The Belize Trade and Investment Development Service in collaboration with the Compete Caribbean, IDB, UK aid and Canada conducted the very first Business Process Outsourcing (BPO) working session; an effort to align and unite the key players in this booming industry. This session fostered dialogue between the Consultant Mr. Shaun Finnety and afforded BPO organization to voice their concerns whilst sharing their valuable experience. BPO association was developed on Tuesday, January 21st 2013, from 8:30 am- 12:30 pm at the ITVET Building in Belize City in the Dining Room area.
Consultant Mr. Shaun Finnetty, BPO Consultant, has been contracted to develop and implement the “Belize BPO Association/Council.”. With the advent of the of the BPO industry in Belize since 2005, presently there is fourteen (14) centers functioning in Belize. The working session is geared at firstly developing a uniquely blended BPO association, promote networking between BPO to share their experiences and delegate key players in the formation of the association.
It is evident that in recent years, Belize has seen the advent of the business process outsourcing (BPO) industry with the boom of contact centers providing services to various offshore companies. The first center opened its doors in 2005 and today, there are 14 active BPO’s in Belize offering both outbound sales and inbound customer service. Though the interest in Belize’s BPO industry continues to be strong, there is a shifting focus where multinational companies seek to outsource their I.T. services in Latin America and the Caribbean in order to tap into lower costing near shore markets due to rising costs in Asia, while also leveraging a new talent pool of ICT innovation.
The worldwide I.T. outsourcing (ITO) market is forecast to reach $288 billion in 2013, a 2.8% increase in U.S. dollars from 2012 according to Gartner, Inc. Statistics also show that ITO markets in emerging Asia/Pacific, Latin America and Greater China will all grow more than 13% in 2014 with the expansion of multinational buyers into these regions. So where does this leave Belize amidst this growth in the global ITO industry?
According to a recent study, the University of Belize has churned up to 105 graduates in I.T. with 56 earning a Bachelor’s degree and 49 earning an Associate’s between 2010 and 2013. During this same period, the Junior Colleges in Belize that offer an I.T. Associate degree program have produced 185 graduates in I.T. with Galen University recently introducing its program being scheduled to graduate 18 in 2014. This means that in four (4) years, we have produced close to 308 programmers in Belize’s I.T. talent pool; however, there are two major problems that are at hand.
First, though many students are graduating with degrees in I.T., only a few work in the field after they graduate due to a lack of professional I.T. careers or job opportunities in Belize. The few that are available, fill up by the brightest, leaving the others to either become freelance entrepreneurs, or to work in a field completely unrelated to I.T. Secondly, because of this, the interest of I.T. and students majoring in it have fallen due to fears of not being able to obtain work in the market after graduation. The study shows that total tertiary I.T. graduates in 2011 fell from 85 to 75 in 2012. So how can we leverage this available talent pool in Belize. Continue reading “Belize’s Hidden Treasure in I.T. Outsourcing”
Representatives of hundreds of global services companies meet in Buenos Aires with industry experts to examine current trends
The third annual Latin American and Caribbean Outsourcing and Offshoring Forum, Outsource2LAC, brought together representatives of leading global services industries in the region with potential clients from Asia, Europe, and North America.
More than 500 businesspeople from the global services sector, trade promotion professionals and government officials participated in the meeting, which was held in Buenos Aires Nov. 20-21. During the event participants held more than 1000 one-on-one business meetings in fields that included digital animation, virtual education, pharmaceutical research and development, architectural design, and engineering design, among others.
“Our region is increasingly recognized internationally for the great variety and quality of the global services it offers, and Outsource2LAC has become a key resource for this market,” said Fabrizio Opertti, chief of the Trade and Investment Unit of the Inter-American Development Bank (IDB). “Our geographic location, time zone, and our growing numberof creative and innovative companies give us a competitive advantage,” he added.
The event’s first day was marked by panel discussions on issues relevant to the global services industry, such as of “nearshoring and reshoring” incorporating services into the value chain, the importance of strengthening human capital, and opportunities for small and medium-sized enterprises. Continue reading “Outsource2LAC Shapes up as the foremost outsourcing and offshoring event in Latin America and the Caribbean”
Central America Showcases Outsourcing Opportunities
Managua, Nicaragua November 7th – 8th, 2013
Nicaragua inaugurated the first annual Central American Nearshore Summit (CANS) November 7, 2013 with the participation of over 160 businessmen mainly from the U.S. and the Central American region. The event was centered at promoting the entire region as an outsourcing destination due to its various competitive advantages; among them its competitive cost structure, strategic location and cultural affinity with the U.S.
Among the participants are 45 prestigious outsourcing companies; among them United Health Care, UBS, Darwin Zone, Accenture, Allied Global, Atento, Sitel, and Teleperformance.
The highlight of the event was the first session of business meetings held between service providers and buyers of the region. These previously scheduled meetings represent a unique opportunity for foreign and regional companies as they allow the establishment of key contacts and alliances within the outsourcing industry.
Additionally, there have been plenary sessions mainly on the current state of the industry, and investment opportunities offered in Central America, as well as outsourcing challenges of the region. Representatives from each Central American country were also able to highlight individual competitive advantages from their country in the plenary session “Meet the Agencies”. Other topics addressed during CANS include nearshoring social responsibility and success stories of companies established in the region.
Some of the industry experts that spoke at the event are Bert Quintana, President and CEO of Sitel, who is responsible for directing the company’s strategic growth and expansion; Atul Vashistha, Founder and Chairman of NEO Group, a leading global service and outsourcing advisory and supply monitoring firm; and DJ Edgerton, Founder and CEO of Zemoga, who was ranked in 2013 as #10 in Nearshore America’s Power 50 Most Influential Executives. Continue reading “Central American Nearshore Summit 2013”