The local BPO (Business Process Outsourcing) sector's target revenue for this year is $13 billion, Business Processing Association of the Philippines' (BPAP) Martin Crisostomo said in an interview with Philippine Star's Louella D. Desiderio. The projection is based on expected higher revenues brought on by an increased demand for non-voice and voice subsectors of the Philippines' BPO industry.
Crisostomo added that last year, the BPO sector hit $10.9 billion in revenues and that the expected 19 percent increase in revenue "almost $ 2 billion" for this year is possible as companies abroad aim to concentrate on their core operations and become more competitive.
"Outsourcing," Crisostomo said in the same interview, "is a factor that makes businesses more competitive. It (outsourcing) is becoming part of the business model."
He added that with more businesses requiring new services and complex skills like health services info management, accounting, financial services and software development, the non voice subsector of the BPO industry is expected to expand in 2012.
The voice subsector, on the other hand, will continue to grow as the country, given the proficiency of many Filipinos in English, remains the preferred customer service provider.
Crisostomo added that many analysts project that global revenues of BPO companies will increase to about $25 billion by 2016 and that the global demand for services provided by the world's BPO sector will see a two-fold increase in the next few years.