President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

PRESIDENT’S REPORT
June 2017 Issue

The Special Joint Testimonial Luncheon in honor of Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. on May 24 was a huge success. FINEX, as the lead convenor, together with AMCHAM, CIBI Foundation, ECCP, MAP, MBC and PCCI, honored and celebrated Gov. Tetangco’s 12 years of successful leadership that leads to our country’s monetary stability and economic growth.

***


Read more

2017 Year-Round Corporate Sponsors

PARTNERS :

DIAMOND :

GOLD :

Affiliations
Ads
Featured Article

Latest Tax and Legal Updates

E-mail Print PDF
BDB Law's "Tax Law for Business" (January 29, 2015) - "The CIR ought to know the records of all taxpayers" By: Atty. Ayesha Hania Guiling-Matanog


In today’s issue of Business Mirror, BDB Law Junior Associate, Atty. Ayesha Hania Guiling-Matanog in her article entitled, "The CIR ought to know the records of all taxpayers", discusses the power of the Commissioner to obtain information, and to summon, examine, and take testimony of persons. To read the full article, please click on the link below.

http://www.bdblaw.com.ph/index.php?option=com_dms&task=show_document&category_id=1&id=862&Itemid=164
 

Presidents Notes September 2013

E-mail Print PDF

PRESIDENT’S NOTES

Judith V. Lopez

 

"Once a new technology rolls over you, if you're not part of the steamroller, you're part of the road." --Stewart Brand

 

We exist in a world today that is ever dependent on technology -- so very important, in fact, that technology has been cited as one of six key 'game-changers' over the next two decades in the Global Trends report by the US National Intelligence Council.

   

 

 

 


 

President's Notes - July 2013

E-mail Print PDF

PRESIDENT’S NOTES

Judith V. Lopez

 

 

 

 

 

Time flies and we have already passed the half-way mark of 2013.  We’re indeed fortunate to have in our leadership team very committed and hardworking board members and committee chairs who are helping me roll out, successfully, our plans and projects this year.

 

 

 


 

President's Notes April 2013

E-mail Print PDF

PRESIDENT’S NOTES

Judith V. Lopez

 

Not long after we wrapped up the Lenten season did we hear the good news that the Philippines got its first ever investment upgrade by Fitch Ratings - a most awaited economic recognition.  This sovereign rating showcases P-Noy Administration’s fiscal, governance and social reform agenda, an indication that the Philippines, while classified as among the emerging market, has arrived as a strong economy to be reckoned with.  I would like to think that this is evident of our resiliency both as a people and as a sovereign nation.     

 

 


 

A look at FAO 2013

E-mail Print PDF
THE prospects of finance and accounting outsourcing (FAO) here in the Philippines are exciting. This, despite India leading in this area, capturing 60 percent of global F&A service delivery, according to a “BPO Outcomes” report featuring an interview with Rajesh Ranjan, vice president of business-process outsourcing research for the Everest Group. This means the South Asian country is even dominating the services captured by Eastern Europe, Latin America and other Asian nations.

The things that make India the favored destination for FAO are doable and not impossible for the Philippines. In terms of labor arbitrage, we can lower labor costs; when it comes to English-language proficiency, we’re way better than the Indians. What we need to do is expand the pool of talents we have in finance and accounting; India has a lot more people in this field that we do. We need to train more people in this area to solve the problem of poaching and the lack of FAO talent. The problem of Philippine FAO service providers is that the people they trained are being pirated by bigger and foreign BPO companies. Since local firms cannot match the compensation packages offered by these companies, the only solution is to keep training more people.

The FAO is also expanding its market. Before, most companies availing of outsourcing service are large, multinational corporations; now, the market for small- and medium-sized enterprises (SMEs) is flourishing, according to the same BPO Outcomes report. This is because of technology considerations, which SMEs would like to take advantage of. Since these businesses don’t have the financial resources to set up technology infrastructures and software requirements, the emergence of Software-as-a-Service solution addresses their needs. So instead of buying their own software, which might be very expensive, companies can just subscribe to a monthly service that includes 24/7 technology support. The BPO Outcomes report refers to this solution as Business-Process-as-a-Service, which also includes hardware and information-technology support.

Quoting an Everest report, the BPO Outcomes article cited a 15-percent drop in the market captured by top FAO providers Accenture, IBM and Genpact. Though this does not mean they are losing customers, the market’s fast growth has led to the emergence of other providers that offer services similar to the big providers’. This presents an opportunity for Philippine-based FAO providers to take advantage of this increasing demand from onshore, nearshore and offshore customers.

These are interesting developments in FAO, and the Philippines is certainly capable of improving this year if our players are given the chance to serve a bigger market. Coupled with quality work, reasonable fees and adequate support from the government, it will not be long before our country will become the biggest FAO provider in the world. You might say I’m dreaming, but looking at all the facts I would say my prediction would be proven correct a few years from now.

****

The writer is the treasurer of KPS Outsourcing Inc. and a partner of Inventor, Miranda & Associates, CPAs. The views expressed here are her own and do not necessarily reflect the opinions of these institutions.
 


Page 1 of 2
FEATURED ARTICLES
This Market (still) has Legs
Mr. Ronald S. GosecoBy Ronald S. Goseco

MANILA TIMES (FINEX Files)
July 21, 2017

This Market (still) has Legs

I recently attended the 2017 mid – year outlook of Citi. Their outlook for the reminder of the year is still cautiously optimistic, with the global recovery appearing to be on track despite the rising Chinese economy concerns. As of May, global equities have rallied 10.5 % with Emerging Market equities up 17% on a year to date basis. Bond markets have also posted positive returns of around 4% surprising a lot of investors.

Read more...
A crisis cycle
J. Albert GamboaBy J. Albert Gamboa

BUSINESS WORLD(FINEX Folio)
July 21, 2017

A crisis cycle

Members of the Financial Executives Institute of the Philippines (FINEX) had been excitedly anticipating the general membership meeting last July 19, as the confirmed guest speaker was Defense Secretary Delfin N. Lorenzana.

Read more...
Fringe benefits and the power of content
Ms. Wilma Inventor MirandaMs. Wilma Inventor Miranda

MANILA BULLETIN (Business Option)
July 20, 2017

Fringe benefits and the power of content

When Trump won the elections, I was in the United States last November 2016. We went to a restaurant for dinner after the election results came out and we were discussing how in the world Trump won? There were Filipinos though, who voted for Trump and I knew later there were many of them who voted for him including some Filipinos whom I met on the plane back home.

Read more...
Now and then, a Contrast
By Dr. Conchita L. ManabatBy Dr. Conchita L. Manabat

BUSINESS MIRROR (FINEX Free Enterprise)
July 19, 2017

Now and then, a contrast

When virtue is lost, benevolence appears; when benevolence is lost, light conduct appears; when right conduct is lost, expedience appears. Expediency is the mere shadow of right and truth; it is the beginning of disorder. —Lao Tzu

Read more...
THE RISING THREAT OF CYBER-CRIMINALITY
Zoilo By: Zoilo "Bingo" P. Dejaresco III

MANILA BULLETIN (Business Option)
July 18, 2017

THE RISING THREAT OF CYBER-CRIMINALITY

Even newly-installed Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. has pointed at cyber-criminality as one of the major concerns of his new administration. The US$81-M hacking of the Bangladesh sovereign account and the money laundering that ensued here is still -fresh in every one's mind. The recent glitches in the Bank of the Philippine Islands system and the Banco de Oro ATM portfolio, although monetarily harmless to clients are clear signs the banking scene has been altered by technology,.

Read more...
‘1 with the 99’
Flor G. TarrielaBy Flor G. Tarriela

MANILA BULLETIN (Business Option)
July 13, 2017

‘1 with the 99’

“1 with the 99”. What does it mean? asked former finance undersecretary Romy Bernardo.  So, with PNB Vice Chair Rico Alfiler and Romy, we attended the Department of Finance’s (DOF) “1 with the 99” forum last week. The forum aims to inform the public about the Tax Reform for Acceleration and Inclusion Act (TRAIN).

Read more...
Partners