State of the Outsourcing Nation As of June 2017

September 8th, 2017

Business process outsourcing has made a sizeable impact on the economy of the Philippines, creating more than a million job opportunities for Filipinos. Its influence has been so strongly felt in the recent years that remittances by OFWs will soon be surpassed by outsourcing revenues.

According to Philstar writer Boo Chanco, it is expected to have more than 7 million by 2022. Last year, it has generated 25 billion dollars in revenue and is predicted to go to 40 billion in the next five years as well.

Should Philippine outsourcing continue to progress at this rate, it will comprise fifteen percent of the world outsourcing market.

This is, however, if things run smoothly. As this industry is now a key player in the country’s development, it may feel the effects of current world and local events more than others will. Political shifts in climate will also affect the operations of both new and established corporations in the Philippines-may it be an outsourcing company in Davao, Cebu, or Metro Manila.

Here are some of the latest news concerning the local BPO industry:

Data Privacy Asia 2017 to be held in the Philippines

One of the biggest summits in Asia dedicated to data privacy will be held on July 20, 2017 at Makati Shangri-La, Metro Manila. This may be beneficial for the outsourcing industry, as data privacy is important for the protection of the personal data of both clients and outsourcers. Nearby countries such as Singapore have strong data security. They will be able to share their knowledge in forum this 20th of July.

There has already been a mandate that ensures the safety of data privacy: Republic Act 10173 or the Data Privacy Act of 2012. With the addition of the upcoming conference, Filipino BPO companies can pick up pointers on how to improve their security even further.

Study by ILO says: Automation a risk to BPO employment

According to the International Labor Organization, majority of Filipino BPO workers are in danger of losing their jobs to robotic automation. Many jobs that were done by human virtual assistants are now performed by artificially intelligent VAs.

The industries that are vulnerable to unemployment are ranked as follows:

  • 89 percent – Business Process Outsourcing (BPO)
  • 88 percent – Retail and Trade
  • 70 percent – Hotel 8 percent – Banking

For other industries, their risk rate is at 42 percent.

Many companies have opted for an automated workforce as they require no rest days, therefore increasing production. This is in contrast to human employees that require at least one day of rest per week. Automation also lessens the budget allocated for employee salaries.

BPO Companies Concerned by Tax Benefit Reduction

The real estate consultancy firm Colliers International Group, Inc has stated that the recent cuts in the tax perks given to outsourcing corporations in the Philippines will hamper with the industry’s progress. It will lessen the country’s power as a competitive player in the global BPO market.

As of late, the Philippine government has been revising their taxation policies in hopes of increasing their budget for the various national infrastructure projects.

One of these revisions has targeted the incentives given to BPO firms run by foreign companies. Another has put VAT (value-added-tax) to sales made by outsourcing. Making BPO offices no longer VAT-free will make the country unappealing to those who wish to invest in the industry.

It should be noted that these tax perks are a large reason for the country’s attractiveness in the eyes of foreign BPO investors.

It remains to be seen if the latest national events will have a long-term effect on the status of the Philippine BPO industry. This only goes to show, however, the growing sway that outsourcing and outsourcing company in Davao holds over a large part of the country.

7 Simple Ways For Homeowners To Save Money And Be Environmentally Concerned

September 8th, 2017

It is often said, home ownership is an essential component of most people’s American Dream, but, while, it should be, once someone has bought the home of their dreams (or the best they might afford, etc), it is important to consider economic considerations and/ or challenges, as well as hopefully, being environmentally concerned and responsible. While there are numerous green housing possibilities, this article will review, briefly, 7 simple, relatively inexpensive. environmentally responsible actions, etc. After all, it doesn’t help the environment, in any meaningful way, if one can’t afford to do what’s necessary, and/ or needed.

1. Energy – efficient lights: What type of light bulbs are you using? There are bulbs available, today, which are far more energy – efficient, often using less than a fourth of the wattage, required by a conventional bulb. Doing this, not only saves energy costs, but helps the environment!

2. Turn lights off: The bane of many parents of teenage children, is having to follow them around the house, in order to turn the lights off, behind them! Many commercial establishments have installed motion detectors in rooms such as bathrooms, hotel guest rooms, certain hallways, etc, in order to save money, on their energy costs. Turning lights off, is simple and easy, but we often fail to pay sufficient attention, to the simplest of tasks!

3. Energy efficient appliances: Many older appliances are far less energy – friendly, than newer ones. These include: air conditioners; stoves/ ranges/ ovens; refrigerator/ freezers; etc. Imagine how our environment might benefit if more people addressed these issues?

4. Insulation: Quality insulation reduces waste, whether someone lives in a warmer or colder climate. Consider the rating of the insulation, and pay attention to areas where there is often a lot of loss, such as from outlets, roofs, etc. In cold weather, one would use less heat, and in hot weather, less air conditioning!

5. Doors and windows: Examine your doors and windows. Are your doors hung properly, and are they made and fitted properly? Is there any air – leakage, coming from your windows? Are your windows and doors, energy – efficient?

6. Air leaks: Are there any air – leaks, coming from windows, doors, air conditioning openings, your attic and/ or basement?

7. Thermostat: What temperature to you keep your thermostat at? Every one degree, you raise the setting in summer, or lower, in the winter, saves lots of energy and expense! Statistics show, setback – thermostats, are energy – efficient, inexpensive to install (pay for themselves quickly), and, therefore, save money.

If we all do our small part, even incrementally, we will make a big difference, for the better, in our environment, as well as saving lots of money. Will you participate in this worthwhile effort and endeavor?