BPO Philippines earned $ 5B in '07

The revenue of the Philippines BPO (business process outsourcing) in 2007 sent $ 5 billion, the Department of Trade and Industry (DTI) announced.

The DTI's annual report indicates that the revenue of the country's outsourcing industry has grown from $ 3.5 billion in 2006. Currently the country, the world leader in outsourcing employs a total of 320,000 workers, which is higher than in 2006 with a total of 235,000 employees.

This growth is in line with the Philippine government's campaign to boost this industry not only locally, but its main goal among international investors. The Philippines is one of the choices in the forefront in terms of BPO, in particular the call center, which is the pattern of sound into account.

In addition to call centers, the Philippines is also promoting its expertise in medical transcription, IT (information technology), animation, among others. Previously, positive reports from international business leaders in Davos, Switzerland has commended the country's tremendous growth in outsourcing in the recent World Economic Forum.

Large and small companies are operating in the Philippines because of its cost-effectiveness of services and investor-friendly atmosphere. Philippine President Gloria Macapagal-Arroyo, in her previous statements issued by the Office of the Press Secretary (OPS), thanked the investors for raising the country's economic activities. He added that the job opportunities in the outsourcing industry are a way to support his campaign for a "Strong Republic" nation.

Competition

Because the competition is very high in BPO, several countries in Southeast Asia, Europe and the USA are also enhance this area to stay on top.

The country today is no doubt to gain success in keeping the industry alive. The serious thing to consider is to remain above because other countries are seriously promoting their BPO industry not only for revenue but also to be a global leader.

Oscar Sanez, head of Business Process in the Philippines on Thursday disclosed during e-Services briefing that the country remains to be competitive.

Mr. Sanez said that the sound-based (call center) is still growing in the country because of the fluidity of every Filipino English. However, Mr. Sanez BPO firms urged to strengthen their weaknesses in the country in accounting, finance, engineering and IT services.

Meanwhile, DTI said that the Filipino graduates with high knowledge about the liberal arts, that the studies focused on general knowledge and intellectual skills, gives favorable advantage for the country as a preferred outsourcing destination, rather than other offshore destinations such as' India.

DTI added that the increased knowledge of English and with greater focus on customer service are among the reasons why potential investors as the country.

Meanwhile, Richard Mills, an expert on outsourcing in Asia-Pacific region has revealed that India is known to be a producer of technical knowledge, while the Philippines is focusing more on the liberal arts.

Mr. Mills has revealed evidence that the world is putting their businesses in a country like the animation, medical services, processes, insurance, legal services, publishing and promotion of content. Mr. Mills is one of the speakers at the Business Venture Track e-Services Philippines Outsourcing Conference and Exhibition was attended by BPO executives, entrepreneurs, local and national politicians.

Each year, graduates of the country reached 385,000 with a strong background in English. The country is also producing more than 100,000 accountants and business-related graduates every year.

To demonstrate the best of Filipino accountants, the United States Generally Accepted Accounting Principles (GAAP) has recognized expertise in accounting Filipinos. This is because the Filipino accountants who have passed the annual Certified Public Accounting (CPA) examination are familiar with the accounting standards and International Accounting Standards (IAS) in terms of financial reporting.

Outsourcing the Philippines will continue to provide best services to its customers around the world and to grow to $ 12.4 billion with 303,000 job opportunities over the next two years .......