The Philippine business process outsourcing (BPO) is projected to grow 30 percent this year, or 15 percent higher than global rate, according to an executive of a leading BPO firm.
SPi Global president and chief executive officer Malik Parekh in a forum held in Makati City on Wednesday said the country's BPO sector is now growing faster than those globally.
"This is good news for us (BPO companies) based in the Philippines," he said.
Parekh also predicts that by 2016, revenues coming from the BPO sector worldwide will hit the USD124 billion mark, or significantly higher than the USD45 billion recorded in 2011.
The country's BPO labor force stands at 532,000.
Parekh expects it to hit the 1.3 million mark by 2016 due to the opening of new markets in Western Europe and Asia-Pacific region.
But despite the significant BPO growth in the Philippines, Parekh said, Filipinos should not be complacent.
To reap the benefits of the growing market for outsourcing services, they should develop their skills particularly to meet the needs of the non-voice sector, he noted.
Parekh said already majority of BPO companies are reporting that 58 percent of their revenues are coming from the non-voice sector compared to the 42 percent generated by the traditional voice-related services.
"BPO companies in the Philippines should re-orient their services in order to tap into this market as this service heralds the new era of the call center industry," he said.
Parekh said BPO companies should likewise introduce services needed by their clients to expand their niche in the field.
He also expressed confidence that SPi Global is well equipped to handle such challenge as the company has already sufficient number of personnel capable of handling such service.
At the moment, SPi serves more than 500 clients locally and globally, with some of them leading figures in the the banking, air transport and real estate businesses.
And to further protect the company from being caught unaware by any developments that could trigger a new service sensation, Parekh added, SPi has already created a new department which solely focus on research and other trends in the BPO field.
He is also confident that SPi will continue to grow in the BPO field due to its "solution centered, people centric and innovation centered" philosophy.
SPi is one of the world's most largest and diversified knowledge process and customer relationship management service providers in the country in terms of clients, geographic presence and capabilities with more than 14,000 dedicated employees globally.
It is also the largest Filipino-owned BPO company housing 11,000 employees in the Philippines. (PNA)