The Outsourcing industry in the Philippines is the fastest growing sector in the country, and it continues to grow with an average annual expansion rate of 20%. Outsourcing is projected to become the country’s biggest source of foreign exchange income in 2017, and the World Bank estimates that the industry could top $50 billion in revenue by 2020.
Notwithstanding these impressive statistics and projections for future growth, the outsourcing industry faces an existential threat. Therefore, it is imperative that companies, which outsource to the Philippines, and companies with outsourcing operations in the Philippines take concrete steps now to mitigate cyber risks.
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