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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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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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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