Business process, outsourcing have changed the business and economic landscape
IF the brighter lights in commercial areas are an indication, the business process outsourcing industry has changed the business and economic landscape of the major business areas in Metro Manila. The industry currently employs a quarter of a million people, with pay scales that rank and file workers from other companies can only dream of.Based on data from the Business Processing Association of the Philippines, the industry’s current global market share of 5 percent could double in four years, growing at a compound annual rate of 40 percent. This would mean the creation of more than 300,000 jobs in the coming years, with information technology-enabled service firms pushing for the faster development of the domestic talent pool which would be a key component in the industry’s plans to increase revenues to billion and a workforce that would total half a million by the year 2010.
Experts and industry leaders say the sector must strive for growth rates greater than what can be observed at present. In the recent Call Center Conference and Expo 2007, members of the Business Processing Association of the Philippines and the Contact Association of the Philippines agreed to develop and push for an industry roadmap to achieve their goals in the next four years. The roadmap would include: Business process outsourcing companies working with government in creating the right business environment, especially one with tax incentives and similar attractions; creating new locations and developing alternative sites in cities; and enhancing the available talent pool of agents as well as management skills; and expanding the business process outsourcing growth rate that has been achieved so far.
The Philippine Business Processing industry has reached global heights. With a roadmap in place, concerns and barriers to growth can be removed to make the economic prospects of the country even brighter.
