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.
Join the world's premier outsourcing community
Get the world's leading outsourcing news summary, Inside Outsourcing, delivered to your inbox each week, for free. Plus, benefit from being a part of the fastest growing outsourcing community.
- Breaking news: daily web updates with outsourcing sector updates
- Newshub: Browse over 4,000 outsourcing industry news items
- Access: get outsourcing white papers, guides, articles, videos and podcast episodes
- BPO community: join our extensive outsourcing community
- Cancel anytime: zero obligation, no spam, just great information