Philippines BPO sector attains 50% target, revenues touch $4.7 billion

The Philippines BPO industry has been successful already in achieving $4.7 billion of the total $9.4-billion revenue target for 2010 year, while the business process outsourcing firms in the country have reported as high as 50 per cent growth in revenue expansion.

A report quotes Oscar Sanez, the BPO Association of the Philippines (BPAP) president, saying that a survey conducted by the nodal organization has revealed that as far as revenue growth is concerned, more than 50 per cent of its associates are developing at a pace of anything between 6 and 50 per cent. The BPAP president said that he was positive that the BPO sector would be able to achieve its annual target of $9.4 million this year, as more revenues are expected during the second half of 2010.

It may be noted that the BPO industry in the Philippines had earned revenues worth more than $7.2 million during 2009. During the current year the BPO Association of the Philippines is expecting revenue growth to the tune of 26 per cent to 30 per cent over the revenue earnings in 2009. In fact, the revenue earnings during 2009 had showed a 19 per cent growth over the corresponding period in 2008.

According to Oscar Sanez, the Philippines BPO industry currently makes up as much as 60 per cent of the entire services export of this country. He attributed the rapid growth of the BPO sector in the country to the continual multi-sitting as well as multi-processing operations of the business process outsourcing firms in the Philippines, which, after India, is ranked second in the list of most favored outsourcing destinations globally. Already Bacolod, Cagayan de Oro, Davao, Dumaguete, Santa Rosa, Iloilo, Lipa, Malolos, Baguio and Metro Cavite (including Imus, Bacoor and Dasmariñas) have been identified as the top 10 emerging BPO destinations or ‘next wave cities’ in the Philippines.

In order to further up hold the country’s BPO industry to the global outsourcers, the BPAP is organizing a belligerent canvassing during the second half of 2010. The BPAP promotion would also include pitching for the country’s BPO industry at the World Forum scheduled to be held in New York as well as separate campaigns in Zurich and Florida. The BPAP campaign would especially focus on countries like the United States, European Union and Australia.

Meanwhile, another website reports that the US-based BPO major Convergys Corp. has already announced that the firm will launch a recruitment drive aimed at filling in the positions created owing to its five centers in the Philippines – one each in Cebu City and Bacolod City and three in Metro Manila. In all, the firm intends to hire 3,600 professionals raising its workforce strength in the county by 17 per cent.