Shared services provider Asticom Technology, Inc., wholly owned by Globe Telecom Inc., is launching its first subsidiary, Asti Business Services, Inc. (ABSI) in a bid to climb on top of the P11.250 billion Information Technology-Business Support Office (IT-BSO) market and be a regional player within 8 years.
ABSI, a business process solutions firm, provides shared services to large enterprises in telecommunications, financial technology, information technology, retail, health, logistics, automotive, banking, education, real estate, and aviation.
"0ur vision is to become the number one shared services company in the Philippines and Asia by 2029," Mharicar Castillo-Reyes, Asticom President and CEO, said.
The new Asticom subsidiary employs over 1,000 people and expects to haul in P500 million revenues per annum.
“Amid the pandemic, we see a growing need for IT-BSO services as enterprises have reinvented their ways of working while fully focusing on their core business functions," she explained.
"We are confident that ABSI will be able to create purposeful growth for the local and international markets,” the Asticom president stressed.
ABSI offers digital platform solutions to help leading enterprises in their digital transformation journey, such as customer experience and employee engagement.
In addition to IT-enabled services, such as web and mobile application development, ABSI also focuses on process optimization for front and back-end office functions, ranging anywhere from customer verification to payroll administration and finance support services.
“More than launching a subsidiary, our goal is to showcase Filipino innovation and expertise as an international IT-BSO services provider," says Gary Ona, ABSI General Manager.
"With ABSI, we emphasize people development and unwavering commitment to innovation, quality and efficiency.”
On the short term, ABSI’s market focus is on the domestic Business Process Services (BPS) market. International clients come next on the list.
As of now, global enterprises with in-house centers dominate the local market.
However, ABSI believes it has accompetitive edge and can provide superior customer service and local expertise to international brands with local presence and domestic-based enterprises.
Specifically, ABSI targets the grey space between the Global In-house centers and contact centers industries focusing on Human Resources, Finance, Customer Experience & Adminstrative support.
In the medium term, it seeks to haul in enterprises in Southeast-Asia in its client base.