MicroSourcing - Outsourcing News
JP Morgan Expects more Foreign Investments to PH this Year
by: Sarah Joson
Friday, February 03, 2012 | Outsourcing News | Comments (0)
Arian Mowat, Chief Emerging Market and Asian Equity Strategist of JP Morgan Chase & Co., believes that more foreign investors will continue to spend in the Philippines this year, unless the economic environment changes. He said that low interest rate, stable political environment and inflation rate, and sustainable foreign exchange inflows from remittances and business process outsourcing (BPO) are some of the factors that make the Philippines competitive.
JP Morgan predicts a four-percent increase in the country’s gross domestic product (GDP). The inflation rate is likewise expected to be at four percent by the end of 2012.
Gilbert Lopez, the Philippines equity strategist of JP Morgan, anticipates a 10 to 12 percent growth rate for this year’s revenues, citing banks and conglomerates as sound choices for investments. The Bank of the Philippine Islands, Metrobank, Security Bank, Ayala Corp., and Metro Pacific are likely to become the largest gainers.
Bangko Sentral Governor Amando Tetangco Jr. said capital funds were allotted to government securities and local stocks last year. These led to positive effects to the market’s liquidity and funding. Meanwhile, Tetangco noted that sectors should not be comfortable with the country’s economic standing and large number of investors, saying it is important to be prepared in case the business environment changes.
He added that regardless of the economic issues in Europe, remittances from overseas Filipino workers may reach $21 billion this year.
Source:
http://www.manilastandardtoday.com/
JP Morgan predicts a four-percent increase in the country’s gross domestic product (GDP). The inflation rate is likewise expected to be at four percent by the end of 2012.
Gilbert Lopez, the Philippines equity strategist of JP Morgan, anticipates a 10 to 12 percent growth rate for this year’s revenues, citing banks and conglomerates as sound choices for investments. The Bank of the Philippine Islands, Metrobank, Security Bank, Ayala Corp., and Metro Pacific are likely to become the largest gainers.
Bangko Sentral Governor Amando Tetangco Jr. said capital funds were allotted to government securities and local stocks last year. These led to positive effects to the market’s liquidity and funding. Meanwhile, Tetangco noted that sectors should not be comfortable with the country’s economic standing and large number of investors, saying it is important to be prepared in case the business environment changes.
He added that regardless of the economic issues in Europe, remittances from overseas Filipino workers may reach $21 billion this year.
Source:
http://www.manilastandardtoday.com/
PH IT-BPO Eyes Top Spot in other Outsourcing Areas
by: Sarah Joson
Thursday, February 02, 2012 | Outsourcing News | Comments (0)
The Information and Communications Technology Office of the Department of Science and Technology (DOST-ICTO), along with the Business Processing Association of the Philippines (BPAP) stated that they are aiming to dominate four more outsourcing markets: Healthcare Information Management Outsourcing, Finance and Accounting Outsourcing, Human Resources (HR) Outsourcing, and Creative Process Outsourcing.
About five percent of the Philippine GDP last year was from the IT-BPO industry. Moreover, with the Philippines’ recent domination of the voice-based services segment, $11 billion worth of export revenues, 640,000 direct jobs, and around 1.5 million indirect jobs contributed by the IT-BPO sector, BPAP wants the country to maintain and reinforce its position.
Speaking in behalf of DOST-ICTO, Deputy Executive Director Alejandro Melchor wishes to take over the British and Australian markets as well as develop the country to become the frontrunner in the four niches. Furthermore, he says the Philippines’ market share for Information Technology Outsourcing, Engineering Services Outsourcing, and Multilingual BPO will be doubled in 2016.
BPAP Chairman Alfredo Ayala is confident that the 2016 target of $25 billion in revenues, 1.3 million direct jobs, and more than three million indirect jobs can be attained with stronger partnership with the government.
Source:
http://manilatimes.net/
About five percent of the Philippine GDP last year was from the IT-BPO industry. Moreover, with the Philippines’ recent domination of the voice-based services segment, $11 billion worth of export revenues, 640,000 direct jobs, and around 1.5 million indirect jobs contributed by the IT-BPO sector, BPAP wants the country to maintain and reinforce its position.
Speaking in behalf of DOST-ICTO, Deputy Executive Director Alejandro Melchor wishes to take over the British and Australian markets as well as develop the country to become the frontrunner in the four niches. Furthermore, he says the Philippines’ market share for Information Technology Outsourcing, Engineering Services Outsourcing, and Multilingual BPO will be doubled in 2016.
BPAP Chairman Alfredo Ayala is confident that the 2016 target of $25 billion in revenues, 1.3 million direct jobs, and more than three million indirect jobs can be attained with stronger partnership with the government.
Source:
http://manilatimes.net/
PH BPO Revenues Predicted to Reach $25B by 2016
by: Sarah Joson
Wednesday, February 01, 2012 | Outsourcing News | Comments (0)
During the press conference "Strategies and Prospects of the IT/BPO Industry in the Philippines”, government officials and industry leaders stated that they strongly believe in the potential of the information technology-business process outsourcing (IT-BPO) industry. In fact, the industry is expected to provide 1.3 million jobs and contribute approximately $25 billion in revenues by 2016, even though an anti-outsourcing regulation is being petitioned in the US.
Department of Science and Technology-Information & Communication Technology Office (DOST-ICTO) Secretary Mario G. Montejo said there’s a great possibility that the Philippines can lead worldwide, while Deputy Executive Director Alejandro P. Melchor III said the BPO industry is resilient against challenges in the economy - whether it is recession or politics. Furthermore, he highlighted that the industry grew 26% in 2008 and 17% in 2009, even during the global economic downturn.
In 2011, the industry was valued at $10.9 billion and employed 640,000.
Business Processing Association of the Philippines (BPAP) Chairman Fred Ayala is optimistic that the BPO industry will reach its goals this year. He added that it is important to stay competitive since there are other destinations that are poised to make a mark in the outsourcing arena.
The Philippines is already the top provider for voice-based processes, but it is believed that tapping other mainstream niches such as healthcare information management, finance and accounting, human resources, and creative process will greatly contribute to the growth of the industry.
Meanwhile, programs such as the ICT Workforce Capability Development Program, Next Wave Cities Program, and the Domestic ICT Industry Development Program were created by DOST-ICTO to address talent issues and further improve the industry.
Source:
http://www.abs-cbnnews.com/
Department of Science and Technology-Information & Communication Technology Office (DOST-ICTO) Secretary Mario G. Montejo said there’s a great possibility that the Philippines can lead worldwide, while Deputy Executive Director Alejandro P. Melchor III said the BPO industry is resilient against challenges in the economy - whether it is recession or politics. Furthermore, he highlighted that the industry grew 26% in 2008 and 17% in 2009, even during the global economic downturn.
In 2011, the industry was valued at $10.9 billion and employed 640,000.
Business Processing Association of the Philippines (BPAP) Chairman Fred Ayala is optimistic that the BPO industry will reach its goals this year. He added that it is important to stay competitive since there are other destinations that are poised to make a mark in the outsourcing arena.
The Philippines is already the top provider for voice-based processes, but it is believed that tapping other mainstream niches such as healthcare information management, finance and accounting, human resources, and creative process will greatly contribute to the growth of the industry.
Meanwhile, programs such as the ICT Workforce Capability Development Program, Next Wave Cities Program, and the Domestic ICT Industry Development Program were created by DOST-ICTO to address talent issues and further improve the industry.
Source:
http://www.abs-cbnnews.com/
PH BPO Sector Unfazed by Obama’s Anti-outsourcing Efforts
by: Sarah Joson
Tuesday, January 31, 2012 | Outsourcing News | Comments (0)
With at least half of the call centers in the Philippines serving US-based firms, the Business Processing Association of the Philippines (BPAP) appears to be reassured amid President Barack Obama’s mass petitioning for businesses to bring jobs back to the US. The outsourcing body also believes that the Philippines’ flourishing BPOs will see no adverse effects as the anti-outsourcing bill is being processed.
Martin Crisostomo, BPAP’s Spokesperson, stated that business process outsourcing is no longer a mere tool or a solution for businesses to stay afloat, but is now considered as a major factor to stay competitive. Furthermore, he strongly believes that outsourcing is here to stay and is now part of globalization.
In his State of the Union address, Pres. Obama said companies that are providing jobs to US citizens should be rewarded and prioritized, and not those businesses that transfer processes to offshore locations. Benefits such as tax deduction shouldn’t be given to firms that outsource work overseas, but should be given to companies that bring jobs back home.
Source:
http://www.abs-cbnnews.com/
Martin Crisostomo, BPAP’s Spokesperson, stated that business process outsourcing is no longer a mere tool or a solution for businesses to stay afloat, but is now considered as a major factor to stay competitive. Furthermore, he strongly believes that outsourcing is here to stay and is now part of globalization.
In his State of the Union address, Pres. Obama said companies that are providing jobs to US citizens should be rewarded and prioritized, and not those businesses that transfer processes to offshore locations. Benefits such as tax deduction shouldn’t be given to firms that outsource work overseas, but should be given to companies that bring jobs back home.
Source:
http://www.abs-cbnnews.com/
India’s Nasscom Predicts Slow Activity in Software Exports
by: Sarah Joson
Monday, January 30, 2012 | Outsourcing News | Comments (0)
The National Association of Software and Services Companies (Nasscom), the trade association of the IT-BPO industry in India, will possibly predict slow activity in software exports due to incessant economic problems affecting the information technology (IT) outsourcing sector.
According to a Nasscom official, there’s a possibility that the growth rate prediction for this year will not be surpassed, though a double-digit growth for 2012’s fiscal year would still be attainable.
For this year, Nasscom members such as Infosys, Tata Consultancy Services, and Wipro are believed to be having a hard time in explaining the situation and are still in the process of negotiating, when in fact the organization’s officials are usually ready with a forecast by this time of the year.
Another Nasscom official added that they are still waiting for the revenue forecasts from companies, saying it does not look clear, and goal revisions may be in order this year.
There may be a slowdown, but the industry can reach the target for 2011-12. It is expected to post a 16-18 percent growth rate or $70 billion. On the other hand, IT research and advisory firm Gartner has reduced its IT spending predictions from 4.6 percent to 3.7 percent.
Meanwhile, Infosys Chief Financial Officer V Blakrishnan assumed that clients are now more cautious when it comes to IT spending. This has led to an indefinite forecast for the sector.
Source:
http://economictimes.indiatimes.com/
According to a Nasscom official, there’s a possibility that the growth rate prediction for this year will not be surpassed, though a double-digit growth for 2012’s fiscal year would still be attainable.
For this year, Nasscom members such as Infosys, Tata Consultancy Services, and Wipro are believed to be having a hard time in explaining the situation and are still in the process of negotiating, when in fact the organization’s officials are usually ready with a forecast by this time of the year.
Another Nasscom official added that they are still waiting for the revenue forecasts from companies, saying it does not look clear, and goal revisions may be in order this year.
There may be a slowdown, but the industry can reach the target for 2011-12. It is expected to post a 16-18 percent growth rate or $70 billion. On the other hand, IT research and advisory firm Gartner has reduced its IT spending predictions from 4.6 percent to 3.7 percent.
Meanwhile, Infosys Chief Financial Officer V Blakrishnan assumed that clients are now more cautious when it comes to IT spending. This has led to an indefinite forecast for the sector.
Source:
http://economictimes.indiatimes.com/