The Outsourcing Week in Review: Wednesday, February 13, 2019

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THE WEEK IN REVIEW

It was a good week for the Department of Information and Communications Technology and its mission to improve the nation’s broadband services. Not only did the restructuring of the Mislatel Consortium, the new third telecom provider, pass approval in the senate, but the department also received a P23.8 million grant from US Embassy to put towards the roll-out of broadband services.

There was more good news from the government. Three proposed bills that will amend the Foreign Investment Act, the Retail Liberalization Act of 2000, and the Public Service Act, and which intend to reduce restrictions on inbound foreign investment, received a warm reception from the Joint Foreign Chambers of the Philippines. The flexible work arrangements bill that aims to formalize regulation of remote working also passed its second reading in the senate. Even the controversial TRABAHO bill, with its provision to support training, has received the acceptance of the Nordic IT-BPO sector, according to the Nordic Chamber of Commerce of the Philippines.

Financial reporting season continued for the big beasts of the industry with Firstsource announcing its revenues were up 11% in the last quarter of 2018, and Conduent announcing its results will be out later this month. Concentrix said that it will be laying off more jobs at its Watertown office in the US. On the acquisition front, accounting and tax software firm inDinero acquired mAccounting; and Accenture completed its acquisition of Canadian firm Zafin. Accenture also announced that it is teaming up with Microsoft to create a 45,000-strong team to support its clients’ digital transformation programs.

In the Philippines, property consultant Knight Frank maintained its forecast for robust demand for office space this year. Accenture Philippines was awarded the EDGE Move Certification for promoting gender equality, the first Philippines-based firm to be given such an award. Telus Philippines also picked up a silver award for its ‘Telus Days of Giving’ program in the Anvil Awards for CSR.

Jennifer Que, Philippines country head of Chinese online English teaching platform 51Talk also suggested that teaching English as a foreign language could be added to the country’s educational curriculum. The company has big plans for hiring English teachers in the Philippines, and with the online education sector hitting US$40.4 billion this year in China alone – a 16% rise from last year, – such training could offer strong support for a new growth market, as traditional voice services start to wane.

Wednesday, February 13, 2019

NEWS THIS WEEK

11 February 2019

• US grants Philippines PHP23.8m for broadband project – read more…
• Foreign business groups welcome 3 bills easing foreign investment regulations in Philippines – read more…
• Accenture completes acquisition of Canadian firm Zafin – read more…

8 February 2019

• Concentrix to lay off 117 more workers at US site – read more…
• Conduent to announce Q4 results on 20 Feb – read more…
• Mislatel passes Senate approval as third telco player –  read more…

7 February 2019

• Accounting and tax software firm inDinero acquires mAccounting – read more…
• Microsoft, Accenture form 45,000-strong team – read more…
• Flexible work arrangements bill passes second reading in Senate – read more…

6 February 2019

• Office space demand still robust for 2019 – Knight Frank – read more…
• Telus Philippines wins silver in Anvil Awards for CSR – read more…
• Firstsource revenues up 11% in last quarter of 2018 – read more…

5 February 2019

• Accenture Philippines wins award for promoting gender equality – read more…
• Nordic investment warming to TRABAHO bill says NordCham – read more…
• English as a foreign language can be part of college curriculum – 51Talk – read more…

Read more Inside Outsourcing Newsletters here:

1. The Outsourcing Week in Review: February 6, 2019
2. The Outsourcing Week in Review: February 20, 2019