However, according to CCAP director Reinerio Borja of People Support and concurrent chairman of the Business Process Association, the growth of business process outsourcing (BPO) is expected to exceed 100 percent, outpacing the projected 70 percent growth of call centers.
In a press conference, the CCAP expressed optimism that the local call center industry would continue to attract investments, clients and applicants as it expands into other related services such as BPO and animation.
The expansion into BPO and animation, the CCAP officials explained, is logical and maximizes their resources.
Most often call centers operate in the evenings when their US clients are calling.
Thus, in the daytime in the Philippines, most of the call centers have little to do.
While competition in the sector is increasing worldwide, the CCAP is confident that the Philippines will take the lead in the world market, not because of lower cost but because of quality service.
CCAP officials also disclosed that a number of Filipino-Americans are finding their way back to the Philippines to work in call centers here because of the better opportunities it presents to them.
The CCAP is holding a two-day Call Center Conference and Expo on June 20 and 21 at the Edsa Shangrila with the theme "Sustaining the Industry’s Hypergrowth."
Previously, BPO International president and chief executive officer Christopher Orcullo had projected that finance and accounting outsourcing in the world market would reach $25 billion in 2009 and the Philippines should benefit from this by establishing a niche on highly voluminous, repetitive finance and accounting processes like transaction processing.
Finance and accounting outsourcing growth is 15 percent of the total BPO growth amounting to $641.2 billion, based on an IDC estimate on BPO 2009 spending.
"Large offshore companies will demand integrated services like purchase and payment combined with procurement and finance and accounting services. And the primary driver to outsourcing is no longer just cost reduction but a more strategic objective of improving competitive position, market leadership among other things," Orcullo explained.
The US Generally Accepted Accounting Principles (GAAP) cited Filipino accountants as "among the best in the world."
Filipino accountants are also well versed with GAAP and International Accounting Standards for financial reporting, standards employed in the US, Japan, and most of Europe.
Government statistics show that the Philippines has the largest pool of accountants in Asia.
The Philippines has about 120,000 certified public accountants (CPAs) and graduates over 4,000 CPAs annually.
Meanwhile, over 80,000 graduates have degrees in business administration and related discipline.
To date, there are more than 60 BPO operators in the Philippines.
Some of the multinational companies outsourcing their finance and accounting processes in the Philippines are AIG, Procter & Gamble and Citibank among others.
Price waterhouse coopers, KPMG Consultancy, Deloitte Touche Tohmatsu and Ernst and Young are also represented in the Philippines.