News and Events
Strong Demand for Offshore BPO Services Expected to Continue in 2009
Manila, Philippines (November 11, 2008) – The Philippine IT Offshore Network, Inc (PITON), a strategic offshore BPO consulting firm specializing in providing strategic business process outsourcing (“BPO”) advisory and project management services to North American and European corporations announced today its plans to further expand its vendor network in order to cope with the surge in demand for offshore BPO services in 2009.
The global BPO size is expected to reach US$ 180 billion in 2010. The demand for BPO-related services has stiffly increased by more than 30% annually over the past five years, and industry experts are convinced it will continue to gain momentum within the next decade.
“The increasing number of companies seeking cost savings, improved quality of performance and global competitiveness, paired with the proliferation of BPO service providers and emergence of new service offerings are accelerating the growth of the BPO industry”, says Ralf Ellsperman, Chief Executive Officer of PITON.
The Philippines, one of the world’s leading offshore BPO hubs, has experienced extraordinary increase in revenues over the last five years. At an annual growth rate of more than 25%, the country’s BPO industry has sky-rocket from US$ 350 million in 2001 to US$ 12 billion in 2008.
The country’s key competitive advantages over India and other offshore options, such as its close cultural affinity to U.S. (resulting from being a U.S. protectorate for over five decades); the Filipinos’ world-class “American English” proficiency; the availability of highly educated and skilled workforce; the fully-redundant and cost-efficient telecommunications infrastructure; and above all, the country’s competitive cost structures, are expected to spur more growth for the industry.
PITON sees that the Philippines has yet to gain tremendous benefits from offshore BPO, especially that despite the enormous demand in the past, the global market has not been tapped completely. In fact, only 12% of all BPO services are offshored to low-wage countries like the Philippines. Also, although 90% of the BPO market came from the U.S., the number of companies engaged in offshore BPO activities comprises less than 10% of all small, medium and large enterprises in the U.S.
As more and more companies give in to the pressure of manifesting their global footprint through BPO in the midst of expanding global economy and rapid technology innovations, PITON will help the Philippines in seizing this gigantic opportunity. By expanding its vendor network to satisfy the ever-increasing demand for BPO services, PITON is one with the Philippines in its quest to gain massive ground and increase its share in the overall BPO market.
About PITON
PITON is a leading Philippine-based consulting firm specializing in providing strategic business process outsourcing (“BPO”) advisory and project management services to North American and European corporations. PITON’s offshore BPO services are designed to help companies to successfully migrate various business processes to leading Philippine-based BPO vendors in a risk-free environment. With a 100% on the Philippines’ BPO industry PITON’s key value proposition lies in its unmatched market and vendor expertise. Backed up by a network of the country’s premier BPO service providers PITON ranks as the largest and leading BPO vendor network in the Philippines.
For more information, please visit our us at www.piton-global.com
For additional information please contact:
Denise White
VP-Public & Media Relations
Email:denise.white@piton-global.com
URL://www.piton-global.com
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