BPO giants to drive job creation in the sector
MANILA, Philippines - Global business process outsourcing (BPO) giants in the country are expected to drive the creation of more than 500,000 new jobs between 2013 and 2016, House Rep. Roman Romulo said.
"Of our than 800 BPO players, we see the heavyweights hiring most aggressively over the next three years," Romulo said in a statement.
"The larger BPO firms have cost advantages. Owing to their size, they can easily offer both existing and new clients all kinds of back office and business support services at highly competitive prices," he added.
Romulo is pertaining to the likes of Accenture, Inc., Convergys Philippines Services Corp. and Teletech Customer Care Management Philippines, Inc., which are among the largest BPO firms in the country by gross revenues and number of employees.
The House representative is the author of Republic Act. No. 10173 or the Data Privacy Act of 2012, signed into law in August.
The law is expected to strengthen the country's IT-BPO sector as it puts in place measures to protect and preserve the integrity, security and confidentiality of personal data collected by government and private entities in their operations.
The Business Processing Association of the Philippines (BPAP) expects the industry to rake in $23 billion in revenues and employ 1.3 million by 2016.