Customer support call center revenues to overtake remittances

Customer support call center revenues to overtake remittances

OABPO Blog Team Published on October 23, 2013
customer-support-call-center-

The next five years are seen to be favorable to the business process outsourcing (BPO) sector as its earnings are forecasted to total higher than the overseas Filipino workers (OFW) remittances.
The current revenue of BPO companies, particularly customer support call centers, amounts to about $16 billion while OFW remittance is roughly $24 billion. The 10% growth rate of BPOs will exceed this year s $16-billion revenue to $20 billion in 2014, so the eventual overtaking is highly possible, Monetary Board official Felipe Medalla predicted.
Medalla added that the growth will mean more jobs for Filipinos and reflect prosperity on other industries. Food and property sects will take advantage of the opportunity by extending operations and opening more branches in the country s major business districts where most outsourcing companies are situated.
It s creating employment, demand. Many of these restaurants will not be there without that. Quite a bit of demand will not be there. Demand for condos will fall without that, Medalla stated in an interview during the 39th Philippine Business Conference and Expo.
The challenge now is for the BPO industry (including customer support call centers) to remain as one of the country s economic drivers. Its strength relies mainly on the workforce, so Medalla pressed on improving the quality of Philippine education to produce competent professionals. This may mean that private education and training institutes will benefit from the expansion as well.
OFW deployment, on the other hand, continues to surge along with the money that OFWs bring in to the country. This resulted in a 6.8% remittance increase in the first eight months of 2013, as reported by Contact Center Association of the Philippines (CCAP).
The majority of the remittances come from countries such as the USA, the United Kingdom, Canada, Saudi Arabia, the UAE, Singapore, and Japan.
Open Access BPO is an offshore outsourcing company that offers back office services including digital marketing, web services, and rich media development. Visit our website or add us in your Google+ circle to learn more about the company and our services.
 
 

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO2 days ago
How do #tech companies boost customer relations? Find out how #CustomerSupport outsourcing creates opportunities for better customer experiences and business growth: https://zcu.io/4T2V

#WeSpeakYourLanguage #Outsourcing
Open Access BPO
Open Access BPO4 days ago
Businesses that can speak their customers’ language have the upper hand in foreign markets. But which #CustomerService languages should you include? Consider these top five languages to ensure global success: https://zcu.io/x5QC

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO7 days ago
The #outsourcing industry is faced with its own technical and natural crises. Check out these #CrisisManagement tips to ensure that your #CallCenter stays uninterrupted when dealing with unexpected situations: https://zcu.io/v3J0

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
Asking the right questions enable #CallCenter agents to determine the root causes of an issue. This helps drive conversions 30% higher.

See how more of these #CustomerService insights can improve your support strategies: https://zcu.io/Vn6G

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
#ContentModeration is a vital tool for preserving a brand's positive online reputation. Here are figures that demonstrate why every company needs a team to manage their online #content: https://zcu.io/x5LW

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO2 weeks ago
Many businesses are hesitant to outsource for fear of losing their competitive edge. Experienced outsourced #CallCenters help you maintain this while enjoying the advantages of #offshoring: https://buff.ly/3a1J4V8

#WeSpeakYourLanguage #BPO
Do NOT follow this link or you will be banned from the site!