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Belize’s first BPO Summit analyses strategy to improve business services sector


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Government and private sector officials from Belize converged at the Radisson Fort George Hotel in Belize City on Wednesday February 17th to discuss a new strategy to improve the country’s business services sector.

The meeting, which was dubbed as the first BPO Summit in Belize was the brain child of the BelizeINVEST Unit of the Belize Trade and Investment Development Service (BELTRAIDE). It provided participants the opportunity to examine the benefits of increasing the country’s business services and identify priorities for policy and institutional reform. Participants also agreed to revive the Business Outsourcing Association of Belize (BOAB), establish a standards framework and to increase the development and promotion of I.T education in Belize to foster value-added services.

The strategy was developed in partnership with the Commonwealth Secretariat and had as its main objective to assess the potential for higher-value IT Enabled Services (ITES) and to establish the framework for an industry standard in preserving and continuing to develop the country’s outsourcing industry.

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Through this partnership, OCO Global was contracted to develop key documents, such as a Comprehensive Outsourcing Strategy Action Plan and a BPO Standards Framework and Roadmap for Implementation, which will serve as the mechanisms for the successful execution of the framework. The study was conducted through various visits to Belize in engaging key public and private stakeholders.

“The BPO industry has grown substantially over the last couple of years in particular and it is expected to continue on an upward growth trajectory and so for us as a government it is important that we look at investment facilitation and creating the enabling environment in terms of regulations and standards to allow the sector to continue to grow and to prosper,” said Hon. Tracy Taegar, Minister of State in the Ministry of Economic Development, Petroleum, Investment, Trade and Commerce.

Historically, the offshore outsourcing sector of Belize has experienced tremendous growth of over 80% in the past few years, starting with only one (1) center opening its doors in 2005 to over 23 centers presently employing over 2,300 agents. Most centers in Belize currently focus on inbound and outbound call center operations, since it is the only Latin American and Caribbean location offering the dual advantage of being a cost effective location, with ‘accent neutral’ English language skills; English being the official language. Belize also hosts a 51.26% Spanish speaking population, making it a truly bilingual destination. (2010 census SIB)

Businesses services cover a wide range of activities including accounting, data processing, IT-related services and telecommunications. Governments and businesses around the world outsource a proportion of these services to make efficiency gains or as part of a wider corporate strategy.

The global business services outsourcing industry is expanding in the Latin America and Caribbean region and accounts for 9% of all foreign investment in business outsourcing. More companies in large markets, such as the United States, are opting to outsource non-core business activities to countries close by that can offer services at a lower cost, creating opportunity for Belize and other countries in the region.

As the information technology enabled services (ITES) sector becomes more competitive and globalized amidst escalating costs to outsource in Asia, organizations are quickly looking to re-locate their outsourcing operations to offshore destinations like Belize, which offers the same agility, access to new markets, talent and ultimately cost savings.

The business process outsourcing (BPO) industry has specifically been recognized as a specialized “niche” area and priority industry for Belize’s socio-economic growth by the Government of Belize (GOB) as well as the private sector.

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Adoption of Value Added BPO Services to Drive Gains in the Business Process Outsourcing Market


April 3rd, 2015,

Business Process Outsourcing (BPO) involves contracting of specific business functions to third party service providers. Though cost arbitrage remains the primary growth driving force in the BPO industry, businesses are realizing the importance of outsourcing as a strategy to lower product development cycle and boost innovation within an enterprise. Focus is rapidly shifting from the traditional model that lays emphasis on achieving labour cost reduction to now providing comprehensive sector specific value-added services. Another factor driving growth is the increase in outsourcing by mid-size companies in a bid to address the issue of rising costs associated with regulatory and compliance requirements.

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Plagued by decreasing margins from traditional outsourcing activities, BPO providers are now focusing attention on adoption of new generation technologies such as process automation,Big Data & Analytics, secure private cloud infrastructure and BPaaS (business process as a service) among others. Use of robotic process automation (RPA) software solutions that replicate some of the manually operated processes is gaining significance. Companies are also embedding analytics-based BPO solutions in processes to offer all rounded actionable insights and help customers build powerful brands and business strategies. Further, growing security concerns are expected to prompt companies to prefer the private cloud model over its counterpart public cloud. The transition to new platforms is to help companies explore new opportunities by offering advanced services such as robotic process automation (RPA), secure private cloud infrastructure and BPaaS (business process as a service).

As stated by the new market research report on Business Process Outsourcing (BPO), the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 10% over the analysis period. India remains the most lucrative destination for BPO services, while Philippines emerges as a strong competitor.

Key players covered in the report include Accenture Plc, Aon Hewitt, Automatic Data Processing, Inc., Capgemini, Capita Plc, Ceridian HCM, Inc., CGI Group, Inc., Cognizant Technology Solutions Corporation, Computer Sciences Corporation, Dell Inc., EXLService Holding, Inc., Genpact Limited, Hewlett-Packard Development Company L.P, Infosys BPO Ltd., International Business Machines Corporation, KARVY Global Services Limited, NTT DATA Corporation, NGA Human Resources, Randstad Holding nv, Serco Group, Plc, StarTek, Inc., Sopra Steria Group, Syntel, Inc., Tata Consultancy Services Limited, TriNet Group, Inc., Wipro Limited, WNS (Holdings) Limited.

The research report titled “Business Process Outsourcing : A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, industry overview, trends, growth drivers, issues, and recent industry activity. The report provides market estimates and projections for BPO in US dollars for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Key horizontal segments analyzed for the global and regional markets include Finance & Accounting, Customer Services, HR, KPO and Procurement. End-use markets analysed include Manufacturing, Telecommunications & Technology, Banking, Insurance & Finance Services, Retail and Others.

Source:http://www.pressreleaserocket.net/adoption-of-value-added-bpo-services-to-drive-gains-in-the-business-process-outsourcing-market-according-to-a-new-report-by-global-industry-analysts-inc/131526/

10 Business Process Outsourcing Trends for 2015


by DATAMARK on December 19, 2014 in Outsourcing News

We’ve taken a look into the future of BPO, and here are the top trends we see driving the industry in 2015. Read on, and check out our infographic below!

  1. Innovation becomes the status quo

Buyers pushed for innovation from BPO providers for years, and now they are seeing it ingrained into the industry at last. A survey of 100 firms found that two-thirds have innovation incentives built into outsourcing arrangements, and nearly half meet regularly with providers to discuss innovation. Eighty percent said outsourcing partners “actively encourage innovation and ideas.”

  1. Contract structuring gets creative

BPO providers will get creative to land mega-sized, multi-year outsourcing deals. Innovative contract terms will include up-front payment for purchase of a client’s assets such as hardware, software, intellectual property and the transfer of workers.

  1. Buyers seek balanced shores

Competitive BPO providers will offer clients flexible outsourcing location options, known as balanced-shore outsourcing. Locations will include at-home; on-site; off-site within the same city; off-site at a lower-cost-of-living city; nearshore; farshore; and blends of these arrangements.

  1. Smaller, shorter BPO engagements

“Flexibility” is the theme of BPO contracts as buyers split work among several specialist providers, rather than bundling it into one large contract with one provider. The result will be smaller, shorter BPO engagements. Experienced buyers will seek “domain expertise” from providers, instead of simply the lowest price.

  1. Software robots on the rise

Providers of robotic process automation (RPA) software will aggressively market to BPOs these smart platforms that handle tedious, low-skill decision-making traditionally handled by clerical workers. Some BPO providers are incorporating RPA in their solutions to help reduce costs for their clients. By 2018, these digitally powered business processes will require 50 percent less BPO workers, Gartner predicts.

  1. Enterprise mobile apps take off

Made-for-business apps have been hyped for the past couple years, but in 2015 we’ll see the combined power of IBM and Apple shake the market up. They are releasing IBM MobileFirst apps for iOS, which will please those who bring iPhones and iPads to work. MobileFirst solutions that have potential in the BPO realm include banking and financial apps Advise & Grow and Trusted Advice; and insurance app Retention.

  1. Device convergence pushes process innovation

Not only will Apple’s mobile iOS blaze a path through business processes, but competitor Microsoft will muscle its way in with the enterprise edition of the Windows 10 operating system, set for release in 2015. Windows 10 is supposed to make life easier for IT by creating a unified app, security and deployment environment for all Windows-based devices, from phones to tablets to laptops to PCs to touch-screen displays.

  1. Organizations seek help managing and protecting unstructured data

In the wake of headline-making attacks and data breaches of Sony Pictures, JP Morgan, Snapchat and others, information security will be of the highest priority in BPO engagements. IT teams will work to not only protect the perimeter of organizations from attack, but will also build “application self-protection” features into made-for- business apps.

  1. New InfoSec strategies

In the Sony Pictures breach, 100 terabytes of data were allegedly stolen by hackers. Companies are realizing that they cannot manage information by buying more servers–they need strong enterprise content management (ECM) strategies and assistance from BPO providers experienced in securely managing unstructured information such as video and audio files, social media posts, and data on employees’ BYOD devices.

  1. Companies embrace a mix of SaaS and private cloud

 As companies shift to SaaS, on premises software deployment is declining rapidly,expected to drop from 34 percent  to 17 percent by 2017, according to Gartner. However, because of security concerns, CIOs are increasing adoption of private cloud more than public. Experienced BPO providers are navigating this new reality, looking for opportunities to offer organizations BPaaS (business process as a service), RPA and secure private cloud infrastructure.

Expression of Interest Notice – Dominicana Moda 2014


 

CE Logo 2013

Notice for CARIFORUM Fashion Firms

 

Invitation to participate in Dominicana Moda 2014

 

October 20-25, 2014

 

Santo Domingo, Dominican Republic

 

The Caribbean Export Development Agency (Caribbean Export) under the 10th European Development Fund (EDF) will be collaborating in the organization of Dominicana Moda 2014 (DM2014) in Santo Domingo, Dominican Republic. Caribbean Export is highly committed to the development of the Fashion sector in the Region and seeks to enable opportunities such as these to engage relevant stakeholders and foster sector-wide integration. This collaborative effort will provide a great opportunity for emerging and established fashion designers in the Caribbean to expose their vision at a regional and international stage, thus positioning the Caribbean as an international go-to location for Fashion design and ingenuity.

 

In the past 9 years, Dominicana Moda has grown to be the official Fashion Week of the Dominican Republic thus the most important platform for the Fashion Industry. Throughout its history it has certainly become the fastest growing runway show in the Latin American region.

 

Dominicana Moda is a yearly event for around 6 days of continuous runway shows where the best brands and designers come together. Major fashion houses have participated in the past, and this year it will surely continue to grow. Continue reading “Expression of Interest Notice – Dominicana Moda 2014”

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