The Outsourcing Week in Review: Wednesday, January 4, 2022

Local Inside outsourcing
  • Home
  • Articles
  • The Outsourcing Week in Review: Wednesday, January 4, 2022

Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

2022 has been an amazing year for outsourcing. Experts all agree that the success is set to continue through 2023! Start the New Year right with the freshest outsourcing news.

The global outsourcing market is forecasted to reach a total market size of US$904.948 billion in 2027, growing at a compound annual growth rate (CAGR) of 5.54%. According to a report by market data and statistics provider Research and Markets, its cost-effectiveness, as well as the virtualization and post-pandemic re-engineering initiatives of companies made outsourcing popular to clients. Moving forward, market demand is expected to increase further as major industries resume their processes after years of lockdowns.

In the Philippines alone, the Business Process Outsourcing (BPO) industry is expected to be a key economic growth driver in 2023. According to Terry Ridon, a public investment analyst and convenor of think tank InfraWatch PH, outsourcing firms are expected to create more jobs in the country — reaching 1.1 million by 2028 — as they provide service to various international companies. Neighboring China is looking to expand its human resources (HR) services sector through 2025. A circular released by the Ministry of Human Resources and Social Security revealed that the country aims to develop about 50 leading enterprises and approximately 100 smaller firms that provide HR services. The Chinese government also plans to create 30 national industrial parks and a batch of local industrial parks that focuses on building high-level national talent markets.

Fiji’s Minister for External Trade Cooperatives and Small and Medium-Sized Enterprises (SMEs) Manoa Kamikamica is also banking on BPOs to generate enormous revenue for the next 10 years. In a statement, Kamikamica is aiming to land “at least three, five, or 10 per cent” of Australia’s US$30 billion-worth outsourcing market to create another big industry in Fiji. The minister also noted that they are planning to keep the country’s economy moving and growing, so the public could expect consistency of policy, collaboration, and consultation in the days ahead.

Meanwhile, multilateral agency International Trade Center (ITC) believes that export marketing can help leverage the African tech and Information Technology Business Process Management (IT-BPM) industries. ITC, which has a joint mandate with the World Trade Organization (WTO), said that its Netherlands Trust Fund V (NTF V) could help entrepreneurs address the complexities of global marketing and international sales. The NTF V Ghana Tech program just concluded an eight-month Export Marketing Plan training for 18 IT-BPO companies to sell their services across the world.

Despite being an outsourcing powerhouse, illegal call centers and phishing gangs are still present in India. According to a report from the United States (U.S.) Federal Bureau of Investigation (FBI), these fraudsters earned around $10.2 billion from their American victims in 2022, up 47% from last year’s $6.9 billion. To bust these gangs, the FBI assigned a permanent representative at the U.S. embassy in New Delhi to work closely with India’s Central Bureau of Investigation (CBI)Interpol, and the Delhi Police.

A friendly reminder: always be careful before trusting a person on the phone!

The Contact Center Association of the Philippines (CCAP) welcomed its new Board of Directors for 2023 to 2024. The list of newly-elected members is a mix of industry players from outsourcing and software firms in the country. According to a post by CCAP Managing Director Rosario Cajucom-Bradbury, the new board is set to share their expertise and commitment to the organization’s goals, especially during the realization of the 2028 Roadmap.

A new report by the Philippine Institute for Development Studies (PIDS) is urging the government to provide accelerated and inclusive internet connectivity across the country. PIDS senior research fellow Ramonette Serafica and research specialist Queen Cel Oren stated that “reducing the digital divide in terms of internet access must continue to be the policy priority.” Serafica and Oren also underscored the importance of private-public partnerships in reducing the digital divide and the delivery of government plans and programs. In line with this, the Department of Information and Communications Technology (DICT) reported that over 4,700 live sites were activated in the Philippines in 2022. According to the DICT, their Broadband ng Masa (BBM)Free Wi-Fi for All programs, and the current administration’s push for digitalization helped widen internet connectivity for other sites across the country. For 2023, the agency plans to complete its Broadband ng Masa’s Luzon Bypass Infrastructure (LBI) Phase 1, launch more than 15,000 free Wi-Fi sites, and improve satellite connectivity in the country with Starlink and Satellite Systems Providers and/or Operators (SSPOs).

Agriculture is joining forces with artificial intelligence (AI) in the Philippine Department of Science and Technology-Advanced Science and Technology Institute’s (DOST-ASTI) new initiative. Called the Gul.ai Project, the department explained that this will help draw more young people to agriculture and ensure food security in the Philippines. A laboratory-scale prototype of the Gul.ai Project had already been deployed to the University of Rizal System (URS) Tanay Campus last November 2022 with plans to open the system in the commercial market in 2023.

So much to be excited about this New Year!

https://media.giphy.com/media/54swRINPlcNzoNNdAF/giphy-downsized-large.gif?__s=xxxxxxx

 

Wednesday, January 4, 2022

NEWS THIS WEEK

 

29 December 2022

28 December 2022

 27 December 2022

Start your
journey today

  • Independent
  • Secure
  • Transparent

Access fantastic talent at world-leading prices

Scale your business fast while reducing costs —
the average all-in employment costs in the
Philippines are typically 70% less than its
Western counterparts

Philippines United Kingdom Australia United States
Software Developer
$7,221
$39,913
$62,653
$81,994
HR Manager
$9,506
$46,669
$66,518
$78,007
Team Leader
$7,152
$31,174
$45,428
$75,823
Accountant
$5,959
$58,479
$67,190
$72,923
Copy Writer
$4,767
$52,088
$56,600
$62,653
Customer Service
$3,337
$22,137
$29,717
$35,275
Virtual Assistance
$2,285
$39,066
$42,240
$31,797
Select a role to view salaries
Philippines $7,221
United Kingdom $39,913
Australia $62,653
United States $81,994

Avoid guesswork. Talk to the experts, free.

Get 3 free quotes

You can save 70% on staff costs, whilst driving quality & growth. Connect with an outsourcing expert to see how outsourcing can transform your business.

Why choose us?
  • Independent and unrivalled expertise
  • We carefully match you from 3,000+ leading suppliers
  • Access to Outsourcing Savings Calculator & Report

Get Started

How many staff to outsource?

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO).

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between world-leading outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 3,000+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.