<P> Given the rising popularity of the different outsourcing firms in the country, the need for more talent on digital advertising is needed by these firms to expand their customer base and keep customer loyalty with their firms . Recently the common practice of multinational companies, the customer to the outsourcing firms is to now have short term contracts with the local outsourcing firm of a designated country to keep up their efficiency and to grab possible price reductions when availing of outsourcing services . </P> <P> In terms of technology, another practice that is now being more commonly applied is the use of cloud based software to store data . With the trend of cloud based software growing in number and popularity, the trend of BPOs adapting these programs to store data is seen to continue proportionally with the increase . This is because such practices, if adapted would mitigate the cost and risk of having to keep and maintain large data storing hardware . </P> <P> For the year 2016, The BPO industry of the Philippines is projected to experience an overall positive growth rate . Activity in the industry appears to be robust enough such that the industry's projected total income range would reach $20 to $27 billion by 2016 and $40 to $55 billion by 2020 . The Industry, currently holding about 1 million directly employed employees, is also projected to increase employment by providing a total of about 1.3 to 1.5 million new jobs, which would consist of employees directly and indirectly employed . </P> <P> In terms of the Philippines credit ratings, there has been statements that the current and future credit rating would hold, if not increase, this being driven by the constant economic growth the country is enjoying which a good portion is attributed to being the contribution of the BPO Industry </P>

Bpo contribution to the business community and the nation
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