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Bpo Industry

In: Computers and Technology

Submitted By frances19
Words 389
Pages 2
CHAPTER 1
THE PROBLEM AND ITS SCOPE

INTRODUCTION

Rationale

One of the fastest growing industries in the world is the Business Process Outsourcing or commonly known as BPO. It is now an emerging industry in the Philippines. From an article by Babe G. Romualdez of the Philippine Star, it is stated there that a major reason why the country has emerged at the top of the call center industry, aside from lower labor costs, is the skill of the young workforce. US companies most especially prefer Filipinos because of their familiarity with the language, not to mention that their accent comes close to that of Americans. It also helps that Filipinos are more patient – a trait that comes in very handy in handling inquiries and complaints from angry customers. According to Rob O’Malley’s research, the BPO has been one of the fastest growing sectors in the Philippines in the past 7 years. By 2010, revenues are projected to reach US$ 12.2 billion, showing a five-year compounded annual growth rate (CAGR) of 38% (SGV Industry Bulletin- BPO edition). The bulk of this amount will be counted for by the call centers. In the global arena, the Philippines consistently rank among the top 5 BPO locations. The country continues to be an attractive location for offshore voice BPO (call center) services due to its supply of English- speaking professionals, low labor costs and availability of a good telecommunications infrastructure. In an interview with Philippine Daily Inquirer by Noli A. Ermintanio, CCAP executive director Jojo Uligan said the BPO industry in the Philippines “is still going strong compared with those in other countries and in spite of what is happening in the global economy”. According to him, a large number of people still want to join the industry, especially young professionals, fresh graduates and even those still in college. Further stating in the

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