The Outsourcing Week in Review: Wednesday, December 26, 2018

Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

Despite global equity markets plunging in the run-up to Christmas, the outlook for Philippines outsourcing remains robust. The country will continue to enjoy solid economic growth in the coming years, according to the Bangko Sentral ng Pilipinas Deputy Governor, Diwa Guinigundo. Alliance Global Group, the owners of property developer Megaworld Corporation, is also confident that its office segment will see strong demand as BPO firms return to investing in the Philippines.  Against a backdrop of rising wages and high employment in the US, the appeal of outsourcing should remain strong. The news that Wells Fargo, one the US’s largest banks, has been quietly shifting work overseas is a case in point. Still, the call from the Cebu Chamber of Commerce and Industry that the government should be take great care in its rationalization of investors’ incentives in the new tax bill is a prudent one.  If the country is to get the business of the likes of Wells Fargo, it will need to compete against a growing number of international locations.

The week also saw more developments in the industry’s rapid transformation to meet the challenges of the future. MiraMed Global Services, the premier global provider of business process outsourcing solutions to healthcare organizations nationwide, introduced its new vice president of coding and client services, Kenneth Macklem. Software and outsourcing company Infosys is reportedly now planning to hire people with liberal arts and design skills to support its move into providing higher value services.  The Cagayan de Oro DICT did its bit by continuing the rollout of events aimed at boosting the appeal of IT-BPM sector to aspiring entrepreneurs.

The positioning of companies through acquisitions also continued apace. Industry giant Accenture has acquired no less than seven companies in the past two weeks ending off a voracious year. US payroll giant, Paychex acquires Oasis Outsourcing for US$1.2 billion, and Infosys sold off its stake in cloud computing company CloudEndure.

As the end-of-year awards season wraps up, some well known names in the local BPO industry did well. TCS was named best Asia Pacific employer by the Top Employers Institute; Datamatics was named best cognitive technology provider at the IT Innovation and Excellence Awards, held in Mumbai, India; and TaskUs was ranked as among one of best places to work by Glassdoor Employees’ Choice Awards. Concentrix also hosted its own big awards occasion in Manila to recognize top performers in its team. The success in best practice in the HR field is reassuring. The industry will need to tackle the challenge of adapting the sedentary nature of BPO work in ways to mitigate its negative impact on employees’ health. According to the Philippine Society of Endocrinology, Diabetes, and Metabolism, the country’s number of diabetics is expected to increase by 12 million by 2040. BPO workers are among those most at risk.

Wednesday, December 26, 2018

NEWS THIS WEEK

24 December 2018

• TaskUs among best places to work in – read more…
• Wells Fargo cuts jobs and moves them overseas – read more…
• Paychex acquires Oasis Outsourcing – read more…
  

21 December 2018

• Cagayan de Oro DICT runs event to help boost IT-BPM appeal – read more…
• TCS named best AsiaPac employer by Top Employers Institute – read more…
• Philippine economy will maintain growth – central bank – read more…

20 December 2018

• AGI bullish on office sector as BPO investment bounces back – read more…
• Datamatics named best cognitive technology provider – read more…
• Concentrix recognises outstanding employees in ceremony –read more…

19 December 2018

• Accenture acquires 7 firms in less than 2 weeks – read more…
• 1 million BPO workers at risk of diabetes – read more…
• Infosys hiring people with arts, design skills – read more…

18 December 2018

• Cebu business group tell govt ‘be cautious’ on TRAIN 2 – read more…
• MiraMed announces Macklem as new VP of coding and client services – read more…
• Infosys exits CloudEndure for US$15.3m – read more…

Read more Inside Outsourcing Newsletters here:

1. The Outsourcing Week in Review: December 19, 2018
2. The Outsourcing Week in Review: February 6, 2019