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First Posted 09/29/2008 | 07:42 PM
MANILA, Philippines - A group of Philippine business process outsourcing (BPO) companies will strengthen its global marketing programs to make the country a top-of-mind" destination for outsourcing."
To combat effects of the current financial turmoil in the United States the Philippines biggest market for outsourcing services campaigns in the US and Australia are being prepared for early 2009, the Business Processing Association of the Philippines (BPA/P), told GMANews.TV.
While Oscar M. Sanez, BPA/P chief executive officer recognized that BPO operators may experience a bit of a cooling down," he nevertheless assured that there will still be growth."
We are still very positive but watchful of all external events around us," Sa’ez said. Investors from US, Europe, India, Singapore and Australia continue to meet with us."
Among the current industries that the BPOs are servicing are telecommunications, technology, power, retail and utilities. Besides banking and finance, many industries are still untapped, he said.
The market for outsourcing is big $450 billion and a significant part of it has not been realized," he added.
In an email, Sanez said the banking and financial vertical market globally is only 10-15% of the addressable market of the estimated $130 billion market in 2010.
Under BPA/P's Offshoring & Outsourcing Roadmap 2010, the Philippines wants a 10% share of that global market by 2010.
The Philippines takes prides of its highly-trainable, English-speaking BPO workers.
Recently, the local BPO sector has not been harping on cost benefits because other countries are offering lower rates. The Philippines is now competing on quality, the local industry has said.
Sa’ez said the BPO industry is sending a delegation to the National Outsourcing Association (NOA) Conference in the United Kingdom in November. Last year, NOA recognized the Philippines as the Offshoring Destination of the Year.
Earlier, House Speaker Prospero C. Nograles expressed concerns that some of the local industries which are dependent on the US market may be affected by the US crisis.
We may not feel the effects right away but there are key industries and sectors in the Philippines that are directly linked with the crisis in the US. Our main source of dollar reserve for example comes from remittances of Filipinos in the US and our main source of domestic job placements are business processes outsourcing outfits (BPOs) such as call centers with most clients in the US," Nograles said. - Veronica C. Silva, GMANews.TV