Most outsourced service providers are in a quandary since the second quarter of this year, with the global economic downturn threatening the market for off- and on-shore outsourcing demand. The major players across many industries have either cut thousands of jobs or asked for government support.
Though at first look, a slowdown or recession in the US, which accounts for 75% of the Philippine BPO exports, may seem very negative for the health of the industry, the cloud is not without its silver lining. While the winding down of economic activity will negatively impact service providers who depend too much on US corporate expansionary, marketing or support activities; the cost pressures may also encourage new US companies to look at outsourcing for the first time.
The tough state of the economy has put even the biggest companies in dire straits. Small and medium size companies who struggle to stay afloat in this financial and economic melt-down may look to find outsourcing as the next alternative.
Though at first look, a slowdown or recession in the US, which accounts for 75% of the Philippine BPO exports, may seem very negative for the health of the industry, the cloud is not without its silver lining. While the winding down of economic activity will negatively impact service providers who depend too much on US corporate expansionary, marketing or support activities; the cost pressures may also encourage new US companies to look at outsourcing for the first time.
The tough state of the economy has put even the biggest companies in dire straits. Small and medium size companies who struggle to stay afloat in this financial and economic melt-down may look to find outsourcing as the next alternative.
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