The development and expansion of non-voice services such as engineering design and animation will be among the major drivers for the growth of the IT-BPO (Information Technology-Business Process Outsourcing) industry in the Philippines. According to a top executive of the outsourcing unit of Wells Fargo, a leading US bank, the prospects of developing segments of non-voice BPO are huge.
David Caldwell, managing director of Wells Fargo Philippines Solutions Inc., said recently that there are great prospects for the country's animation industry because of the Philippines' "sectoral advantage."
Wells Fargo Philippines Solutions Inc. is among the subsidiaries of Wells Fargo, the fourth biggest bank in the United States.
Caldwell lauded the "sophisticated talent and creative instinct of Filipino animators" that help make the country the preferred outsourcing partner of major international production outfits worldwide.
The Wells Fargo executive added that these international production outfits rely on animators from Philippine outsourcing firms because of English proficiency, lower costs, consistent quality and output speed; as well as higher comprehension ability, particularly regarding storylines and concepts, compared to their Asian counterparts. Caldwell added that the Philippines has "robust infrastructure to support relevant animation activities."
According to Caldwell, another fast growing non-voice BPO area is the $250-million engineering design sub-sector, which is growing at more than 50% annually.
The Well Fargo exec - who also cited data that shows that the non-voice sub-sector of the Philippines' BPO industry grew from 15 to 20% in the period 2006-2010 - said that the promising segments of the non-voice sub-sector also include legal transcription, information technology services, knowledge process outsourcing, and back office services.