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Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms.
US$ 40 to 55 billion by 2020
1 million Filipinos
The BPO sector only accounted for 0.075% of the GDP in 2000 but rose to 2.4% in 2005 which indicated a great potential for generating employment. In this sector alone, it reached a staggering one million workers by 2010 and accounted for 27% of all new jobs
In 2003, the Convergys Corporation opened up two more call centers in the Philippines. It was at that time when Jack Freker, the president of Convergys Corporation, announced the incorporation of the Philippines in the revenue generation plan and the global expansion of the company.
In 2001, a US-Based outsourcing center called the "People Support" had its operations moved to the Philippines, generating 8,400 jobs for the country.
In 1995, the Special Economic Zone Act, thus establishing the Philippine Economic Zone Authority, was passed by the Philippine Congress. This Act provided lower area requirements for developments and tax incentives, which consequently attracted foreign investors.
The IT-BPO industry started from a single contact center, the Accenture Global Resource Center, which was founded by Frank Holz in 1992. This marked the beginning of the local BPO industry in the country.
People Support
1992
27%
Accenture Global Resource Center
1995
PEZA (Philippine Economic Zone Authority
Convergys Corporation