South East Asian RPO Market Likely to Hit USD154.7m
APR 04 – A new report predicts that the recruitment process outsourcing (RPO) market in Southeast Asia could hit a valuation of USD154.7m by the end of 2020, growing at a compounded annual growth rate of 19.3% from 2014. The report, released by Market Research Reports, added that the RPO market in the region has been segmented into Vietnam, Indonesia, Thailand, and the Rest of Southeast Asia.
The demand for RPO in the rest of Southeast Asia is also driven by the growing IT outsourcing industry in Myanmar and the Philippines. The market for RPO in Southeast Asia is driven by the advantages obtainable by using its solutions over traditional in-house recruitment processes, the report noted.
Growth in KPO to Buffer Cebu From impact of AI – Colliers
APR 05 – Despite the threat posed by the adoption of artificial intelligence (AI), Cebu’s outsourcing industry will continue to be protected because of its strengths in knowledge process outsourcing (KPO), according to Colliers International Philippines market analyst and researcher Joey Roi Bondoc.
Cebu will continue to get inflows of KPO investments in the coming years with high interest remaining among multinational firms to establish their shared-service facilities in the province. Established companies such as Lexmark, JP Morgan, Accenture, NCR, IBM and QBE are also expanding their current KPO operations in Cebu. The research backs up the comments of Cebu IT/BPM Organization managing director Wilfredo Sa-a Jr, who said the direction for Cebu is to now intensify its efforts to attract more KPO firms.
Global IT Services Deals Plunge by 33% in 2017
APR 06 – Global IT services deals and total contract value dropped by about 33% in 2017 from a year previously, according to a report released by GlobalData. The total contract value of IT services deals dropped to USD61.4bn, while the number of deals announced declined by 25.6% to 4,099.
The average contract value also posted a steep decline in 2017 compared to the previous two years. The report said that application outsourcing contracts were at the forefront of the total number of deals signed last year, accounting for 38.4% of the total. Infrastructure outsourcing contracts dominated the IT service contracts spend with USD31.8bn.
BPO Offices Account for 17% of Vista Land’s Portfolio this Year
APR 06 – Property developer Vista Land & Lifescapes (VLL) expects its business process outsourcing (BPO)-focused office portfolio to account for 17% of its total commercial space this year. Shopping malls will account for the rest of gross floor area this year, taking up 83%.
The developer also expects to match if not exceed its 12% growth in net profit last year. “We are taking advantage of the synergies that we have unlocked between our residential and leasing businesses,” said Vista Land chair and founder Manuel Villar Jr. VLL’s commercial property portfolio—consisting of 22 shopping malls, 50 commercial centers, and seven office hubs—had a combined GFA of 1.06 million square meters at the end of 2017.
BPO Firm 7.ai Confirms Data Breach
APR 06 – Business process outsourcing (BPO) company 7.ai has confirmed the discovery of a breach in its systems that may have affected the online customer payment information of a few of its clients. In a statement, the BPO firm said the breach began on 26 September 2017 and was discovered and contained by the 12 October.
The hack affected the data of customers such as Delta Airlines. US retailer, Sears Holdings, also announced that its customer data might have been affected by the hack. 7.ai claims that its platform is now secure and that it has worked with its clients to determine if any of their customer information was actually accessed in the breach.