Another US information technology company plans to set up business processing operations and create 2,000 jobs in the Philippines, the Department of Trade and Industry said Monday.
The DTI met with New York-based Mphasis Corp., which unveiled its intention to join the growing BPO market in the Philippines.
“Our country is increasing its capacity to become a global player in IT-enabled services through the provision of analytical and AI skills development, competitive enabling environment, and cost efficiencies. This, thereby, ensures that investors can profitably serve international and fast-growing regional markets,” said Trade Secretary Ramon Lopez.
Mphasis chief executive Nitin Rakesh said company plans to set up an IT-BPO hub that could offer up to 2,000 IT call center jobs. Mphasis said most of its clients from the banking and insurance space suggested the Philippines for its BPM expansion outside the US.
The US firm is reputedly a client-centric organization, willing to accommodate clients’ wishes such as setting-up operations in the Philippines.
The company provides IT services to banking and finance, healthcare, telecommunication, logistics and other high-tech industries.
It employs around 40,000 employees across the globe such as IT-BPO facilities in India, Mexico, Taiwan, Costa Rica, Germany and the UK. Mphasis is a subsidiary of the New York -based financial giant Blackstone Group.
Lopez said that despite the challenges, the IT-BPM sector did not lay off workers during the pandemic. He said that human resources would not be an issue with the country’s 49 million workforce.
He said joining the workforce annually are 800,000 university and college graduates, with 30 percent coming from the science, technology, engineering and mathematics field.
Trade Undersecretary Ceferino Rodolfo said the DTI has a standing MOU with the Commission on Higher Education and could also link Mphasis with various education institutions for curriculum customization and talent development.
He said another resource that they could tap is the returning overseas Filipino workers who have an advantage in terms of experience with their new knowledge and skills acquired from their respective countries.
The Philippines accounts for 13 percent of the global IT-BPM market.