DPC Data sets up RP unit for knowledge process outsourcing

DPC Data Inc., one of the leading providers of high-quality data processing management services in the US, has forged a joint venture with a local firm to put up a Philippine subsidiary.

At the firm’s inauguration of its state-of-the-art facility in Union Bank Plaza in Ortigas Center, DPC Data chairman and CEO Peter Schmitt said its local subsidiary is among the first Philippine companies to engage in the business of knowledge process outsourcing (KPO).

“There are truly bright people all over the world who work in the securities data field. But here in the Philippines, I have found such concentration of intelligence, high work ethic, and intrinsically humane values,” Schmitt said, adding that this will make the Philippines the main hub for their Asian operations.

Julius B. Gorospe, DPC Data Philippines chief executive officer, said DPC Data and Noypips Inc., a Filipino-owned high-value data processing company, have teamed up to be able to gain access to a broader market.

“This is part of our overall strategic scheme to expand our presence in other parts of the globe,” Gorospe said, noting that this marks the first time a US-based KPO firm will put up an office in Asia.

Gorospe said DPC Data has always considered the Philippines as one of the venues for expansion as the country has a competitive advantage over others in terms of skills and compatibility of culture and laws.

“When it comes to business and legal framework, we have an edge as we conform and/or share similar culture with that of the US,” he said.

Aside from their existing US clients, Gorospe said the partnership will enhance their capabilities to respond to the need for comprehensive and reliable investment information of other financial markets in the region.

“All the data that will be processed in our Philippine branch will be for export. We are eyeing a wider clientele base by tapping the Asia Pacific region and the Middle East markets,” Gorospe, also a principal at Noypips Inc., added.

Gorospe, who created the Sequelnet/Infocom network in 1995 and co-developed eMAXX (a fixed-income information service used by financial professionals worldwide), said the expansion of its operations will also involve setting up other offices within the Philippines.

“We are now in the process of looking at various areas where we can set up new offices,” he said.

Banking on the long-term prospects of this kind of business, he said the possibility of putting up branches in Cebu, Baguio, Davao and Cagayan de Oro, is in the offing.

“Evaluation of potential sites are now ongoing and we are likely to expedite the establishment of our Cebu office,” the company executive said.

Based in New Jersey, DPC Data has been archiving documents electronically since 1992. The firm provides custom data archiving, database creation and data management services, including document conversion, data extraction, full-text indexing, software development and web technology.

DPC Data also operates www.dpcdata.com, the municipal bond industry’s largest online collection of downloadable municipal disclosure documents, and Download-Prospectus.com, a service that enables broker/dealers to deliver official statements and prospectuses to investors over the Internet.

Through the years, DPC Data has steadily expanded its capabilities in data extraction, data remediation, and data collection capabilities with special expertise in equities, global fixed income, mutual funds and securities master creation and maintenance.