya and GCash are in a position to become the country’s dominant online payment method very soon. These platforms enable users to load credits into a secure online account from their banks, remittance services, or other methods. These credits can then be used for quick and—most importantly—secure online payments. 

Given the growing popularity of digital wallets, businesses should choose an online payment processing company that seamlessly facilitates them. Today, solutions like Maya Checkout are making it easy for businesses to expedite payments from a variety of popular and emerging digital wallets, credit and debit cards, and even virtual payment cards.

2) Bank Transfers

Today, direct bank transfers are a reliable and widely accepted payment method in the Philippines, often used for bills payments and remittances. In e-commerce settings, they’re often preferred by individuals who place more trust in traditional financial institutions as well as those who want to avoid sharing credit or debit card details online. Some individuals also believe that bank transfers may offer them more control of their finances. 

Online businesses that offer direct bank transfers as a payment option can cater to customers who value security and financial control. However, it’s worth noting that significant numbers of Filipinos remain unbanked. Also, even individuals with bank accounts may prefer other payment methods. Given this, businesses that target Filipino consumers should also offer a variety of other settlement options.

3) Credit Cards

Credit card penetration is relatively low in the Philippines, with just 8.1% of Filipinos owning a credit card at the end of 2021. However, with the country’s increasing prosperity, adoption is seen to grow as more Filipinos start to qualify for them. Additionally, offering this method is usually desirable because individuals who do own credit cards may make more frequent purchases. 

With these things in mind, Philippine businesses should consider accepting credit card payments, especially when pursuing high-value market segments. By leveraging secure internet payment solutions like Maya Checkout, businesses with existing websites can readily accept card payments, ensuring a smooth and secure checkout process for customers. Alternatively, businesses that don’t have their own e-commerce sites can also accept card payments through Payment Links—another payment processing service from Maya that only requires them to send a payment link to their customers’ preferred messaging app.

4) BSP National QR Code Standard (QR Ph)

In early 2021, the Bangko Sentral ng Pilipinas (BSP) introduced the National QR Code Standard to promote interoperable and secure person-to-person and person-to-merchant transfers. If you’re not yet using QR codes to accept payments, create your own now! Businesses like yours can readily accept QR code payments from various e-wallets and mobile banking apps, while your customers can enjoy a convenient and contactless payment option.

5) Buy Now, Pay Later (BNPL)

The buy now, pay later (BNPL) model has slowly gained traction in the Philippines, offering customers the flexibility to make purchases and pay for them in installments. Collaborating with BNPL providers allows online businesses to attract customers who prefer deferred payments, potentially increasing conversion rates and overall market penetration.

6) Over-the-Counter Payments

While this method has become less popular in recent years, many customers still prefer to pay over the counter at physical locations like banks, payment centers, convenience stores, or remittance outlets. And although these payment methods are no longer as important as before, local businesses that want maximum market penetration should still consider offering this method, especially because some customers are not yet as digitally savvy and may prefer to pay using cash due to security concerns or because they have limited access to electronic devices.

7) Cash on Delivery (COD)

Cash on Delivery remains popular in the Philippines, especially for more traditionally minded customers who prefer to pay in cash. COD is often preferred by shoppers who are concerned with online scams, as this method can allow them to verify a product’s quality and authenticity before payment. It’s also worth noting that for the sizable number of Filipinos who are unbanked, do not have a secure digital wallet, or live far from remittance centers, COD may be the only payment method available to them.

Offering COD is also important as it allows online businesses to build trust. This is true for the Philippine market where instances of consumer fraud are still commonplace. When skeptical customers see that an online store offers both COD and favorable return policies, it may help push them toward making a purchase, even through other payment methods.

Conclusion

Filipino shoppers have always been diverse, and this has not changed with the recent rise of Philippine e-commerce. Offering a range of appropriate payment methods is vital for online businesses to be able to drive conversions and build trust in their respective target markets. By thoroughly understanding the preferences of their target markets and choosing the right mix of

Air Cooler or Air Conditioner: Which Is the Best for Your Small Business?

April 26, 2023 By FAQ Leave a Comment

Foto von Kévin JINER auf Unsplash

The Philippines is a tropical country, so the summers here can be quite brutal. Aside from the intense heat, many Filipinos also have to deal with high levels of humidity. The latter can hinder the body’s ability to cool itself and leave you feeling sticky and overheated for a good portion of the day. This can be bad for business, as heat is a potent productivity killer. Overheated employees may find themselves with low energy levels that make it difficult to focus on their work, while uncomfortable customers will not likely wish to stay for too long inside a warm store. Thus, investing in reliable cooling solutions for your office and other commercial spaces can be a beneficial move for your business.

There are plenty of options that you can explore for cooling your office or store this summer, and one of these is purchasing appliances that are dedicated to maintaining the temperature in a room. Often, this choice comes down to choosing between an air conditioner and an air cooler. While both are effective cooling solutions, the best option is the one that matches your business needs. Here’s how you can see if it makes more sense to buy air cooler online or if you’re better off spending your money on an air conditioner. 

Understanding How Air Coolers and Air Conditioners Work

Before setting your heart on an air cooler or an air conditioner model, it’s important to know exactly how these appliances work. An air cooler may seem very similar to an aircon, but there are a few key differences in how they function. While they share the same end goal—that is, to bring down the indoor temperature—these two appliances achieve this effect in different manners.

This is quite obvious by observing the key components of an air cooler, which is also sometimes called an evaporative cooler. The appliance has three main components: a fan, a water tank, and an absorbent pad. The air cooler blows air through the water-soaked pad to reduce the temperature in the room. This works as intended, but it can also raise the humidity levels in enclosed spaces. In the long run, the rising humidity levels can make the room feel stickier and hotter than it already is.

Meanwhile, air conditioners are presented as more sophisticated devices. There are different makes and models of air conditioners, but in general, this appliance features an evaporator coil, a condenser coil, a compressor, and an expansion valve. The compressor pressurizes the liquid refrigerant, or the fluid that readily absorbs heat from the environment, while the expansion valve regulates the flow of the refrigerant into the evaporator.

The evaporator and compressor coils, respectively, receive the refrigerant and facilitate the transfer of heat. The cool side of the air conditioner features the evaporator and a fan that blows cooled air into the room, while the other components except for the expansion valve are usually found on the hot side of the appliance.

A Quick Look at the Pros and Cons of Each Appliance Type

Apart from the differences in how they operate, there are also different pros and cons to investing in either an air conditioneror an air cooler. Here’s a quick overview of what to expect from each appliance, so you can better determine the right option for your needs:

Air Cooler Pros and Cons:

  • It’s more affordable compared to air conditioners.
  • It’s easy to install, clean, and maintain.
  • It consumes less energy and is cheaper and more eco-friendly to run.
  • Its cooling capacity is limited to reducing only 5 degrees Celsius from the original temperature.
  • Its water tank must be topped up once it runs out of water.
  • It increases humidity levels as it cools the room.
  • It requires continuous air circulation in the room to eliminate the excess humidity.

Air Conditioner Pros and Cons:

  • It is capable of cooling a room down to as low as 14 degrees Celsius.
  • It can reduce humidity in the room as it brings down the temperature.
  • It can be a challenge to install if the room doesn’t have a built-in slot for a window-type aircon, or if you choose a split-type aircon that requires professional installation.
  • It can be quite pricey, depending on the features of the model.
  • It consumes more electricity compared to air coolers.
  • It requires regular professional cleaning and maintenance.
  • The use of certain refrigerants can contribute to climate change.

If you have the budget and you want to create a cool and comfortable indoor environment that allows people to focus on their tasks, then the air conditioner is a clear option. With such an appliance in your shop or office, you can rest assured that everyone can feel relaxed and unbothered by the heat, even at the peak of the summer season.

If you have an indoor space with plenty of windows for ventilation, however, then an air cooler may be a more practical choice. It should be an adequate solution for keeping a cool breeze circulating in the area without raising your energy consumption. Keeping these considerations in mind will help you make the best possible purchase for your business.

4 Concepts to Learn Before Starting an Online Business

March 24, 2023 By FAQ Leave a Comment

Bild von Gerd Altmann auf Pixabay

To veteran entrepreneurs and rookies alike, the prospect of starting an online business is an appealing one. When you’re using the internet as your main platform, you’ll have more chances to market your brand to a global audience, and you may gain a larger consumer base as a result. Managing an online business also entails a lower operating cost compared to a physical store, since you don’t necessarily have to rent an office or invest in office equipment to get started. That makes it a particularly low-risk and beginner-friendly type of venture compared to a brick-and-mortar business.

All the same, starting an online business comes with its own challenges. For one thing, you may be competing with thousands of other businesses in a similar niche as yours, so you might have trouble keeping your brand visible in the search engines. And for your online business to really take off, you’ll also need to invest in a working website that’s not only acceptable to your online users, but to search engines as well.

Fortunately, with the right business mindset and the help of companies that can fine-tune your brand’s online presence, you can expect your online business to flourish in the digital realm. Here are four concepts you should learn to give your online business a significant boost in performance and revenue.

The Importance of Creating, Optimizing, and Maintaining a Good Website

You can’t have an online presence without a good website, as it’s where your targeted audience will be able to find you in spite of the expansiveness of the World Wide Web. It’s not enough to create an aesthetically pleasing website, however; a good website must respond well and be easily accessed by both online users and search engines. That’s why it’s a good idea to learn about the concept of search engine optimization (SEO) and work with a trusted company that’s known for offering web development and SEO services Philippines-based and international businesses can trust.

SEO companies have the knowledge and resources to optimize your website. They can handle the on-page (everything that’s directly within your website) and off-page (actions taken outside of your website that can impact your online presence) aspects of your website so that it can rank high in online searches and reach your targeted audience. It’s also a plus if the SEO company has an in-house web development team. This way, they can create and help maintain your web pages, keeping your website updated, secure, and running smoothly as a result.

No matter what industry or niche you’ll operate in, it’s a must for you to learn about concepts like SEO, the role of aspects like web design and user experience (UX) in bringing customers to your (virtual) doorstep, and how you can leverage your website’s searchability to build your online presence. Once you do, getting word out about your business will be that much easier.

How an Effective Digital Marketing Strategy Boosts Business

Aside from the value of optimizing your website, you should also learn about how providers like SEO companies can come up with effective digital marketing strategies for your business. You should familiarize yourself with strategies like creating tailored content for your audience. These will make it so that your targeted audience will be more inclined to visit your website and purchase your products or engage with your services often.

A digital marketing campaign that truly suits your business will also allow you to be one step ahead of your peers. If your brand can stay relevant and be perceived by your audience as an innovative force—even when the competition is tight—you’ll be able to stand out from your peers in a positive way.

Using Social Media to Your Advantage

Social media is a powerful tool for cultivating your online visibility. Creating a social media profile and keeping it active will allow you to get the attention and engagement of thousands of users. If you play your cards right, these thousands could turn into tens of thousands or even millions.

However, having a noticeable and verifiable presence on social media takes time. It’ll also require you to use thoughtful strategies to increase brand awareness. Some of the most viable ones include opting for paid social media campaigns, properly incorporating social media trends into your posts, and posting interesting and relevant content. Spamming or being too “hard-sell” on social media won’t cut it, and if you lean on these approaches over thoughtful and honest social media marketing, it could backfire and decrease trust and interest in your business.

How to Do Basic Financial Management

If it’s your first time handling an online business, you might be surprised at the amount of money you can eventually make once your business stabilizes. Although having sufficient cash flow is a sign that your online business is doing well, you can lose revenue if your money isn’t managed properly.

Not knowing how to budget your business expenses correctly can cause permanent financial damage to your brand. Whatever industry or niche you’re breaking into, it helps to learn basic financial management so that you can allocate the right amount of money into various aspects of your business. This, in turn, will keep your operations going for a long time.

If your online business is experiencing rapid growth, it’s a good idea to hire a financial manager who can manage your brand’s finances. Doing so will help you reduce your financial risk and avoid making costly mistakes in your bookkeeping.

Starting an online business is an exciting venture because it gives you a chance to make your mark in the digital world. If all goes well, you’ll gain both fulfillment and financial stability for yourself and your employees. But in order to achieve that, you’ll still have to make timely and well-informed decisions—just like how you would if you were running an onsite business with more capital. After all, an online business is still a business. 

If you master the four concepts listed above, it’ll be easier to ride out the growing pains of running your own business and gaining a large online following. You’ll also have an easier time working with companies who understand the needs of your online business and who are willing to help you reach your goals. Do right by your new business venture, and do your homework!

6 Things You Should Know about PEZA Zones

August 11, 2022 By FAQ Leave a Comment

Philippine Economic Zone Authority (PEZA)’s Special Economic Zones (SEZs) have been critical in spreading economic growth throughout the country, particularly in the countryside. While it is just one of many SEZ authorities in the Philippines, its legal powers are the most comprehensive in scope, effectively giving it the lead in developing industrial parks and other special facilities.

Here are 6 things you should know about PEZA Zones.

1. PEZA Zones Attract Critical Foreign Direct Investments

PEZA zones were designed from the ground up to attract foreign direct investments (FDIs). Historically, FDI inflow into the Philippines has been limited by a combination of red tape, ownership laws, and the lack of infrastructure. PEZA zones and other special zones and parks were set up as a way for foreign investors to avoid these issues.

The perks offered by PEZA zones include expedited paperwork, relaxed foreign ownership restrictions, and reduced tariffs. Offering these has allowed the Philippines to better leverage its comparative advantage—high-quality labor. This combination of benefits has proved to be a winning one, as PEZA zones now attract thousands of foreign locators each year.

2. 16% Of the Philippines’ GDP Is Generated through PEZA Zones

PEZA zones generate immense value for the Philippine economy. In 2019, about 16% of the country’s GDP was attributed to economic activity generated within special economic zones, mostly managed by PEZA. About 70% of the country’s total exports of commodities were produced in SEZs as well. This all amounted to about USD 60.2 billion in direct economic value in 2019.

The economic merit of these zones was further underlined during the COVID-19 pandemic. These areas continued to be a source of income for the country despite the disrupted global supply chains. This recent event has proven that SEZs are now vital to the country’s stability.

3. They Are Key to Decentralizing Job Opportunities

One unfortunate fact about the Philippines is that there is currently a job equity gap between rural and urban Filipinos. While the cost of living tends to be much lower in the countryside, incomes tend to be disproportionately low as well, preventing individuals from saving, investing, or taking entrepreneurial risks.

Job opportunities in the Philippines are overwhelmingly concentrated in highly developed urban areas like Metro Manila and Metro Cebu. Jobs in these cities tend to be more plentiful, diverse, and better paying than in most other places in the country. This has led to massive urban migration from the countryside, simultaneously creating urban blight and negatively affecting rural job markets.

PEZA zones are now helping slow down this general trend of urban migration. The presence of PEZA zones in smaller regional cities has played a key part in convincing many Filipinos to stay in their hometowns. In most cases, these zones offer very high-quality jobs with better salaries and career advancement prospects than is typical for smaller communities.

4. The Biggest PEZA Zones Are in the Countryside

While there are numerous PEZA zones located within major cities, the largest ones are mostly located in smaller cities and municipalities in the countryside. When they are built in less prosperous areas, these zones are responsible for a large proportion of local economic activity.

Large PEZA SEZs are often located outside of big cities because of the much lower cost of land acquisition in rural areas, which consequently brings down the development cost of industrial parts. Additionally, industrial waste from factories is often easier to manage in the countryside, as waste treatment facilities can be difficult to set up in built-up urban areas.

5. PEZA Zones Boost Surrounding Communities

PEZA zones in the countryside do not operate in isolation. Industrial parks and other SEZs contribute significantly to local economies, wherever they are built. 

The businesses connected to SEZs pay local taxes, generate local business opportunities, and boost local employment. Many of the service and market gaps that may exist in SEZs are often addressed by local entrepreneurs who, in turn, create additional value for the local economy.

Recognition has already been given to the role of industrial parks in boosting communities in the countryside. In 2019, Malacañang’s Administrative Order (AO) 18, “Accelerating Rural Progress Through Robust Development of Special Economic Zones in the Countryside,” was signed, effectively making SEZs an official tool for countryside development.

6. PEZA Zones Spur Domestic Innovation

Over the decades that SEZs have been in the Philippines, these areas have proven critical for vital technology and knowledge transfers. The establishment of foreign businesses in PEZA Zones has helped Filipinos become more familiar with various technologies and methods that were previously unknown or rare in the Philippines.

Many Filipino professionals and entrepreneurs have already created their own startups that leverage these learnings. A high proportion of Filipino entrepreneurs have gotten their start from working for multinationals located in SEZs. It would be hard to overstate the impact that SEZs have had in bringing local businesses to global standards.

PEZA SEZs have been an essential part of the Philippine economic formula for decades. They are a source of jobs, domestic innovation, and economic stability and have helped improve the lives of millions of Filipinos, especially in the countryside. One day, the successes of these zones may even be copied or exceeded in other parts of the country.

6 Practical Money Management Tips for Newlyweds

August 10, 2022 By FAQ Leave a Comment

As newlyweds, you and your spouse will be blending all aspects of your life, including your finances, which means the two of you will be sharing your income, expenses, assets, and liabilities. As such, it’s a good idea to discuss your financial management plan as a couple as early as possible. It’s certainly ideal to talk things through when it comes to money matters since it is one the most common sources of disagreements in the first three years of marriage.

While your household finances isn’t the most romantic topic of conversation out there, it’s a subject that certainly needs to be discussed. It allows you to plot the best ways to handle your money, from paying your bills to managing your savings, all while supporting the lifestyle that you want for yourselves. It also helps you prepare for future plans, like adding new members to your family. 

As you transition from handling your finances independently to doing it as husband and wife, here are six practical money management tips you can take into consideration. 

Buy Household Items Secondhand

When moving into your new home, it can be tempting to purchase brand new household items to welcome your new life together as a married couple. However, getting new furniture and appliances to match your new home can be a costly choice. Unless you have the budget to buy everything brand new, you can consider getting some of them secondhand. It will help you save up money and still furnish your home. 

Additionally, purchasing secondhand is a great way to discover quality items at  lower prices. You’re likely to find a second hand sofa or dining set in good condition at a fraction of the cost that you would typically pay for when you get the set brand new. Moreover, you’re also more likely to stumble upon unique pieces when you buy secondhand, since many of these items are no longer being produced or they may come from faraway places where the original owners lived. Think of furniture and decorative pieces of rare designs, or even custom creations you probably wouldn’t find elsewhere. 

Open a Joint Account for Household Expenses

Having a joint account mainly for household expenses will help you monitor the money that comes in and out of your coffers. You can also use it as your central fund to pay for your common household expenses such as food, rent, utility bills, and others. Sharing a joint account also allows both of you to access the money should you encounter emergencies.

And if you’re wondering about whether or not it’s advisable to keep separate accounts as a married couple, the short answer is “it’s totally up to you.” Many relationship experts and even long-time couples recommend the practice of letting one’s spouse maintain their financial independence while also sharing financial responsibilities.

Talk about Who Pays for What

If you have a two-income household, be sure to define what your monthly contributions will be for the household. You can also discuss how much you’ll give to the joint account monthly, as well as how much you’ll spend, save, and invest. In case you prefer maintaining separate accounts, you can assign certain payments to each other. This can depend on your earnings and if you have any loan obligations to fulfill before getting married.

Some couples assign between them who will manage certain daily expenses. One might be assigned to handle food, utilities, and transportation, while the other might be tasked to make contributions toward the household’s insurance, retirement funds, and investments. This is a practical approach because you get to distribute your household’s financial responsibilities. That said, make sure that these financial responsibilities are distributed equitably.

Set Up a Luxe Fund

Do you want a new smart TV or go on a vacation? Prepare for these non-essential expenses by creating a “luxe fund” and channeling a portion of your income into it. Doing this will allow you to still take care of essential expenses while saving up for the little luxuries you want. Also, it’s a good practice to splurge on dispensable expenses only when you already have enough budget for them. It will help teach both you and your spouse to plan and control your spending.

Build an Emergency Fund

It’s never too early to set up an emergency fund, and you won’t regret doing it. An emergency fund is a stash of money (ideally a separate savings account) that you set aside  in case the unexpected happens, such as a health emergency, a home repair emergency, or a retrenchment at work.

When considering how much of your monthly budget you should set aside for your  emergency fund, you can follow the typical recommendation of stashing away at least 6 months’ worth of living expenses. To do this, you’ll need to set aside 10 percent or more of your gross income each month, and you need to keep saving until you have the amount you need—or more.

If you want to ensure you regularly put money into your emergency fund, you can set up an automatic transfer with your bank or take turns with your spouse putting money into the account every month. If you begin creating an emergency fund now, you can slowly grow it over time, which should give you peace of mind should you encounter any unexpected issues in the future.

Update Your Accounts

Many newlyweds move into new homes after getting married. If you’ll have this kind of arrangement as well, make sure to notify the banks, credit card companies, insurance companies, and investment companies you have accounts with about the change in your address or contact information. You also have to inform these institutions about your change in marital status because the union will have a bearing on your legal entitlements to one another’s financial assets and estates.

When it comes to managing finances, it’s up to you as a  couple to discuss what works best for you. However, if you’re looking for time-tested pieces of advice, make sure to consider the abovementioned tips. These will help you settle in your new life as husband and wife, and they will help you prepare financially for your future. 

Top 10 Best Hospitals in the Philippines

May 28, 2021 By FAQ Leave a Comment

With so many medical facilities in Philippines, it can be it difficult to know which hospital will be the right option for you. Hospitals in both the private and public sectors are typically safe and reliable. Deciding between both is generally a matter of choice, as both systems deliver top-of-the-line medical care.

The largest benefit of going public is the affordability factor. Costs are generally lower than those in private hospitals, as public hospitals are usually subsidized by the government. Public hospitals in Philippines are typically considered to be of a high standard with highly trained medical professionals and world-leading facilities.

In addition to these public hospitals, there are a number of privately run hospitals and centres that do not receive the same funding from government and therefore charge patients directly for services. If ultimate luxury and comfort are what you are after, then chose a private hospital for your treatment. Expect shorter waiting times and a smoother administration and billing process.

If you don’t already have health insurance and get sick, you have to pay the full cost of your medical care.
So make sure you have quality health insurance that covers your medical expenses, including prescriptions.

We have compiled a list of 10 best hospitals in Philippines including options from both public and private sectors.

1. Philippine Heart Center

The Philippine Heart Center is a hospital in Quezon City, Philippines, specializing in the treatment of heart ailments. It was established in 1975 under the Marcos Administration. It ranks as one of the leading medical institutions in Asia for the medical and surgical treatment of heart diseases. The Center admits more than 14,000 patients yearly, of whom more than 3,300 undergo heart surgery.

Aside from offering medical services, the Center is deeply involved in cardiovascular research, training and education and public information. It offers training programs not only for aspiring heart specialists but also for private and government medical practitioners. It engages in various researches on the prevention and control of cardiovascular diseases and undertakes nationwide information programs on the heart and heart care.

Location: East Avenue, Quezon City, Metro Manila

Website: www.phc.gov.ph

Phone: +632 8925 2401

2. St Luke’s Medical Center Quezon City

Considered as one of the best in Asia and renowned the world over, no hospital in the Philippines has gained so much attention over time as St. Luke’s. The hospital has a 650 bed-capacity and also hosts medical equipments such as the 3-Tesla MRI, 1152-slice dual energy CT scanner, PET scanner and Cyclotron. It employs at least 1,700 doctors and about 2,600 non-medical staff.

The St. Luke’s Medical Center in Quezon City is the first hospital in the Philippines and the second one in Asia to be accredited by the Joint Commission International. The hospital first earned the distinction in 2003 and the accreditation has been renewed at least four times. In 2012, HealthExecNews chose St. Luke’s Medical Center as one of the Top 25 Most Beautiful Hospitals in the World.

Location: 279 E. Rodriguez Sr. Ave., Quezon City, Metro Manila

Website: www.stlukes.com.ph

Phone: +632 8723 0101

3. Makati Medical Center

The Makati Medical Center in Manila, Philippines, has been providing top quality care for over 45 years. Their depth of experience and highly regarded reputation make it an excellent option for anyone seeking affordable medical treatment abroad. The Center has a 600 bed-capacity and is known throughout the country as one of the best places to receive treatment for both domestic and foreign patients.

In 2011, Makati Medical Center became the first and only Philippine health institution to be certified with the 4th edition Joint Commission International accreditation and the 4th hospital in the country to be accredited. Also in the same year, Asian Hospital Management Awards (AHMA) gave Makati Medical Center an “A Decade of Achievement” special award. This recognition was given to the top three hospitals who won the most Asian Hospital Management Awards in the 10 years of HMA.

Location: 2 Amorsolo Street, Legaspi Village, Makati, Metro Manila

Website: www.makatimed.net.ph

Phone: +632 8888 8999

4. Asian Hospital and Medical Centre

Founded in March 2002 by Jorge Garcia, MD – an alumnus of the Faculty of Medicine & Surgery of the University of Santo Tomas – Asian Hospital and Medical Center (AHMC) has been synonymous to advance medical facilities that are at par with international standards of medicine. Located in the Filinvest City in Alabang, Muntinlupa City, the hospital has 296 beds and a thousand medical staff who are trained to provide quality and compassionate patient care.

The first hospital in the Philippines designed with a hotel-like ambiance, AHMC believes in creating an environment which ultimately promotes healing, comfort, and care for the patient and their family. It has also been accredited by The Joint Commission in 2013, with a renewal of the accreditation given in 2016.

Location: 2205 Civic Drive, Filinvest Corporate City Alabang, Muntinlupa City

Website: www.asianhospital.com

Phone: +632 8771 9000

5. The Medical City

The Medical City (TMC), the largest healthcare network in the country, is composed of one flagship complex, four provincial hospitals, and over 50 clinics in Metro Manila and in select provinces in the Philippines. The main facility is located on a 1.5 hectare property along Ortigas Avenue in the business district of Pasig City, Metro Manila. It is composed of 115,000 square meters of floor space, and includes two Nursing Towers with capacity of up to 800 beds.

The Medical City Main has been conferred accreditation by the Joint Commission International for attaining and maintaining the highest standards of quality for healthcare organizations. JCI is widely recognized as the most prestigious accrediting body for international healthcare organizations.

TMC has defined for itself the value proposition: “Where Patients are Partners.” This phrase finds its fullest meaning when the patient is viewed not as a problem to be solved or a charge to be cared for, but as a partner in his own health.

Location: Ortigas Center, Pasig, Metro Manila

Website: www.themedicalcity.com

Phone: +632 8988 1000

6. Cardinal Santos Medical Center

Named in the honor of Archbishop Rufino Cardinal Santos, the medical center is a 235-bed tertiary general hospital. Cardinal Santos Medical Center (CSMC) earned its place as a leading hospital in the country that specializes in cardiology, neurosurgery, oncology, and rehabilitation medicine. CSMC is also recognized for its expertise in pediatrics, obstetrics and gynecology, pulmonary medicine, nephrology, urology, and minimally invasive surgery.

CSMC has defined for itself the value proposition: “YOU are family”. At CSMC, every patient is treated like a family member. Each one is guaranteed to experience not just the best of care but the warmth and dedication we give to our own family.

Location: 10 Wilson St. Greenhills West, San Juan City, Metro Manila

Website: www.cardinalsantos.com.ph

Phone: +632 8727 0001

7. Philippine General Hospital

More than most hospitals, Philippine General Hospital (PGH) has become a household word, and rightly so. Administered and operated by globally-recognized top university in the country, University of the Philippines, the hospital can certainly boast of the best and the brightest medical personnel in the region.

As a public hospital, PGH is regarded as the national public hospital of the Philippines, and because of this, it has been known as the hospital of the indigents. PGH has 1,100 beds and 400 private beds, and has an estimated of 4,000 employees to serve more than 600,000 patients every year.

Location: Taft Avenue, Ermita, Metro Manila

Website: www.pgh.gov.ph

Phone: +632 8554 8400

8. Manila Doctors Hospital

Recently acquired by MetroBank Foundation, Inc., Manila Doctors has certainly become a premiere health-care destination inside the country and right at the tourist district of Manila. It was founded in the City of Manila in 1956 by the group of doctors. The hospital is currently owned by the Manila Medical Services, Inc. It provides services for physical examination, cardiovascular check, and oncology unit.

The hospital slogan is “World Class Care Within Your Reach“.

Location: 667 United Nations Avenue, Ermita, Manila

Website: www.maniladoctors.com.ph

Phone: +632 8558 0888

9. University of Santo Tomas Hospital

The University of Santo Tomas Hospital (simply UST Hospital or USTH) is a hospital located at the University of Santo Tomas. Founded as San Juan de Dios Hospital in 1577, UST Hospital is one of the oldest – if not the oldest – hospital in the country. The hospital has two divisions, a clinical teaching hospital that offers inexpensive medical care for indigent patients and a private hospital for patients with financial means, which is partially used to subsidize the clinical division.

The USTH, the base hospital and training facility of students of the University of Santo Tomas Faculty of Medicine and Surgery, the UST College of Nursing, and the UST College of Rehabilitation Sciences, is a level III, tertiary care center within the campus of the University of Santo Tomas, the oldest University in Asia. As a premier institution of learning in the Philippines, excellence in training, education and research is central in the vision and mission of the USTH.

Location: A.H. Lacson Avenue, Sampaloc, Manila, Metro Manila

Website: www.usthospital.com.ph

Phone: +632 8731 3001

10. Chong Hua Hospital

Chong Hua Hospital is a hospital in Cebu City, Philippines. It is a non-stock, non-profit organization, owned and managed by the Asociación Benévola de Cebú. With 660 beds and state-of-the-art facilities and equipment, Chong Hua is considered as one of the biggest, most advanced, fully integrated and comprehensive healthcare facility system in the Visayas and Mindanao.

In 2009, it became the first hospital outside Luzón and third in the Philippines to be accredited by Joint Commission International. The hospital had been able to keep its agency accreditation until 2015.

Location: Don Mariano Cui Street, Fuente Osmeña, Cebu City, Central Visayas

Website: www.chonghua.com.ph

Phone: +633 2255 8000

  • 1
  • 2
  • 3
  • 4
  • Next Page »

Advertisements

Join us on Facebook

FAQ.ph

Advertisements

About us

FAQ.ph stands for Facts, Answers and Questions about the Philippines. It is an online place where you can read interesting facts, useful answers and frequently asked questions about our country, its places, events and people. Our mission is to share stories that will help Filipinos and the world gain knowledge about everything in the Philippines, including its beautiful spots, rich history, unique society, and solutions towards the nation's progress.

More pages

  • About us
  • Privacy policy
  • Disclaimer
  • Advertise
  • Contact us

Latest comments

  • Anna May on How to Apply as a Voluntary Member with the Pag-IBIG Fund
  • John on Why So Many Filipinos Lack Discipline
  • Erlin on List of Postal Codes (ZIP codes) in the Philippines
  • Bo Tang on 14 Bad Habits that Filipinos should Break to Achieve Progress
  • Jay on 14 Good Filipino Habits that Make the Philippines a Great Country

© 2017 FAQ.PH All rights reserved.