MANILA, Philippines (Xinhua) — The Philippine call center industry is confident that business will remain brisk even if the stronger peso threatens to cut its profit margin.
“We are carefully monitoring (the exchange rate) but it is not yet a concern for us. There’s still a significant preference for voice services offered by the Philippines even with the fluctuating peso,” Benedict Hernandez, president of the Contact Center Association of the Philippines (CCAP), said in Wednesday’s briefing.
The peso is trading at a four-year high — closing at 41.57 pesos Wednesday — bolstered by hopes that the US Federal Reserve would implement a third round of stimulus. Investors expect that a boost in the world’s biggest economy will support growth in emerging economies.
A stronger peso usually threatens Philippine companies which export goods and services. But Hernandez said the quality of service provided by Filipino call center agents and their skills will assure that the country remains as the top destination for voice services.
CCAP Executive Director Jojo Uligan said call center operators don’t find the recent peso appreciation alarming. But he said that if the peso trades below 41 against the dollar, then that will be disastrous for call centers.
He said it’s difficult to charge higher rates to current clients.
“You can charge higher rates for new contracts but for existing clients, it could be problematic. You also have to manage cost,” he said.
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