Outsourcing News for August 2012
PH Dubbed as “Asia’s New Darling of Investors”
by: Sarah Joson
Friday, August 31, 2012 | Outsourcing News | Comments (0)
At CNBC Asia’s latest article “Who Is Asia’s New Darling of Investors?” published in The New York Times last August 27, it identified the Philippines as the country that is getting the attention of investors. The country posted a GDP growth rate of 5.9 during Q2, making the GDP of this year’s first half 6.1%.
The Philippines’s Q2 GDP enabled it to come in third place, closely following China and Indonesia. With the country’s 5.9% GDP, fuelled by the strong growth of services exports, it was able to outdo Malaysia (5.4%), Vietnam (4.4%), Thailand (4.2%), and Singapore (2%).
Prakriti Sofat, Regional Economist at Barclays, said the Philippines is “Asia’s rising star”. It is also expected that the country would get an upgrade in credit ratings in the second half of 2012.
Medha Samant, Investment Director at Fidelity Worldwide, said the Philippines’ reduced fiscal deficit, strong domestic demand, and high volume of remittances from overseas workers help the country attract more investors. Another key growth driver for the country’s economy is the thriving business process outsourcing (BPO) sector. Samant noted that the BPO market poses a lot of opportunities.
Meanwhile, research consultancy firm Everest Group said the Philippines is the global leader for call center operations, overtaking India’s $7 billion in voice-based processes by posting $7.6 billion.
Source:
http://www.abs-cbnnews.com/
Data Privacy Act to Improve PH BPO Industry
by: Sarah Joson
Thursday, August 30, 2012 | Outsourcing News | Comments (0)
Benedict Hernandez, Director of the Business Processing Association of the Philippines (BPAP) and President of the Contact Center Association of the Philippines (CCAP), said the local BPO sector must and will abide by the new law’s provisions. It is also predicted to attract more investors as it is set to reinforce protection of private data.
In an interview, Hernandez also highlighted several uses and benefits of the law to the outsourcing industry and other sectors as well. He added that private information should be handled with outmost confidentiality.
Moreover, he said having reinforced data privacy processes will help pave the way for better business practices in companies and more opportunities in attracting potential investors. He reiterated that BPAP will strive to work with the government in implementing and establishing the provisions of the Data Privacy Law.
Source:
http://ph.news.yahoo.com/
Aquino Signs Data Privacy Act into Law
by: Sarah Joson
Wednesday, August 29, 2012 | Outsourcing News | Comments (0)
The law aims to protect and secure private data from both public and private entities. The National Privacy Commission is assigned to monitor and make sure that the country is following international standards in terms of data protection protocols.
Moreover, a data protection guide will be published and reviewed periodically in case an occasion calls for an update, as well as to keep the private and public entities informed.
Senate Science Committee Chairman Edgardo Angara, who proposed the bill, said if the act is signed into law, it will help the country’s IT-BPO industry grow and attain the revenue forecast of $25 billion by 2016 and employment of up to four million Filipinos.
Source:
http://www.gmanetwork.com/
IT-BPO to take Center Stage in “Next Wave Cities”
by: Sarah Joson
Tuesday, August 28, 2012 | Outsourcing News | Comments (0)
Next Wave Cities are identified as IT-BPO qualified locations outside the National Capital Region and Metro Cebu.
According to DOST, the event aims to increase applications, promote the outsourcing industry to graduates, and clarify some false impressions about the sector. It will last for four months and will be held in different locations.
The dates for the IT-BPO road show are as follows: Palayan City, September 7; Tagbilaran, September 13; Zamboanga, September 28 -29; Malolos, October 4-5; Clark Special Economic Zone, October 10-11; Bacolod, October 15-16; Cavite, October 25-26; and Davao, November 9-10.
The institution added that the road show aims to tap Smarter City/Rural regions to improve the social and economic standing of the regions by means of ICT. Moreover, partnerships that will provide employment opportunities and training programs with the private and public sectors are highly anticipated for the IT-BPO industry.
Alejandro Melchor, DOST-ICTO Deputy Executive Director for Industry Development, said it would be more beneficial to the country if other regions that have high volumes of graduates can benefit from the IT-BPO sector, especially now that major cities are already saturated by outsourcing operations. He said it would result to a more balanced development throughout the country.
Source:
http://www.pia.gov.ph/
Global Animation Software Market to Post 18.1% Growth
by: Sarah Joson
Friday, August 24, 2012 | Outsourcing News | Comments (0)
Some of the renowned players in this segment are Adobe Systems Inc., Autodesk Inc., Side Effects Software Inc., and Toon Boom Animation Inc.
An analyst from TechNavio’s engineering team said a lot of organizations in the animation sector are outsourcing animation work offshore to reduce operational costs. It is also a growing trend in the market. Countries in the APAC region such as Japan, the Philippines, Korea, and India are the chosen animation service provider locations of more advanced countries which make the most out of the cost advantages.
The two types of animation content gaining traction are 2D and 3D as these help movies give better graphical display, productivity, and clearer pictures. An increasing demand for animation work is also seen in the gaming space.
Source:
http://www.virtual-strategy.com/