US-based IT company Mphasis Corporation has expressed strong interest in establishing its first high-value business process outsourcing (BPO) operation in the Philippines, Commerce and Industry (DTI) Secretary Ramon Lopez has announced.
Lopez met with Mphasis Corporations CEO Nitin Rakesh and Senior Vice President and Global Head of Industrial Solutions Group Indranil Roy in late April while in the United States to discuss the company’s plans. to have its first BPO presence in the Philippines.
The American information technology (IT) company has expressed interest in the Philippines as a major investment location for its high value-added services with an initial workforce of 1,500 to 2,000 jobs in the centers of computer calls.
Roy also revealed that a number of their clients, who are major US banks and insurance companies, have advised them to look to the Philippines for their BPM operations, highlighting their preference for the Philippine brand of services and skills.
As Mphasis prides itself on being known in the industry as a customer-centric organization, it is willing to accommodate customer wishes such as setting up operations in the Philippines. The company provides IT services to banking and finance, healthcare, telecommunications, logistics and other high-tech industries. They employ approximately 40,000 employees across the globe, such as IT-BPO facilities in India, Mexico, Taiwan, Costa Rica, Germany, and the UK. Mphasis is a subsidiary of New York financial giant Blackstone Group.
Board of Investments (BOI) Managing Director and DTI Undersecretary Ceferino Rodolfo participated in the discussion. .
Rodolfo added that another resource they can tap into is the returning Overseas Filipino Workers (OFW) who have an experience advantage with their new knowledge and skills acquired in their respective countries. The ace. Rodolfo also outlined the benefits of the Business Recovery and Tax Incentives for Businesses Act (CREATE).
“Our country is increasing its ability to become a global player in IT services through the development of analytical and AI skills, a favorable competitive environment and cost savings. This ensures that investors can profitably service fast-growing international and regional markets,” Lopez said.
Despite the challenges, Lopez said the Philippine IT process management (BPM) industry hasn’t laid off workers during the pandemic. He mentioned that resources would not be an issue as the country has 49 million workers, generates 800,000 graduates per year, of which 30% come from the field of science, technology, engineering and mathematics (STEM) .
The Philippine information technology and business process management (IT-BPM) industry contributed a total of $26.7 billion and $23.8 billion in service exports in 2020. The Philippines have gained 13% of the global market share and serve North America, APAC and EU. Markets.
The industry contributed 1.3 million direct jobs and 4.5 million jobs with over 700 BPO companies in the country. The country’s startup ecosystem also has great potential to flourish with around 500 start-ups.
“Our continued efforts to upgrade the skills of our workforce and liberalize our industries through major economic reforms under the guidance and leadership of President Duterte, coupled with our strong economic fundamentals, have proven our ability to position Philippines as an ideal investment hub in Southeast Asia. We look forward to seeing how the next generation of leaders can continue to build on these successes,” said Lopez.
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