Archive for June, 2012

BPO Sector Jacks Up Revenue Goal To $26B By ’15

The country’s business process outsourcing (BPO) sector is batting for a higher growth target as the global economic conditions become more conducive to the subcontracting of work by companies in developed markets.

“Overall, we just increased our target to $26 billion in revenue for 2015,” said Rainerio “Bong” Borja, president of Aegis-People Support, one of the largest BPO companies operating in the Philippines.

Borja is also a director of the Business Processing Association of the Philippines (BPAP), the business outsourcing industry’s main marketing arm.

The industry’s latest earnings projection is higher than its previous forecast of $25 billion for 2015 and double the expected revenue of $13 billion for this year.

Experts Predict Clear Skies Ahead For the Philippines BPO Industry

Considered one of the most dynamic sectors in the world, the Philippine market BPO should continue on a positive trend this year. Experts from Business Processing Association Philippines provide an annual increase of at least 4-10% of global market share, coupled with an expected turnover of at least $ 10-12 billion. An annual hiring rate of 150 000 is also provided, thereby establishing the Philippines as one of the best choice for BPO destinations in Asia.

 

Precisely How Staffing Works Best For Offshore Companies

Because of the last economic downturn, many companies continue to seek an outsourcing company that will meet their requirements,  flexibility and cost effective. The choices have expanded to consist of many procedures that have not previously been off-site, including staffing offshore. Most of these opportunities will potentially lead to discipline in just a matter of years. They certainly can and will be valuable for small businesses desperate  for fulfillment in the modern economic system. In the Philippines,  outsourcing is not really new. Corporate customer call center have been established here through the back of the past decade and earlier years of this century. The outsourcing of customer support functions led to growth in other areas such as business process outsourcing and site maintenance.

Outsourcing To Philippines Is Effective

Outsourcing to Philippines may be a new effort for some companies, but to those who were in outsourcing before, outsourcing to Philippines has helped a lot. It helped them in terms of financial matters. Outsourcing the Philippines was helpful enough that some companies have developed their activities due to the fact that outsourcing in the Philippines saves them from high expenses. Studies have also shown that working with the Filipinos have not failed firms as workers are very effective and have been sufficiently useful to society.

Business Registration in the Philippines now Faster

The Philippines has improved its ranking as a business destination, especially in terms of market access on the World Economic Forum’s enabling trade index, ranking 72nd out of 132 countries. However, how do we improve the the problem that comes in when registering a business in the Philippines? According to the World Bank Ease of Doing Business 2012 data, the Philippines ranks 136 out of 183 countries, while our neighboring countries, Singapore ranking 1st and Hong Kong ranking 2nd. We’ve asked some of our clients who have registered companies in SG and HK what the problem was in incorporating a company in the Philippines and a majority answered it’s the timeline in getting a company registered with the different government agencies. Countries like Singapore and Hong Kong takes a few days to a few weeks to incorporate or registration a business. In the Philippines, however, this takes 2-3 months, and this is assuming that there are no problems with the documentary requirements presented to the different government agencies; national, city and neighborhood.

Call Center Industry Success Due To Outsourcing

Outsourcing is the process by which a corporation, like a business, that gets another company to help in the business process or specific services in which the entrepreneur wants to achieve. And according to many experts, outsourcing is one of the few factors that contribute to economic growth of a country. A popular example is the industry of call centers in the Philippines.

Success through outsourcing, according to many experts in the Philippines, the call center industry is one of the most successful industries across the country. It is even known as the Sunshine Industry of the Philippines because of its massive expansion over the last 10 years. It is considered one of the most dynamic sectors in the economy.

BPOs Need Accountants, Nurses, Engineers

MANILA, Philippines – The business process outsourcing industry offers job opportunities for new graduates and professionals, such as nurses, accountants and engineers.

Business Processing Association of the Philippines (BPAP) president and CEO Benedict Hernandez said the industry offers a hundred thousand IT-BPO jobs for financial analysts, engineers, accountants, doctors and nurses, artists, business graduates, and other professionals on its website Work Abroad. Live Here (www.workaboardlivehere.com).

BPAP launched the career portal to increase awareness of career opportunities in the IT-BPO industry.

BPAP senior executive director Gillian Virata said many still don’t know that IT-BPO has 20 different segments, employs 640,000 Filipinos and generated $11 billion in revenues last year.

Philippine Economy is Second-fastest in Asia, after China

The Philippines’ gross domestic product (GDP) grew by 6.4% in the January – March period, from the revised 4.9% expansion in the same period last year.

Within Asean, the Philippines’ economic performance was above the region’s average of 3.7%, growing faster than even Indonesia (6.3%), Vietnam (4%), Singapore (1.6% and Thailand (0.3%).

Growth in other Asian countries likewise was slower: India (5.3%, Hong Kong (0.4%), Republic of Korea (2.8%), and Japan (2.8%).

“But in the Philippines, the first quarter showed another strong increase. This reflects policy makers’ preparedness for anticipated weaker external demand in 2012, prompting them to boost domestic spending through fiscal and other policy measures,” the bank said.