THE Philippines will be among the hardest-hit economies should the US adopt protectionist trade policies, Moody’s Investors Service said in a report, which could dampen the prospects of the burgeoning business process outsourcing (BPO) sector that employs over a million Filipinos.
The year has not yet ended but I believe that the most used word in the country this year is “change.” Now, how you view change, whether as something to be feared or as a challenge to improve, will determine how you respond to it and how it, in turn, will affect you. One industry has charted its own course this year amid this sea of change. The Information Technology and Business Process Management industry or IT-BPM has thrived in the last 20 years to become one of the country’s primary economic drivers with more than one million full-time employees (FTE) and more than $22 billion in revenue as of 2015. The industry is on track to meet its 2016 goal of 1.3 million direct employees and $25 billion in revenue.
THE NEW government’s economic managers warned against being too reliant on the business process outsourcing (BPO) industry, as advances in technology could take the place of workers, thereby reducing the segment’s contribution to the economy.
THE Philippines is expected to maintain a current account surplus this year given expectations of sustained double-digit growth in the business process outsourcing (BPO) sector, with the industry estimated to have grown by 16.4% in 2015.
THE PHILIPPINES is now the call center “capital” of the world, Moody’s Analytics said in a recent report, displacing India as Filipinos prove to be a better option for skilled workers in the business process outsourcing (BPO) industry, but faces a crucial government transition, with continuity of anti-corruption efforts hanging in the balance.
DAVAO CITY — The city’s business process outsourcing (BPO) industry is expected to continue its robust growth in the next few years but its sustainability will largely depend on the availability of qualified manpower.
ALTERNATIVE locations to the main business districts are providing sufficient supply for the rapidly expanding business process outsourcing (BPO) industry, property consultants CB Richard Ellis (CBRE) Philippines, Inc. said.
The work force is vital to any company’s success. This is one reason why most companies, especially those in the service industry, make significant investments in the training and development of their people. In the case of a business process outsourcing (BPO) company, well-trained employees allow it to deliver excellent service to its clients worldwide. However, for BPO companies in the Philippines that are registered with the Philippine Economic Zone Authority (PEZA) and avail the 5% gross income tax (GIT) incentive, the deductibility of the training expenses as part of direct cost from the 5% GIT has not been clearly addressed by the Bureau of Internal Revenue (BIR).
A building in Manila occupied by a call center. Rajesh Pamnani MANILA, Philippines — Most voice and call center businesses in India are transferring to the Philippines due to Filipino workers’ more “neutral” English acccent, among other reasons, an Indian business group said. The Associated Chambers of Commerce and Industry of India (Assocham) said that India is losing 70 percent of all incremental domestic business process outsourcing (BPO) businesses, particularly call centers, estimated to be worth $30 billion in foreign exchange earnings. “Philippines … has become the top destination for Indian investors, thus the need to reduce costs and make operations leaner is increasingly becoming significant across the BPO industry,” Assocham secretary general D.S. Rawat said in a statement Sunday. Citing Assocham’s study, Rawat said that the Philippines has an advantage over India due to its large pool of “well-educated, English-speaking, talented and employable graduates.” Rawat said that only 10 percent of graduates in India are qualified to work in call centers and training could take a considerable amount of time. About 30 percent of graduates in the Philippines, on the other hand, are employable. “Employees in Philippine call centers speak English fluently with a neutral accent which is what customers look for and that is something missing in Indian accents and that is a prime reason why BPO business is thriving in that country,” Rawat explained. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Cultural proximity to the US together with availability of talented manpower are key reasons Read More …
BACOLOD CITY — The unemployment rate in Western Visayas declined to 6.2% in 2013 on the back of continued expansion in the business process outsourcing (BPO) sector.