The Outsourcing Week in Review: Wednesday, October 31, 2018

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Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

According to global strategic advisory firm Tholons, this year the Philippines climbed to second in the top globalization destinations in the world, in large part due to its BPO sector. Even though there are mounting concerns over the global economy, the outlook for Philippines BPO continues to look good. IT investments in economic zones grow around 9% this year, according to PEZA, and the knowledge process outsourcing market is expected to grow even faster in coming years, according to a study published by Crystal Market Research.

The Philippines growing friendship with China is also likely to bear fruit. The ASEAN+3 Macroeconomic Research Office has forecast that China’s increasing integration with ASEAN will help boost the Philippines’ BPO sector.  And the damage being caused by the trade tensions between the US and China, will largely be mitigated by strong state spending, according to ING Bank. Still, the decision by the Philippines Department of Trade and Industry to consult the BPO industry on possible policies to combat the impact of trade tensions is a sensible precautionary move.

Global industry players also remain bullish, in actions as well as words. Alorica is adding three sites in Asia, consequently creating thousands of new jobs. Going the other way, Romanian-headquartered Conectys, a leader in multilingual and multicultural outsourcing with its largest overseas operations in Davao and Iloilo, will open a new center in Dallas, Texas. International players such as Mazars Philippines, Wipro and Atos all announced strong growth figures for the year.

Preparing for the changes in the industry will be critical to maintaining growth momentum. Accenture and Cognizant announced that they have joined five other professional services organizations to launch a data literacy drive in the country. The Senate also started the review of the third telco selection. Improving connectivity outside of Metro Manila is increasingly critical for the development of the country’s emerging new centers. Last week, Malaybalay City in Bukidnon announced that it has at least six call centers expressing strong interest in setting in the city. Meanwhile in Bacolod, Jocelle Batapa-Sigue, the highly energetic chair of the BacolodNegros Occidental Federation for Information and Communications Technology and a champion for ITC development in the countryside, announced she is seeking the mayoralty post in Bacolod City.

 

 

Wednesday, October 31, 2018

NEWS THIS WEEK

29 October 2018

26 October 2018

  • DTI consults BPOs on policy changes amid trade war – read more…
  • Mazars Philippines expects triple-digit profit growth – read more…
  • Wipro revenues hits $2bn in Q2 – read more…

25 October 2018

  • Cognizant, Accenture join drive for data literacy – read more…
  • State spending will bolster Philippines economy – ING – read more…
  • Digital transformation firm Atos reports solid Q3 performance – read more…

24 October 2018

  • IT investments in economic zones grow around 9% – read more…
  • Malaybalay emerges as next key BPO hub – read more…
  • Strong revenue visibility for KPO market—study read more…

23 October 2018

  • Tholons: Philippines is world’s 2nd top globalization destination – read more…
  • ICT advocate eyes Bacolod City mayoralty post – read more…
  • Senate starts review of third telco selection – read more…

Read more Inside Outsourcing Newsletters here:

  1. The Outsourcing Week in Review: October 24, 2018
  2. The Outsourcing Week in Review: November 7, 2018

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