Here’s another round of news articles about outsourcing in the Philippines that may be of great interest to businesses around the world.
Bacolod eyes ‘knowledge process outsourcing’ (June 21, 2017)
Leaders of the local information technology sector expressed confidence that Bacolod City can shift to knowledge process outsourcing (KPO) following in the experience of Cebu City.
Jocelle Batapa-Sigue, executive director of Bacolod-Negros Occidental Federation for ICT (Bnefit) on Wednesday said the city can handle high-value outsourced services involving knowledge and information, especially in the field of healthcare information management (HIM) and software development.
The KPO companies offer higher value outsourcing services such as medical transcription, software engineering, and finance and accounting.
Sweden exploring business opportunities in Negros Occidental (June 24, 2017)
Fries said the governor also mentioned that business process outsourcing (BPO) is one of the growing industries in the province.
He added that Swedish BPO company Transcom Worldwide is “very successful” in Bacolod, and the firm is “happy” to be here.
Fries said he will talk with the businessmen in his country and “tell them they should come and see for themselves what opportunities they can invest in, and do business in this province.”
He also said that his country has a “very diversified economy,” adding that “we cover all areas of business,” including the BPO industry.
Fries said that Sweden is “very strong” in the information technology sector, adding that his country is known as the startup technology capital of Europe.
There are a lot of young Swedish people in the IT sector who are coming to Manila and try their business models there, he said.
They should also come to Bacolod to see the opportunities here, he added.
Fries said the Provincial Government told him there are young people in the province who are very good in speaking English and well-educated.
“The cost of living is lower here and the quality of life is very high, compared to the congested Manila,” he pointed out.
Data Privacy Act seen increasing global BPO position of PH (June 28, 2017)
The Data Privacy Act of 2012 will significantly increase the position of the Philippines as one of the world’s most preferred destinations for business process outsourcing (BPO), according to the Contact Center Association of the Philippines (CCAP).
“With the creation of the Act, all BPO firms in the country are now mandated to ensure protection to personal data resulting to an increase in foreign investors’ confidence in growing their outsourcing requirements in the country,” said Espie Bulseco, Learning Series Task Force lead of the CCAP Security Council and senior director for Business Excellence at Hinduja Global Solutions.
Bulseco added Republic Act 10173 will also increase the country’s capability to handle outsourcing requirements of countries with their own data privacy laws since they have specific restrictions in transferring their residents’ data outside their region unless the outsourced provider is located in a country with existing data privacy laws.
“Overall, the Data Privacy Act of 2012 will increase the number of foreign investors leading to an increase in our position as a leading BPO destination,” Bulseco said.
Demands for scale and partnerships will drive further outsourcing deals (June 28, 2017)
Increased demands for scale and strategic partners will drive asset owners and insurers to outsource their investment operations, according to research from State Street.
A recent survey of 507 global asset managers and owners revealed around a quarter of pension funds and insurers plan to further increase their outsourcing operations.
An inability to achieve scale quickly enough in-house was cited by 36% of respondents as an important factor driving outsourcing decisions.
Other factors driving outsourcing operations include “the need for a strategic partner” to foster long-term growth as well as a need to focus “in-house resources on value-adding activities” cited by 35% and 32% respectively.
In addition, 27% of respondents believe external providers can perform the function better than they can while 22% feel outsourcing can help their institution access additional talent and expertise.