SourceFit

OCTOBER 31, 2014

Philippine Senator Paolo Aquino IV wants the government to support the local game software development industry and hopes to see the industry reach the success of the country’s business process outsourcing sector. During the Philippine Game Festival at SMX Convention Center in Pasay City, Aquino said that the government should ensure the world is aware of skilled Filipino game developers that possess the “right mix of art and technology.” Aquino said the country’s game de

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SourceFit

OCTOBER 30, 2014

The business process outsourcing (BPO) sector in the Philippines is expected to hit $48 billion in annual revenues by 2020 on the back of sustained growth from the last ten years. The Philippines compounded average growth rate (CAGR) was between 9 to 12 percent from 2004 to 2014, while the global CAGR of the BPO industry was at 5 to 7 percent during the decade.

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SourceFit

OCTOBER 24, 2014

The Department of Science and Technology (DOST) expects revenues of BPO companies in the Philippines to increase to $18 billion by the end of 2014 due to its “Next Wave Cities” program. The program aims to set up Information Technology-Business Process Management (IT-BPM) centers in places like Iloilo, Sta. Rosa in Laguna, Bacolod and Baguio City.

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SourceFit

OCTOBER 22, 2014

BPO companies in the Philippines are expected to absorb an estimated $30 billion in BPO earnings from rival India, according to a report by the Associated Chambers of Commerce and Industry of India (Assocham). Assocham said that India has already lost half of businesses to foreign providers, reportedly valued at $25 billion. Most of the businesses moved to the Philippines, which attracts investors due to a large, employable workforce that is fluent in English with American accents.

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Marketing

SourceFit

OCTOBER 21, 2014

Philippine President Benigno Aquino III said that the country’s business process outsourcing (BPO) and offshoring sector can grow further with government support. During the International Information Technology – Business Process Management (IT-BPM) Summit, the president expressed confidence that other countries will later take the Philippines as an example of how a country became a successful global player in just a few years.

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SourceFit

OCTOBER 21, 2014

Asia Pacific Digital (APD), a global online marketing and digital services provider with headquarters in Singapore and Sydney, plans to set up its information technology (IT) center in Manila. The plan follows the opening of a regional office center in Makati just last week. The proposed IT hub will serve as a “back and front” IT center for global clients, according to Asia Pacific Digital chief executive officer Roger Sharp.

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SourceFit

OCTOBER 17, 2014

The global insurance sector will spend about $3.5 billion in business process outsourcing (BPO) in 2015 for digital consumers and data analysis. According to a report by Everest Group, the insurance sector will also invest more than $700 million for renewals annually following years of increased spending. The property and casualty (P&C) insurance segment will double the growth rate of the life and pension (L&P) sector, which accounts for 60 percent of overall spending.

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Insurance BPO Business Process Outsourcing Banking 40

SourceFit

OCTOBER 16, 2014

About 75 percent of large international companies will boost their investment in outsourcing and take advantage of offshore delivery models for services like human resources and finance, according to research published by KPMG and HfS. The KPMG report showed that 72 percent of large businesses plan to spend more on outsourcing, and 61 percent plan to increase their use of IT and business processes shared services in the next two years, mostly offshore. .

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SourceFit

OCTOBER 15, 2014

Rental rates in the Philippines remain the lowest in Asia at $29 per square feet per year, a key factor in the continued growth of the country’s business process outsourcing (BPO) sector. The Philippines’ rental rates are lower than cities in India (Bangalore at $31 per square feet per year and New Delhi at $38) and popular BPO destinations across Asia (Bangkok $31, Kuala Lumpur $52, Hanoi $46, Ho Chi Minh City $56, Taipei $61, and Jakarta $73). .

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SourceFit

OCTOBER 14, 2014

The Philippines hosts top executives and key stakeholders from around the globe this October to share insights and address challenges at the sixth annual international IT-BPM Summit (IIS) in Makati. The summit, themed “Drive Change: Shape the Future,”? runs from October 13 to 14 and gives outsourcing companies the opportunity to present innovations, share ideas, and network with other professionals and potential investors.

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Global Hiring

SourceFit

OCTOBER 13, 2014

The Philippine unemployment rate dropped to 6.7 percent from last year’s 7.3 percent, according to the Philippine Statistical Authority (PSA). The cut was mainly due to 1.06 million jobs generated this year by outsourcing companies and other sectors. PSA’s 2014 Labor Force Survey reported that 93.3 percent of the country’s workforce (age 15 and over) is employed, with the number of employed Filipinos rising to 38.5 million in 2014 from 37.4 million in 2013, a 2.8 percent increa

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SourceFit

OCTOBER 6, 2014

The booming business process outsourcing (BPO) industry is expected to drive demand for office space in the country, according to real estate advisory firm CBRE Philippines. CBRE associate director Morgan McGilvray said in a media conference that a reduced vacancy rate (from 3.3 to 2.45 percent in the first quarter of 2014) for office space will be offset by 400,000 square meters of space coming online within the year.

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SourceFit

OCTOBER 2, 2014

Maersk Global Service Centers (Philippines) Ltd recently sealed a lease agreement for KPO (knowledge process outsourcing) space in Metro Manila, Philippines. The 8,900 square-meter space is located in Estancia Capitol Commons, a 10-hectare development site. Maersk is set to occupy four floors of Estancia’s North Wing for its 2,700 employees. The leased space is almost half of the total area to be built on the site.

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SourceFit

OCTOBER 2, 2014

The Philippines’ business process outsourcing (BPO) industry is on track to hit an estimated $25 billion in revenue by 2016. The sector also expects to amass a labor force of about 1.3 million employees on the same year. As the country continues to add higher value propositions to its traditional contact center offerings, the BPO industry expects increased traffic in the next two years.

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Supply Chain Management

SourceFit

OCTOBER 1, 2014

BPO (business process outsourcing) companies in the Philippines are hiring nursing graduates to provide clinical and medical coding services, according to Pasig City representative Roman Romulo. The “well-paying” jobs are coming from the growing number of companies providing healthcare services to the U.S. . Positions like medical coding and clinical support services require strong communication and analytical skills, as well as a willingness to work in shifts, said Romulo.

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