Outsourcing company to expand in Cebu-A A +A
Thursday, December 12, 2013
CEBU EXPANSION. Firstsource senior vice president and country head Kiran Kosaraju (right) and Firstsource Cebu senior human resource manager Edsil Peejay Dagat talk to reporters on their companies expansion plans in Cebu. (Photo by Jonolin Luab of Sun.Star Cebu)
INDIA-based outsourcing firm Firstsource Solutions Ltd. announced they will be expanding their Philippine operations, particularly in Cebu, in 2015.
Firstsource is a new information technology-business process management (IT-BPM) company in Cebu that occupies a 2,700-square meter facility at the 3rd floor of Skyrise One in Cebu IT Park.
Its Cebu office currently has 110 agents but this will continue to expand in the first quarter of 2015 to fill in the total of 500 seats, according to Kiran Kosaraju, Firstsource senior vice president and country head.
Kosaraju said the plan to grow in Cebu is a manifestation of the company’s confidence in the city’s economy and its talent pool.
“In terms of voice-based, the Philippine market is the right place to be in. We expanded operations in Cebu because we saw its potential and competitiveness,” Kosaraju told reporters in a press conference.
Firstsource is an IT-BPM company recently acquired by RP-Sanjiv Goenka Group. It caters to clients in the telecommunications & media, banking and financial services and healthcare industries from 47 delivery centers. It has operations in India, United States, United Kingdom, Ireland, Sri Lanka and the Philippines. It employs 30,000 employees across six geographies.
The firm entered the Philippine market in 2007. It has three centers-one in Cebu and two located in Alabang, which has 1,600 employees.
The Cebu site opened in October this year.
Kosaraju said the Cebu site handles inbound voice-based banking, finance and telco services for big clients in the US and UK.
“So far we are very happy with the kind of performance we are getting from our people here. It’s very good,” he said.
Although, they are into banking services, Firstsource Cebu senior human resource manager Edsil Peejay Dagat said they are not really particular about hiring only business or finance graduates since hired employees go through various trainings.
Kosaraju said they are looking into a university partnership in 2015 to ensure they get the best manpower for their expansion plans here. He said they plan to double their capacity in Alabang and Cebu by the middle of 2016.
The National Economic Development Authority (Neda) 7 said the IT-BPM sector in Central Visayas sustained its growth momentum over the last three years.
Estimated revenues of Peza-registered companies went up from $333.6 million in 2010 to $516.8 million in 2012, while in the first three quarters this year, revenues of the sector already reached $435.4 million, which is 84 percent of last year’s revenue.
Neda 7 assistant director Efren Carreon said in an earlier interview that Cebu City’s improved ranking from 9th to 8th this year in the Tholons list, is a competitive advantage that will attract more investors to locate their IT-BPM businesses here.
Published in the Sun.Star Cebu newspaper on December 13, 2013.