BPO industry prefers stable currency – IBPAP

A weak Philippine peso makes business process outsourcing (BPO) more competitive but the industry still prefers a stable currency, according to the Information Technology and Business Process Association of the Philippines (IBPAP). The stability of the currency and the quality of Filipino services are more important considerations in choosing the country for BPO operations than simply cost, according to IBPAP chairman of the executive committee Benedict Hernandez. Being export-oriented, the BPO industry benefits from a weak peso in terms of cost, but BPO firms do not base their decision simply on that. He said BPO firms need a more stable currency as it makes long term financial planning less risky. Overall, the peso has been quite stable over the past few years.