22/10/2014: US IT-BPM EXECS URGED: TAKE SECOND LOOK AT PHILIPPINES
WASHINGTON, D.C.—The information technology and business process management (IT-BPM) industry in the United States should take a serious look at the Philippines as it continues to be an ideal location for customer service and technical support outsourcing.
Ambassador Jose L. Cuisia, Jr. made this pitch to business executives and decision makers from Wall Street and Fortune 500 firms who attended a networking event hosted recently by the Philippine Consulate General in New York and the Seven Seven Corporate Group.
“The IT-BPM industry has been the fastest growing industry in the Philippines in the last 10 years,” Ambassador Cuisia said as he urged the executives from New York, New Jersey and Connecticut to seriously consider putting some of their investments in the Philippines.
“Our GDP growth accelerated to 6.4 percent in the second quarter of 2014. This bodes well for economic growth for the rest of 2014,” Ambassador Cuisia said. “We remain as one of the bright spots in the region, the second fastest growing economy among major Asian countries for the period.”
During the event, Consul General Mario De Leon briefed the executives on the positive growth being experienced by the Philippine IT-BPO industry.
Consul General De Leon said that based on the most recent report of the IT and Business Process Association of the Philippines, the IT-BPO industry directly employs 1 million Filipinos and is expected to earn $18 billion this year. He added that the industry also supports 2.5 additional jobs for each direct hire.
“The Philippines, now recognized as the number one provider of voice services, is determined to increase its market share for more sophisticated outsourced operations in such areas financial services, software design, medical and legal transcription, animation and gaming,” Consul General De Leon said.
The report also noted that by 2016, the Philippine business process management industry is expected to expand even more with projected revenues of $25 billion and direct employment for 1.3 million people, accounting for 7.8 percent of the Philippines’ GDP.
Consul General De Leon said Seven Seven has contributed significantly to this growth, being one of the first US companies to outsource from the Philippines. The company is currently being led by Mac Fojas, President, and Delle Sering, Chief Executive Officer.
Founded in Manila and New York in 1996, Seven Seven provides services in information technology, including application development, IT infrastructure support, technical helpdesk, and back office processes.
The Filipino-American company supports customers in North America, Asia Pacific and Europe in the banking, insurance, global consumer, telecommunications, pharmaceutical and healthcare industries.
The event was the fifth annual cocktail mixer that Seven Seven has hosted for sourcing executives and decision makers from the New York tri-state area. The first was in 2009 then Consul General Cecilia Rebong and Trade Representative Josephine Romero. ###