2009 saw a slew of economic hurdles for not just the Philippines but the entire global market. Finances were down, companies were closing and organizations frantically searched for alternatives to cut costs. While the Philippine BPO industry remained strong against both the economic struggles and natural calamities that came our way, 2009 wasn’t the best year for everyone. January of 2009 saw the massive Accenture layoff, cutting as much as 500 workers in the outsourcing business. At the same time, Intel shut down its Philippine operations, adding a whopping 1,800 workers to the unemployed count. February brought good news to the table, with Business Processing Association of the Philippines (BPAP) reporting a significant 25% increase in the local BPO industry’s revenue from 2008 up to early 2009. It was a solid testament to the popular demand in services that only the Philippine BPO industry can provide.
This year, we are all looking forward to another 365 prosperous days of hard work paired with great results and fulfilling rewards. It seems that the Philippines is off to a good start with yet another global BPO giant becoming part of BPAP.
PR Newswire reports that Stream Global Services, Inc. was recently inducted into the BPAP. Stream Global Services, Inc. is a premium business process outsourcing service provider specializing in customer relationship management (CRM) and provides services such as revenue generation, customer retention, customer care and technical support for its Fortune 1000 clients. In 2008, Stream opened its first Philippine branch in Manila, where they grew rapidly to acquire eTelecare in October 2009. Stream Global Services is partners with a number of leading global companies in a wide array of industries including technology, computing, telecommunications, retail, entertainment and media and financial services companies. The global organization’s Philippine branch is comprised of over 12,000 employees situated in 10 service centers in the country. Worldwide, the organization spans 30,000 employees in 50 solution centers in 22 countries.
Today, Stream Global joins BPAP in its mission to further promote the Philippines’ BPO industry to existing and upcoming markets and assist in the development of the industry to accommodate further growth. Stream Board of Directors Vice Chairman Fred Ayala currently serves as chairman of the group.
“Stream and BPAP share a common commitment to ensuring the success of the outsourcing industry in the Philippines,” Stream’s Chairman and CEO, Scott Murray said during the BPAP’s annual meeting in Makati City. “We are thrilled to be inducted into such an important industry consortium. We believe our involvement reinforces our ongoing commitment to both the Philippines and our ability to provide world-class services to our clients’ customers on a consistent basis.”
Moreover, he points out one of the core competencies of the country, saying, “The fast-growing Philippines region is perfectly suited to support our global client base, with its highly technical support professionals and entrenched commitment to the contact center industry.”
With this kind of publicity, the BPO industry is hoping to tap more markets and attract more investors to experience BPO service that is uniquely Filipino. Local financial experts have already expressed their optimism for 2010 with the upcoming Presidential Elections facilitating an outflow of cash and expenditures to stimulate the economy. More likely than not, this optimism will carry over to the months succeeding the election, when the nation starts over with a new President to lead the way to further economic development not only in the BPO sector, but other industries as well.