By BERNIE CAHILES-MAGKILAT
The Philippine SME-BPO industry has the potential to create 30 million jobs that can truly transform the country and its economy, according to an industry player.
“The Philippines has always been on the map when it comes to outsourcing, but I think we’re only just beginning. In fact, there are still 30 million jobs that may potentially come in the Philippines, and I think that can truly transform the country and its economy,” said Derek Gallimore, Founder of Outsource Accelerator, at the recent Payoneer Forum Manila.
The challenge though, he said, is how to keep the Philippine SME-BPO industry globally competitive.
Nicki Agcaoili, Executive Director of IBPAP believes that to keep the industry globally competitive, the effort from both the organization and its employees should go both ways.
“I think it is of utmost importance to not restrict yourselves when it comes to incentivizing your employees. Knowing how creative Filipinos are, we can say that we are already equipped with the evolving tools and skills that we need. The best thing to do to keep that momentum is to provide them with incentives that are tailored to fit their needs, whether it’s food, transportation, or remote work benefits. More than anything, investing in trainings is also another key. We have to support them so they can continually learn,” said Agcaoili.
Another reason Filipino entrepreneurs and MSMEs are constantly becoming globally competitive is the existence of various companies that cater to their business needs. One of them is Payoneer, which is a cross-border digital payment system in the service of entrepreneurs and MSMEs.
The agility of the Filipino talent has always been the main reason why the local BPO industry stays afloat, but through the collaboration of various companies, stakeholders, and employees, more people can feel empowered to pursue their own business paths which can help the industry as a whole to flourish even more.
The BPO sector is widely known as an economic powerhouse in the country. Comprising of 851 registered BPO companies and employing around 1.2 million people, the industry has come full circle since its first call center came into being in 1992.
Providing top-notch support, the country’s BPO industry has cemented its unique position in the global arena, showing sterling competitiveness and bearing comparison with its counterparts in neighboring Asian countries.
Miguel Warren, Payoneer’s vice president for South East Asia and Pakistan and General Manager of Hong Kong said, “What Payoneer does is it makes transactions easier and more efficient to send and receive international payments. We are a global platform that actually connects users regardless of where they come from, so it’s easier for one to receive money in dollars and then withdraw it in your local bank using your own currency. We also offer several other ways to use the funds, whether sending it to another Payoneer user or getting another optional debit card that you can use online and in-store. The best thing is that the whole journey is easy and seamless, making sure that every user gets the best customer experience satisfaction.”
Payoneer, the digital payment platform empowering businesses around the world to grow globally, recently announced that it has acquired optile, a Munich-based tech company that streamlines payment acceptance processes for merchants worldwide.
Founded in 2010, optile’s open payment ecosystem puts merchants in control of their business with the flexibility to add payment options and partners as their needs evolve, boosting conversion and improving customer experience.
Optile’s payment orchestration platform (POP) is designed for businesses to scale faster to new markets, consolidating all the players of the global payment market together in one unified layer, ensuring transparency, flexibility, redundancy and independence. The transaction is expected to close within the next two months.