Philippine BPO: Alive and Kicking

It was a happy day indeed when the Philippine Central Bank announced late last week that the country’s balance of payments (BOP) registered a surplus of $1.7 billion during the first quarter. It is being attributed to the reduction of the trade deficit, the remittances coming in from abroad, and the revenues from the thriving business process outsourcing (BPO) industry. This is great news as this surplus will not only increase the Philippines’ gross international reserves and offset losses in other sectors (such as exportation of goods), but will support the economic activity for the rest of the year.

This is a huge validation for Philippine BPO. And yet it needs to be pointed out that this was by no means an accident. It comes on the heels of hard work and the coming together of different sectors. Last June 1, 2009, for instance, the Metro Rail Transit-Line 3 (MRT-3) ferried over 5,774 Metro Manila passengers to kick off their 24-hour operation. Although this schedule was adjusted after two days and it was settled that a “midnight train” to run from eleven in the evening to four in the morning the next day will instead be in place, this is still a huge help to the thousands upon thousands of BPO employees of Metro Manila. Previously, all MRT trains plied their routes only from five in the morning til ten in the evening. This is also in direct support of President Gloria Macapagal-Arroyo’s program to provide assistance to the growing BPO industry. Most BPO employees clock in and out at work between midnight and four a.m. to meet the business hours of the clients abroad. Because of the unavailability of jeepneys and buses during these unholy hours, most of these workers often have to resort to taking taxis, considerably the more expensive mode of public transportation. The MRT-3’s initiative is therefore a godsend because MRT fares range from just p10 to p15.

Another development is the forum on the outsourcing industry being sponsored by Public Affairs Committee of the Financial Executives Institute of the Philippines (Finex). On August 19, 2009, Makati’s Hotel InterContinental will host “Outsourcing in Challenging Times” with Business Process Association of the Philippines (BPAP) chief executive officer Oscar Sanez and chairman Fred Ayala as keynote speakers. Simply put, the forum aims to address the question most companies have: “to outsource or not to outsource.” Amidst the global financial crisis, there are still businesses that have yet to leverage the advantages of BPO. The forum to be held among industry leaders, major players and existing and prospective clients will highlight major outsourcing drivers, not least of which outsourcing being a survival strategy.

Philippine BPO is truly alive and kicking!