According to Collier Philippines, a real estate services firm, the Information Technology-Business Process Outsourcing (IT-BPO) industry has become the major driver of office space in the country in the recent years. The industry has been increasing the demand for office space around 10-15 percent annually, and this can all be rooted from the previous passing of pro-outsourcing laws.
Collier Philippines believes that with the triumvirate of measures being completed, the IT-BPO will feel more secured, thus, furthering the growth of the industry in the coming years. These measures that protect and drive more investors to put up businesses such as data entry services are as follows: the Cybercrime Prevention Act of 2012, the Data Privacy Act of 2012, and the Department of Information and Communications Technology (DICT) Act of 2015.
Cybercrime Prevention Act
The Cybercrime Prevention Act, or RA 10175, is an act that defines and punishes cybercrime. It aims to detect, prevent, suppress, and penalize cybercrime offenses against the availability, integrity, and confidentiality of computer data and systems, computer-related offenses, and content-related offenses.
With the anti-cybercrime law, the IT-BPO is safeguarded from illegal activities involving technology and the internet. The said sector greatly benefits from the act since significant amount of its activities operate electronically.
Data Privacy Act
The Data Privacy Act, or RA 10173, is an act requiring the protection personal information and communication systems in public agencies and private organizations. This is aligned with the Asia Pacific Economic Cooperation (APEC) Information Privacy Framework and conforms to the standards set by the European Parliament.
According to Business Processing Association of the Philippines (BPAP) President and CEO Benedict Hernandez, the said act brings the Philippines to international standards of privacy protection. Services involving data entry and systems are safeguarded from threats and risks as the legal framework comes into play. Through this, confidence and trust is being promoted, ensuring the competitiveness of the IT-BPO sector.
DICT Act
The DICT Act, or RA 10844, is an act defining the powers and functions of the said agency. It aims to plan, develop, and promote the national ICT agenda. The government office is also responsible in spearheading nation building, safeguarding of information, and advancement of ICT in the country.
With the establishment of DICT, the Colliers Philippines expects that the agency will attract more foreign investors to capitalize in the country. The firm also dispelled the fears of some sectors that DICT’s provisions are regulatory, which may stifle the growth of the IT-BPO. Instead, the company believes that the law’s provisions are supportive and developmental in nature.
With the presence of the laws mentioned above, the IT-BPO sector continues to grow as an indispensable industry in the country. As Colliers Philippines puts it, the accommodating regulatory environment for outsourcing complemented by continuously improving global competitiveness should sustain the BPO firms’ growing appetite for office supply over the medium term.
Through the acts protecting the welfare of the industry, more investors will take chances and establish their contact center, risk management, and data entry services in the Philippines. If this continues, the industry is not far from becoming the largest source of income in the country, besting its previous second place stint.
Collier Philippines believes that with the triumvirate of measures being completed, the IT-BPO will feel more secured, thus, furthering the growth of the industry in the coming years. These measures that protect and drive more investors to put up businesses such as data entry services are as follows: the Cybercrime Prevention Act of 2012, the Data Privacy Act of 2012, and the Department of Information and Communications Technology (DICT) Act of 2015.
Cybercrime Prevention Act
The Cybercrime Prevention Act, or RA 10175, is an act that defines and punishes cybercrime. It aims to detect, prevent, suppress, and penalize cybercrime offenses against the availability, integrity, and confidentiality of computer data and systems, computer-related offenses, and content-related offenses.
With the anti-cybercrime law, the IT-BPO is safeguarded from illegal activities involving technology and the internet. The said sector greatly benefits from the act since significant amount of its activities operate electronically.
Data Privacy Act
The Data Privacy Act, or RA 10173, is an act requiring the protection personal information and communication systems in public agencies and private organizations. This is aligned with the Asia Pacific Economic Cooperation (APEC) Information Privacy Framework and conforms to the standards set by the European Parliament.
According to Business Processing Association of the Philippines (BPAP) President and CEO Benedict Hernandez, the said act brings the Philippines to international standards of privacy protection. Services involving data entry and systems are safeguarded from threats and risks as the legal framework comes into play. Through this, confidence and trust is being promoted, ensuring the competitiveness of the IT-BPO sector.
DICT Act
The DICT Act, or RA 10844, is an act defining the powers and functions of the said agency. It aims to plan, develop, and promote the national ICT agenda. The government office is also responsible in spearheading nation building, safeguarding of information, and advancement of ICT in the country.
With the establishment of DICT, the Colliers Philippines expects that the agency will attract more foreign investors to capitalize in the country. The firm also dispelled the fears of some sectors that DICT’s provisions are regulatory, which may stifle the growth of the IT-BPO. Instead, the company believes that the law’s provisions are supportive and developmental in nature.
With the presence of the laws mentioned above, the IT-BPO sector continues to grow as an indispensable industry in the country. As Colliers Philippines puts it, the accommodating regulatory environment for outsourcing complemented by continuously improving global competitiveness should sustain the BPO firms’ growing appetite for office supply over the medium term.
Through the acts protecting the welfare of the industry, more investors will take chances and establish their contact center, risk management, and data entry services in the Philippines. If this continues, the industry is not far from becoming the largest source of income in the country, besting its previous second place stint.