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The business process outsourcing BPO sector is confident it can weather the current global financial storm and meet its 2008 growth target of 40 percent, generating revenue of about USD7 billion.Top officials of the sector have even gone so far as to predict that revenue in 2010 may reach up to USD13 billion.Oscar R. Sanez, chief executive of the Business Process Association of the Philippines BPAP, said businesses continued to look for ways to cut costs because of the financial situation, and one way is to outsource business processes.
The Philippines will still be in the best position to present itself as a viable outsourcing location because of its ITBPO industrys popularity and proven track record of success, Sañez said at a news briefing.
BPAP still expects growth, although there would be a cooling down in terms of growth numbers.
He said the industrys growth could slow down for a while, but it would not fall below its present doubledigit level.
If there is any interference, it would be shortterm, Sanez said. We are still able to sleep at night.
The industry serves such a wide range of businesses that the impact of the financial crisis will not be devastating, he said. In fact, we are in talks with several big players on possible contracts, including those with players in the financial services sector.
Sañez also said the BPAP had embarked on an even more aggressive marketing campaign to offer the industry as the ideal solution for international firms affected by the financial crisis.
We also plan to tap other industries, aside from banking and finance, like engineering and design, telecommunications, creative enterprises, retail, high technology, and logistics, he added.
Sañez said BPAP officials were scheduled to do a round of highprofile events to expand reach in nonUS markets, including the United Kingdom particularly through the National Outsourcing Associations summit to be held in London in November Australia, Germany and Singapore.
We are watching closely the situation in the US, he said. In terms of impact, there have been so far no cancellations of projects nor reduction in budgets by clients.
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