Posted on 11/12/2014 2:39:50 PM PST by 2ndDivisionVet
American information technology and business process management (IT-BPM) companies should take a serious look at the Philippines, which continues to be an “ideal location for customer service and technical support outsourcing,” the Philippine ambassador to the US advised.
Ambassador Jose L. Cuisia, Jr. made this pitch to business executives and decision makers from Wall Street and Fortune 500 firms who attended a networking event hosted recently by the Philippine Consulate General in New York and the Seven Seven Corporate Group.
“The IT-BPM industry has been the fastest growing industry in the Philippines in the last 10 years,” Cuisia said as he urged the executives from New York, New Jersey and Connecticut to seriously consider putting some of their investments in the Philippines.
“Our GDP growth accelerated to 6.4 percent in the second quarter of 2014. This bodes well for economic growth for the rest of 2014,” Cuisia said. “We remain as one of the bright spots in the region, the second fastest growing economy among major Asian countries for the period.”
During the event, Consul General Mario De Leon said that based on the most recent report of the IT and Business Process Association of the Philippines, the IT-BPO industry directly employs one million Filipinos and is expected to earn $18 billion this year. He added that the industry also supports 2.5 additional jobs for each direct hire.
“The Philippines, now recognized as the number one provider of voice services, is determined to increase its market share for more sophisticated outsourced operations in such areas financial services, software design, medical and legal transcription, animation and gaming,” De Leon said.
The report also noted that by 2016, the Philippine business process management industry is expected to expand even more with projected revenues of $25 billion and direct employment for 1.3 million people, accounting for 7.8 percent of the Philippines’ GDP.
De Leon said Seven Seven has contributed significantly to this growth, being one of the first US companies to outsource from the Philippines. The company is currently being led by Mac Fojas, president, and Delle Sering, chief executive officer.
Founded in Manila and New York in 1996, Seven Seven provides services in information technology, including application development, IT infrastructure support, technical helpdesk, and back office processes.
The Filipino-American company supports customers in North America, Asia Pacific and Europe in the banking, insurance, global consumer, telecommunications, pharmaceutical and healthcare industries.
The event was the fifth annual cocktail mixer that Seven Seven has hosted for sourcing executives and decision makers from the New York tri-state area. The first was in 2009 then Consul General Cecilia Rebong and Trade Representative Josephine Romero.
still looking for the cheapest workforces it seems
Remember when high-tech was supposed to be a high-paying industry for America’s future? All those commercials and stuff. These companies want to pay a couple bucks an hour.
PH is just Indians badly programming but with terribly belligerent attitudes.
lolz
Outsource Coast-To-Coast to the Philippines. I think Art Bell is still there.
Not just the cheapest work force.
Cheaper energy.
Cheaper waste disposal.
Cheaper water.
Cheaper buildings.
Less intrusive regulation.
If you actually think this is just driven by labor costs you have listened to union talking points until you believed them.
I’m in the Philippines regards sales of medical diagnostics. I have seen the wave of Call centers and business process outsourcing which has grown to around a million call agents now. A lot of medical / legal transcription, back office human resources, accounting, engineering, design and so on is going on here. About 30% of college graduates here qualify to work in a call center, given there English speaking ability, education and such. Western companies, USA, Canada, UK, Australia and other regions are taking their back office work offshore and this is a hot spot for it. call centers hire at good income rate for the Philippine worker at over 300USD and contract to a western company at plus or minus 1000USD per agent. Makes good business sense and is capitalist profit driven.
True, but their English is much better, and easier to understand.
One of my vendors has a call center in Australia. I have been accused of holding onto support tickets just so I can hear them talk. Pleading the Fifth on that one.
Sip sip boo toh
Cost of doing business is a lot less all around, especially the cost of government
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