By Emmanuelle Gomez
The Philippine BPO industry and its sub sectors are found to have been in a steady and solid growth for the past five years.
Year 2001 up to 2005 yielded 40-50% industry growth with employment increasing by more than double from 2004 (100,500) to 2006 (237,000).
With this, business analysts hold that the Philippines is past the point of gearing up and is now on its way to becoming one of the major players in the global BPO industry that has a market of approximately $300 billion.
As of the year 2007, the Booz Allen Hamilton consulting firm conducted a research that cited the Philippines as the second best outsourcing location, as against India. Due mainly to cost competitiveness, quality and high-standard services offered, and the sustainability of talent, the Philippines' BPO/IT environment has been branded as entirely "fertile" and more than promising. The country's yielded standards are currently considered at par with the world's major BPO players and there still are a lot of identified rooms for improvement.
Members of the Business Processing Association Philippines believe that in order to hasten the amelioration of the industry, there is a need to have an initiative in all key industry areas that will help solve issues such as the insufficient quantity of suitable and willing talent to fuel growth, insufficient quantity of suitable space to achieve the industry's goals for 2010, and the persistent perception of the Philippines' environment to be of high-risk.
Association members have made it a goal that by the year 2010, the BPO/IT industry would be able to rise up to an increase of 4 percent to 10 percent in its total global market share. The group also foresees a $10-12 billion revenue and anticipates an annual hiring rate of around 150,000.
More than just a bunch of goals, the projections made are also meant to show the challenges, the roadblocks, and the potential bridges that may hinder the industry to reach its coveted destination.