The Outsourcing Week in Review: Wednesday, November 7, 2018

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THE WEEK IN REVIEW

The transition from traditional BPO services to those that are increasingly technology supported featured prominently in the news last week. The Oxford Business Group published a report that growth in creative industries is expected to boom in the country, and will be vital to offset the slowdown that may result from a prolonged trade war between China and the US. Already the KPO sector is making an impact on the country’s property market outside of Metro Manila, with demand from KPO locators in Cebu City sustaining its office rental market, according to Colliers. With a new airport terminal, nearby Mactan Island plans to emerge as a business hub, and the Cebu City government’s drive to promote the city as a center for digital innovation looks a prescient move. The emerging sector of financial technology (fintech) also did well, with Hong Kong-based Asia Premier International formally setting up through the Cagayan Economic Zone Authority along with 16 other offshore fintech locators.

Success in the industry’s technology transformation, however, requires the long overdue upgrade of the country’s internet services. According to a report by the Economist Intelligence Unit, the Philippines still has the slowest internet speeds in Asia. Thankfully, the program to select a third telco provider is gathering place, with local firm Converge ICT Solutions joining foreign players China Telecom, Norway’s Telenor, Austria’s Mobitel, and South Korea’s Koreatel, in submitting formal bids. With increasing dependence on technology, online security risks will also become more significant. A new Accenture study showed that mobile computing will increase cyber security risks for organizations, as will the increased use of artificial intelligence.

Meanwhile, Alorica continued its roll-out in the country, adding two more sites in Pasay and Angeles to it its existing 18. VFS Global announced it will be handling German visa applications in the country, and iQor won three top awards at the Asia CEO Awards. Indian giant Wipro added a top Indian banker to its board. Arundhati Bhattacharya was the first woman to chair the State Bank of India, and she brings a wealth of experience in digital transformation and financial expertise to the company. After some employment spats last year, Baguio City Council is backing six bills to improve BPO safeguards for staff in the city.

Traditional voice-based business also received a boost during the week. According to international education company, Education First the Philippines is now second only to Singapore in English proficiency in Asia, and ranked 14^th worldwide.

Wednesday, November 7, 2018

NEWS THIS WEEK

5 November 2018

• Alorica continues expansion in Philippines and Japan – read more…
• Cebu City, province lauded for promoting digital innovations – read more…
• US-China trade war to disrupt ICT sector in Philippines – read more…

2 November 2018

• KPO sector buoys up Cebu’s office space demand – read more…
• Philippines second only to Singapore in English proficiency in Asia – read more…
• iQor wins three top awards at Asia CEO Awards – read more…

1 November 2018

• Creative industries to drive regional economic growth— OBG – read more…
• Converge ICT Solutions vies for third telco spot – read more…
• Top Indian banker appointed as an independent director at Wipro – read more…

31 October 2018

• HK firm granted offshore virtual currency exchange license – read more…
• Baguio City Council backs 6 bills upgrading BPO safeguards – read more…
• Mactan emerging as business hub – read more…

30 October 2018

• VFS Global to launch 36 visa centers in Asia Pacific – read more…
• Four foreign firms vie for 3rd telco slot – read more…
• Accenture study shows mobile computing a security risk – read more…

Read more Inside Outsourcing Newsletters here:

1. The Outsourcing Week in Review: October 31, 2018
2. The Outsourcing Week in Review: November 14, 2018