Many offshore service centers are beginning to realize the importance of rigorous and structured training for their graduate hires as a way to alleviate the skills gaps of these graduates resulting from outdated curricular content and methods in our local universities. Despite the realization of the need, putting up an increased budget for graduate hire (as well as near-hire) training remains a daunting task for many companies. This section of the Corporate Services Segment Study runs through the many laudable education programs launched by the IBPAP that BPOs can plug into as part of their graduate hire development program.
The section ends with some ideas on the opportunities for developing competencies on XBRL and plugging into this emerging global initiative. The challenges facing US regulatory agencies in accelerating the adoption of XBRL stem from the high cost of quality XBRL report preparation experienced by companies that need to comply. With the country’s competencies in both accounting and information technology, this is just the kind of opportunity that can spell a lasting competitive advantage for the local BPO industry. I’ve been raring to start a conversation on this amongst the local BPO players in the last two years. Any takers?